Akanda Adjourns Shareholder Meeting

Akanda (NASDAQ: AKAN) adjourned its Special Meeting of Shareholders held March 31, 2026, because a quorum was not present and no business was transacted.

Rhea-AI Summary

Akanda (NASDAQ: AKAN) adjourned its Special Meeting of Shareholders held March 31, 2026, because a quorum was not present and no business was transacted. The meeting will reconvene in person in Toronto on April 27, 2026 at 10:00 a.m. ET, with the same location and online simulcast URL.

The adjournment lets the company solicit additional proxies; previously submitted proxies remain valid unless properly revoked. The record date for voting remains February 26, 2026. Shareholders are encouraged to vote promptly or contact the company for voting assistance.

Argus Apr 7 session

-1.25% close to close Open Argus

Details

News Market Reaction – AKAN

In the Apr 7 session, AKAN declined 1.25%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement focuses on governance, as Akanda adjourned a Special Meeting for lack of quorum an...

Analysis

This announcement focuses on governance, as Akanda adjourned a Special Meeting for lack of quorum and plans to reconvene on April 27, 2026. The meeting relates to capital-structure changes already outlined in a recent 6-K, including potential conversion of Class B Special Shares. In parallel, multiple F-1/A and 424B3 filings register up to 30,314,961 shares tied to $7,000,000 of convertible notes, signaling notable resale capacity. Investors may watch future meeting outcomes and additional filings for further dilution and governance signals.

Key Figures

Reconvened meeting time: April 27, 2026 at 10:00 a.m. Eastern Quorum requirement: At least two shareholders holding not less than 10% of outstanding shares Common shares outstanding: 2,403,525 shares +5 more

Reconvened meeting time

April 27, 2026 at 10:00 a.m. Eastern

Special Meeting reconvening in Toronto

Quorum requirement

At least two shareholders holding not less than 10% of outstanding shares

Threshold for conducting business at the Special Meeting

Common shares outstanding

2,403,525 shares

As of February 25, 2026 record date in 6-K

Class B Special Shares outstanding

5,508,354 shares

As of February 25, 2026 in 6-K on share conversion proposal

Shares registered for resale

30,314,961 common shares

Maximum upon conversion of $7,000,000 notes in F-1 filings

Convertible notes principal

$7,000,000

Aggregate principal of January 2026 convertible promissory notes

Additional shares registered

3,752,212 common shares

Maximum issuable upon conversion of $12,000,000 notes in 424B3

Interest rate on notes

10% annual interest

Convertible promissory notes described in F-1 and 424B3

Historical Context

5 past events · Latest: Mar 26

5 events

1. Mar 26

   Fiber acquisition

   24h Move

   -12.9%

   Expanded Mexican dark fiber network with ~$2.0M 10-year contracted cash flow.

2. Feb 27

   Business update

   24h Move

   +13.1%

   Highlighted ownership of large 700-km dark fiber network in Central Mexico.

3. Jan 23

   Financing closed

   24h Move

   +11.1%

   Closed $7.0M 12‑month convertible note placement for marketing, working capital, debt.

4. Jan 20

   Financing announced

   24h Move

   +41.7%

   Announced $7.0M convertible note offering with use of proceeds including debt repayment.

5. Jan 08

   Reverse stock split

   24h Move

   -14.8%

   1-for-5 reverse split reducing outstanding shares from ~10.1M to ~2.0M.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

quorum, proxy, record date, proxy materials

4 terms

quorum regulatory

"A quorum for the transaction of business at the Meeting requires the presence..."

A quorum is the minimum number of members needed to officially hold a meeting or make decisions. It ensures that decisions are made with enough participation to represent the group’s interests, much like a majority must be present for a vote to be valid. For investors, understanding quorum is important because it affects when and how important company or organization decisions can be legally made.

proxy regulatory

"The adjournment provides the Company with additional time to solicit proxies from shareholders..."

A proxy is the authorization a shareholder gives to another person or document to cast votes on their behalf at a company meeting. Think of it like handing someone your voting ticket so they can represent your choices on board elections, executive pay, mergers and other big decisions; it matters because proxies determine who controls the company and which proposals pass, directly affecting share value and investor returns.

record date regulatory

"The record date for determining shareholders entitled to vote at the reconvened Meeting remains..."

The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.

proxy materials regulatory

"The Company strongly encourages all shareholders to vote their shares promptly upon receipt of proxy materials..."

