Avante (XX) AGM 2024 summary

Opening remarks and agenda

• Meeting opened virtually with emphasis on shareholder participation and voting on all business matters.

• Agenda included financial statement review, auditor appointment, director elections, stock option plan approval, and shareholder proposals.

• Introduction of directors and management, confirmation of quorum, and explanation of voting procedures.

Financial performance review

• Audited consolidated financial statements for fiscal years ended March 31, 2024 and 2023, and unaudited interim statements for Q1 2025 presented.

• Q1 2025 revenues were CAD 7.9 million, adjusted EBITDA CAD 363,000, cash in bank CAD 6.2 million, and undrawn credit line of CAD 12 million.

• Operational improvements led to positive cash flow and a strong financial position.

Board and executive committee updates

• Five management nominees and three shareholder nominees were presented for five board positions.

• Management nominees elected: Dan Argiros, Wade Burton, Rob Klopot, Emmanuel Mounouchos, and Bruce Bronfman.

• Key management team and board members introduced, highlighting experience and roles.