Welcome to our dedicated page for AKANDA news (Ticker: AKAN), a resource for investors and traders seeking the latest updates and insights on AKANDA stock.
Akanda Corp. (NASDAQ: AKAN) generates news across both the cannabis and telecommunications infrastructure sectors. Company announcements highlight its work through cannabis subsidiaries with operations in Canada, focused on cultivating and distributing medical cannabis and wellness products, as well as its activities through First Towers & Fiber Corp., a wholly owned subsidiary that develops and operates telecom towers and a dark fiber network in Mexico.
News updates about Akanda often cover regulatory and licensing developments in cannabis, such as operating under a hemp cultivation license in British Columbia, researching security requirements for a full cultivation license, and extending an option on a Canadian cultivation asset. These releases describe plans to develop THC and CBD assets, implement Health Canada–aligned security measures, and pursue milestones related to cultivation and product sales.
On the telecommunications side, Akanda’s news frequently focuses on First Towers’ infrastructure buildout in Mexico. Articles describe an existing base of approximately 30 operational revenue-generating towers and a 700-kilometer dark fiber network, long-term lease agreements, and participation as a preferred contractor in the Altán Redes Red Compartida national telecom project. Additional coverage details plans to construct or acquire up to 20 new towers, with the goal of strengthening coverage, increasing network capacity, and supporting recurring revenue.
Investors and observers can also find news on corporate and capital markets events, including special meetings of shareholders, share consolidations (reverse stock splits), proxy procedures, and commentary on broader cannabis policy developments. This news page brings together these updates so readers can follow how Akanda’s cannabis operations and telecom infrastructure initiatives evolve over time.
Akanda Corp. (NASDAQ: AKAN), an international medical cannabis company, has announced a second securities purchase agreement with an accredited investor. The investor will purchase 2,491,381 common shares at a price of $0.1031 each and 12,057,600 pre-funded warrants at $0.103 per share in a registered direct offering. The pre-funded warrants have an exercise price of $0.0001 and are immediately exercisable. Gross proceeds to Akanda are estimated at $1.5 million before fees and expenses, with the offering expected to close around May 17, 2024. The net proceeds will be used for general working capital and corporate expenses. The offering is made under an effective registration statement filed with the SEC.
Akanda, an international medical cannabis company trading on NASDAQ under the symbol AKAN, has closed its registered direct offering. The offering involved the sale of 2,491,381 common shares at $0.1031 per share and 21,756,922 pre-funded warrants at $0.103 per share. The warrants are immediately exercisable at $0.0001 per share. Univest Securities acted as the exclusive financial advisor. Gross proceeds were approximately $2.5 million, before deducting fees and expenses. Funds will be used for capital expenditures, working capital, corporate purposes, debt repayment, and acquisitions.
Akanda Corp. (NASDAQ: AKAN), a medical cannabis company, announced a securities purchase agreement with an accredited investor. The investor will acquire 2,491,381 common shares at $0.1031 each and 21,756,922 pre-funded warrants at $0.103 per share. The warrants are immediately exercisable at $0.0001 per share. The gross proceeds are estimated at $2.5 million, which Akanda will use for working capital and corporate expenses. The offering, expected to close around May 17, 2024, is made under Nasdaq rules and involves Univest Securities as the financial advisor. The securities are registered under an effective shelf registration statement filed with the SEC.
Akanda Corp. (NASDAQ: AKAN) received a deficiency notification from Nasdaq on May 14, 2024, for not meeting the minimum stockholders' equity requirement of $2.5 million.
As per their Form 20-F for the fiscal year ending December 31, 2023, Akanda's stockholders' equity was reported at ($3,828,892).
The company has until June 28, 2024, to submit a compliance plan. If accepted, Nasdaq may grant an extension of up to 180 days. Akanda plans to submit a comprehensive plan within this timeframe.
Meanwhile, their Nasdaq listing remains unaffected, and shares continue to trade under the symbol 'AKAN'.
Katie Field, interim CEO, affirmed that immediate steps are being taken to address the issue and regain compliance.
Akanda Corp (NASDAQ: AKAN) announced a settlement agreement with former CEO Tejinder Virk. This settlement concludes disputes that began after Virk's resignation on February 3, 2023. The agreement resolves all outstanding claims and disputes, allowing both parties to focus on future endeavors. CEO Katharyn Field stated that the decision to settle is in the company's best interest, enabling them to allocate resources to strategic priorities without any distractions. The agreement includes a waiver of all claims related to Virk's employment and termination.
Akanda Corp. announces plans to capitalize on the pending landmark change in US drug policy to reschedule cannabis under the Controlled Substances Act, potentially leading to significant market opportunities. The company aims to become a leader in consolidating US-based operators, following the DEA's proposal to reclassify cannabis as a Schedule III substance.
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