Akanda Adjourns Special Meeting of Shareholders

Akanda (NASDAQ: AKAN) adjourned its Special Meeting of Shareholders on April 29, 2026, because a quorum was not present and no business was transacted.

Rhea-AI Summary

Akanda (NASDAQ: AKAN) adjourned its Special Meeting of Shareholders on April 29, 2026, because a quorum was not present and no business was transacted. The meeting will reconvene in person in Toronto on May 25, 2026 at 10:00 a.m. ET. Previously submitted proxies will be voted at the reconvened meeting unless properly revoked. The record date for voting remains February 26, 2026. The company is soliciting additional proxies and will send a notice of adjournment to eligible shareholders; the meeting location and online simulcast URL will remain unchanged.

Argus Apr 29 session

+48.60% close to close Open Argus

Details

News Market Reaction – AKAN

On Apr 29, the day this news came out, AKAN closed 48.60% above the previous close.

Data tracked by StockTitan Argus for the Apr 29 session.

Market Context

On Apr 29, the day this news came out, the stock closed 48.6% above the previous close. A strong pos...

Analysis

On Apr 29, the day this news came out, the stock closed 48.6% above the previous close. A strong positive reaction aligns with elevated trading volume, as AKAN traded 1.54x its 20‑day average and gained 44.55% ahead of this governance update. Historically, investor response to governance and financing news has been mixed, with some capital actions drawing pressure and others support. The lack of a clear sector move and peers trading lower suggests the move reflected stock‑specific dynamics, which can reverse quickly if momentum fades or future announcements shift sentiment.

Key Figures

Meeting reconvene date: May 25, 2026 Quorum shareholders: At least 2 shareholders Quorum ownership threshold: 10% of outstanding shares +5 more

Meeting reconvene date

May 25, 2026

Date for reconvened Special Meeting in Toronto at 10:00 a.m. ET

Quorum shareholders

At least 2 shareholders

Minimum number of shareholders required to form quorum

Quorum ownership threshold

10% of outstanding shares

Minimum voting power required for business at Meeting

Record date

February 26, 2026

Shareholders entitled to vote at reconvened Meeting

Current share price

$17.675

Price before this news; up 44.55% over prior 24 hours

52-week range

$2.295 – $209.025

Current price far below 52-week high, well above low

Market cap

$6,466,458

Equity value before the Special Meeting adjournment news

Meeting time

10:00 a.m. Eastern Time

Start time for reconvened Special Meeting in Toronto

Historical Context

5 past events · Latest: Apr 09

5 events

1. Apr 09

   Reverse stock split

   24h Move

   -3.9%

   Implemented 1-for-4.5 reverse split reducing outstanding common shares substantially.

2. Apr 07

   Meeting adjournment

   24h Move

   -1.3%

   Special meeting adjourned due to lack of quorum; reconvening set for April 27, 2026.

3. Mar 26

   Fiber acquisition

   24h Move

   -12.9%

   Expanded Mexican dark fiber network to ~900 km with deal adding $2.0M contracted cash flow.

4. Feb 27

   Network overview

   24h Move

   +13.1%

   Highlighted ownership of ~700-km dark fiber network in Central Mexico and growth plans.

5. Jan 23

   Convertible note deal

   24h Move

   +11.1%

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

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

3 terms

quorum regulatory

"without transacting any business due to the absence of a quorum."

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

"additional time to solicit proxies from shareholders in order to achieve"

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"

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.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Toronto, Ontario--(Newsfile Corp. - April 29, 2026) - Akanda Corp. (NASDAQ: AKAN) ("Akanda" or the "Company") today 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, May 25, 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.

A notice of adjournment will be sent to all eligible shareholders in the same manner as the original notice of 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/294802

FAQ

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

Why did Akanda (AKAN) adjourn the Special Meeting on April 29, 2026?

The meeting was adjourned because a quorum was not present, so no business could be conducted. According to Akanda, at least two shareholders holding not less than 10% of outstanding voting shares were required to transact business, and that threshold was not met.

When and where will Akanda (AKAN) reconvene the adjourned Special Meeting?

Akanda will reconvene the adjourned Special Meeting in person in Toronto on May 25, 2026 at 10:00 a.m. ET. According to Akanda, the meeting location and the URL for the online simulcast will remain the same as originally announced.

Do shareholders who already voted for AKAN need to vote again for the reconvened meeting?

Shareholders who already submitted proxies do not need to take further action; those proxies will be voted at the reconvened meeting unless properly revoked. According to Akanda, previously submitted proxies remain valid for the May 25, 2026 reconvened meeting.

What was the record date for determining shareholders eligible to vote at Akanda's reconvened meeting (AKAN)?

The record date for eligibility to vote at the reconvened meeting remains the close of business on February 26, 2026. According to Akanda, that record date will determine which shareholders are entitled to vote at the May 25, 2026 meeting.

How can AKAN shareholders get help voting or receive the adjournment notice?

Shareholders can contact the company using the contact information provided for assistance and will receive a notice of adjournment in the same manner as the original meeting notice. According to Akanda, the company encourages prompt voting upon receipt of proxy materials.