Proxy materials are the packet of documents sent to shareholders that explain items to be voted on at a company meeting and include the actual ballot or instructions for casting a vote. Think of them as a voting packet that lays out who’s running the company, major proposals (like pay, mergers, or board changes), and arguments for and against each item. Investors care because those votes shape corporate direction, affect risk and future profits, and can influence share value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Toronto, Ontario--(Newsfile Corp. - April 7, 2026) - Akanda Corp. (NASDAQ: AKAN) ("Akanda" or the "Company") today announced that on March 31, 2026, it convened and subsequently adjourned its Special Meeting of Shareholders (the "Meeting") without transacting any business due to the absence of a quorum.

The Meeting has been adjourned and will be reconvened in person in Toronto, Ontario on Monday, April 27, 2026 at 10:00 a.m. (Eastern Time). The adjournment provides the Company with additional time to solicit proxies from shareholders in order to achieve the required quorum. The location, including the URL for the online simulcast, will remain the same for the adjourned meeting.

A quorum for the transaction of business at the Meeting requires the presence, in person or by proxy, of at least two shareholders holding not less than 10% of the Company's outstanding shares entitled to vote. As this threshold was not met, no business could be conducted.

The record date for determining shareholders entitled to vote at the reconvened Meeting remains the close of business on February 26, 2026. Shareholders who have already submitted their votes do not need to take any further action, as previously submitted proxies will be voted at the reconvened Meeting unless properly revoked.

The Company strongly encourages all shareholders to vote their shares promptly upon receipt of proxy materials to ensure their participation at the reconvened Meeting.

If you have any questions or require assistance in voting your shares, please contact the Company using the contact information provided below.

About Akanda Corp.

Akanda Corp., through its cannabis subsidiaries with operations in Canada, is dedicated to cultivating and distributing high-quality cannabis and wellness products that improve lives. Its mission is to provide safe, reliable, and accessible cannabis products to consumers worldwide while promoting sustainable business practices.

About First Towers & Fiber Corp.

First Towers & Fiber Corp. is a primary operating subsidiary of Akanda, and is an emerging developer of telecommunications infrastructure in Mexico, specializing in cellular tower construction and dark fiber networks. FTF partners with national carriers and technology providers to deliver scalable, reliable, and future-ready connectivity solutions, driving both commercial growth and digital inclusion.

Company Contact

ir@akandacorp.com

Forward-Looking Information

This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities laws. All statements in this release that are not historical facts are forward-looking statements, including, but not limited to, statements regarding the timing and outcome of the reconvened Meeting, the Company's ability to obtain a quorum, the solicitation of proxies, and any future plans, objectives, or expectations of the Company.

Forward-looking statements are often identified by words such as "anticipate," "believe," "expect," "intend," "plan," "forecast," "project," "will," "may," "should," "could," and similar expressions. These statements are based on management's current expectations and assumptions, including, but not limited to, assumptions regarding shareholder participation, the effectiveness of proxy solicitation efforts, and general business and market conditions.

Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, without limitation, the risk that a quorum may not be achieved at the reconvened Meeting, changes in applicable laws or regulations, market conditions, and other risk factors described in the Company's public filings with Canadian securities regulators and with the U.S. Securities and Exchange Commission.

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291407

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Why did Akanda (AKAN) adjourn the Special Meeting on March 31, 2026?

The meeting was adjourned because a quorum was not present and no business could be conducted. According to Akanda, the required quorum is two shareholders holding at least 10% of outstanding voting shares, which was not met on March 31, 2026.

When and where will Akanda (AKAN) reconvene the adjourned shareholder meeting?

Akanda will reconvene the adjourned meeting in person on April 27, 2026 at 10:00 a.m. ET in Toronto, Ontario. According to Akanda, the meeting will use the same physical location and the same online simulcast URL as previously announced.

Does the record date for voting change after Akanda's adjournment of the March 31, 2026 meeting?

No, the record date remains the close of business on February 26, 2026 and is unchanged by the adjournment. According to Akanda, eligible shareholders as of that date remain entitled to vote at the reconvened meeting.

Do shareholders who already submitted proxies need to resubmit them for Akanda's reconvened meeting?

No, previously submitted proxies will be voted at the reconvened meeting unless properly revoked before the meeting. According to Akanda, shareholders need not take further action unless they wish to change or revoke their prior proxy.

How can Akanda (AKAN) shareholders obtain help voting after the March 31, 2026 adjournment?

Shareholders can contact the company using the provided contact information for assistance with voting or proxy questions. According to Akanda, investor relations or the designated contact will help shareholders vote promptly ahead of the April 27, 2026 reconvened meeting.