Akanda Corp. Announces Cancellation of Special Meeting

Akanda Corp (NASDAQ: AKAN) cancelled its special shareholder meeting that was to be held on May 25, 2026.

Rhea-AI Summary

Akanda Corp (NASDAQ: AKAN) cancelled its special shareholder meeting that was to be held on May 25, 2026.

The meeting, previously adjourned from March 31 and April 27, 2026, cannot proceed because the required quorum of at least two shareholders holding 10% of voting shares is not expected to be met.

Argus May 22 session

+15.60% close to close Open Argus

Details

News Market Reaction – AKAN

In the May 22 session, AKAN gained 15.60%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock surged +15.6% in the session following this news. A strong positive reaction aligns with p...

Analysis

The stock surged +15.6% in the session following this news. A strong positive reaction aligns with prior volatility around governance and structural announcements, such as earlier meeting adjournments and corporate actions. Investors monitoring AKAN may weigh that the core catalyst here is the cancellation of a special meeting due to lack of quorum, while the stock already trades 88.75% below its 52-week high yet is up 61.68% over 24 hours. Past reactions to positive operating news have not always been sustained.

Key Figures

Meeting time: 10:00 a.m. EST Meeting date: May 25, 2026 Quorum shareholders: At least 2 shareholders +1 more

Meeting time

10:00 a.m. EST

Cancelled special meeting scheduled for May 25, 2026

Meeting date

May 25, 2026

Cancelled special meeting date

Quorum shareholders

At least 2 shareholders

Minimum number of shareholders required for quorum

Quorum ownership threshold

10% of outstanding shares

Minimum ownership required for quorum at the meeting

Historical Context

5 past events · Latest: Apr 29

5 events

1. Apr 29

   Meeting adjournment

   24h Move

   +48.6%

   Special meeting adjourned again after failing to reach quorum.

2. Apr 09

   Reverse stock split

   24h Move

   -3.9%

   Implementation of 1-for-4.5 reverse stock split and share consolidation.

3. Apr 07

   Meeting adjournment

   24h Move

   -1.3%

   Special meeting on March 31 adjourned due to lack of quorum.

4. Mar 26

   Fiber acquisition

   24h Move

   -12.9%

   Dark fiber network expansion with USD $2.0M contracted cash flow.

5. Feb 27

   Network overview

   24h Move

   +13.1%

   Disclosure of largest ~700-km dark fiber network in Central Mexico.

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

Key Terms

special meeting, quorum, proxy

3 terms

special meeting regulatory

"announced the cancellation of the special meeting of shareholders"

A special meeting is a shareholder gathering called outside the regular annual meeting to decide on urgent or specific corporate matters, such as mergers, major asset sales, changes to the board, or shareholder proposals. It matters to investors because decisions made there can quickly alter a company’s strategy, ownership or value—like a sudden boardroom decision that changes the game—so shareholders may need to vote, adjust holdings, or reassess risk based on the outcome.

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 presence, in person or by proxy, of at least two 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.

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

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Toronto, Ontario--(Newsfile Corp. - May 22, 2026) - Akanda Corp. (NASDAQ: AKAN) (the "Company") today announced the cancellation of the special meeting of shareholders that was to be held at 10:00 am est on Monday, May 25, 2026, which was originally scheduled for March 31, 2026, adjourned to Monday, April 27, 2026 and subsequently further adjourned.

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 it does not appear that this threshold will be met, no business can be conducted.

About Akanda Corp.

Akanda Corp., through its cannabis subsidiary with operations in Canada, is seeking to cultivate and distribute 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.

First Towers & Fiber Corp., a wholly-owned subsidiary of Akanda Corp., is focused on tower development and operating its 700+km fiber optic network in the attractive wireless market of Mexico, with an intention to expand to other Latin American countries.

Company Contact

ir@akandacorp.com

Forward-Looking Statements

The information in this press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions, or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intends," "may," "will," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company's shares on Nasdaq; changes in applicable laws or regulations; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industries in which Akanda and its subsidiaries operate; the risk that Akanda and its current and future collaborators are unable to successfully develop and commercialize Akanda's products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that Akanda is unable to secure or protect its intellectual property; the possibility that Akanda may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in Akanda's filings from time to time with the Securities and Exchange Commission.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298613

FAQ

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

Why did Akanda Corp (NASDAQ: AKAN) cancel its May 25, 2026 special shareholder meeting?

Akanda cancelled the May 25, 2026 special shareholder meeting because it does not expect to reach the required quorum. According to Akanda, without enough shareholders present in person or by proxy, no business can be conducted at the meeting.

What quorum is required for Akanda Corp's special shareholder meeting for AKAN stock?

The special meeting requires a quorum of at least two shareholders holding not less than 10% of outstanding voting shares. According to Akanda, because this quorum threshold is unlikely to be met, the meeting is cancelled and no business can proceed.

When was Akanda Corp's cancelled AKAN special meeting originally scheduled to occur?

The cancelled special meeting was originally scheduled for March 31, 2026. According to Akanda, it was later adjourned to April 27, 2026 and then to May 25, 2026 before ultimately being cancelled due to the expected lack of quorum.

What does the cancellation of Akanda Corp's special meeting mean for AKAN shareholders?

The cancellation means no business that required the special meeting can be conducted at this time. According to Akanda, the quorum of shareholders holding at least 10% of voting shares is not expected, so the meeting cannot legally transact any matters.

How many shareholders were needed for Akanda Corp's AKAN special meeting to proceed?

The meeting needed at least two shareholders present, in person or by proxy, holding not less than 10% of outstanding shares entitled to vote. According to Akanda, this minimum participation level is unlikely, prompting cancellation of the special meeting.