Welcome to our dedicated page for Akanda Common Shares news (Ticker: $AKAN), a resource for investors and traders seeking the latest updates and insights on Akanda Common Shares stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Akanda Common Shares's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
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Akanda Corp. (NASDAQ: AKAN) announces the sale of its Portuguese subsidiary, RPK BioPharma, to Somai Pharmaceuticals for $2 million. The transaction signifies a commitment to advancing the medical cannabis industry and improving patient access to high-quality treatments. Akanda will strengthen its financial position and focus on its UK subsidiary, Canmart, while expanding operations in Canada.
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-14.33%
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Rhea-AI Summary
Akanda Corp. (NASDAQ: AKAN) announces the sale of its Portuguese subsidiary, RPK BioPharma, to Somai Pharmaceuticals for $2 million. The deal includes a $500,000 escrow deposit and signifies a key milestone in advancing the medical cannabis industry. Akanda aims to strengthen its position in the global market through its UK subsidiary, Canmart, and the Gabriola Green Project in Canada.
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-14.33%
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Akanda Corp. (NASDAQ: AKAN) receives court order to postpone annual shareholder meeting to March 23, 2024, allowing more time for preparations.
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3.07%
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Akanda Corp. (NASDAQ: AKAN) seeks court approval to extend the deadline for its annual shareholder meeting to facilitate negotiations for the potential sale of a significant portion of its assets. The Company aims to combine the approval of the potential transaction with other annual and special matters to avoid duplication of efforts and expenses.
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-3.3%
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Akanda Corp. (NASDAQ: AKAN) highlights the booming UK cannabis market with a significant increase in medical cannabis imports and patient growth. The UK market has seen substantial growth since the government allowed bulk imports in 2020, making it the second largest market in Europe. Canmart, the Company's UK subsidiary, aims to expand patient access and establish direct sales channels to meet the growing demand.
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-25.26%
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Akanda Corp. (NASDAQ: AKAN) announced the closing of a registered direct offering, raising approximately $708,000 in gross proceeds. The offering included the sale and issuance of 280,851 common shares and pre-funded warrants to purchase 1,462,991 common shares. Akanda plans to utilize the net proceeds for capital expenditures, operating capacity, working capital, general corporate purposes, and refinancing or repayment of existing indebtedness. The securities were offered under an effective shelf registration statement on Form F-3 and were made available through a prospectus supplement and accompanying base prospectus.
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Akanda Corp. (NASDAQ: AKAN) announces its active monitoring of US federal policy developments regarding the rescheduling and/or descheduling of cannabis under the Controlled Substances Act. The company anticipates potential changes in NASDAQ and NYSE rules, with plans to consolidate US-based operators. The US cannabis industry is projected to grow from $27 billion in 2022 to $50.7 billion by 2028 according to the Brightfield Group.
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Akanda Corp. announces a securities purchase agreement with accredited investors, offering 280,851 common shares at $0.406 per share and pre-funded warrants to purchase 1,462,991 common shares. The gross proceeds are estimated to be approximately $708,000 before deducting financial advisor fees and other offering expenses.
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Akanda Corp. has entered into an Amended Non-Binding Letter of Intent with Somai Pharmaceuticals Ltd. for the sale of its Portuguese subsidiary, RPK. The purchase price has been amended to USD $2,000,000 from USD $2,700,000, which includes all current liabilities of RPK, approximately 4,000,000 Euros. A deposit of USD $500,000 will be placed in an escrow account, with the remainder due upon successful completion of the transaction. The closing of the proposed transaction will be subject to customary due diligence, representations and warranties, covenants, indemnities, and closing conditions.
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1.03%
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Akanda Corp. (NASDAQ: AKAN) received a 180-day extension from Nasdaq to regain compliance with the minimum $1.00 bid price requirement. The company now has until July 1, 2024, to achieve compliance. If not, the shares may be subject to delisting.
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End-of-Day
-6.12%
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Akanda Corp. Common Shares
Nasdaq:AKAN
AKAN Rankings
AKAN Stock Data
1.08M
2.21M
14.02%
0.5%
0.02%
Medicinal and Botanical Manufacturing
Manufacturing
United States of America
New Romney