Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Exhibit 99.1
First Towers & Fiber Corp. Delivers First Cash Flow from New
200 KM Fiber Network, Eyes Expansion with Client
Toronto, Ontario--(Newsfile Corp. – September 4, 2026) - Akanda
Corp. (NASDAQ: AKAN) (“Akanda”) and its 100% owned subsidiary First Towers & Fiber Corp. (“FTF” or the “Company”),
an emerging telecommunications infrastructure developer in Mexico, today announced a series of operational and financial milestones that
mark a significant step forward in the Company’s transition into a recurring revenue-generating telecommunications infrastructure business.
First Cash Lease Payment Collected
FTF successfully collected its first cash lease payment in August 2026
from its new 200-kilometer fiber build-out, marking the Company’s transition from network build-out to active revenue generation. The
second monthly invoice was submitted in August, with cash collection scheduled for September/October 2026. Revenue realization on the
network remains fully on track.
Technical Delivery Ahead of Schedule
Technical delivery of the Company’s fiber network is advancing ahead
of Company expectations, with only a few remaining kilometers pending client sign-off. The Company believes that it is well positioned
to achieve full operational acceptance of the network ahead of its December 2026 target.
Strategic Value Driving Expansion Discussions
The initial 200-kilometer fiber network deployment has proven strategic
for the client’s regional coverage. Building on this success, FTF is now in discussions with the client to secure the allocation of additional
fiber kilometers, positioning the Company to expand its joint network footprint further.
Tower Portfolio Continues to Deliver Steady Income
The Company’s tower portfolio remains a reliable contributor to recurring
revenue, with all 28 cellular tower sites 100% active, radiating, and generating steady recurring lease income.
Chris Cooper, President of FTF, stated: “Collecting our first
cash lease payment on the new fiber network is a defining moment for First Towers & Fiber Corp. — it validates the strategy
we’ve been executing and marks our transition into a recurring revenue business. With technical delivery ahead of schedule, our tower
portfolio performing consistently, and active discussions underway to expand our fiber footprint with our client, we see strong momentum
heading into 2027.”
FTF remains committed to advancing connectivity through strategic infrastructure
growth and efficient service delivery, positioning itself as a reliable partner for telecom providers and the communities they serve.
About First Towers & Fiber Corp.
First Towers & Fiber Corp. 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.
For further information, contact:
AKANDA CORP. GENERAL ENQUIRIES
E: ir@akandacorp.com
Forward-Looking Statements
This press release contains “forward-looking statements.”
Such statements which are not purely historical (including, but not limited to statements that contain words such as “will,”
“believes,” “plans,” “anticipates,” “expects,” “intends,” “would,” “could”
and “estimates”) are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions
regarding the future.
Important factors, among others, that may affect actual results or
outcomes include: (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) failure to realize
the anticipated benefits of Akanda’s acquisition of FTF; (iii) the limited operating history of each of Akanda and FTF; (iv) the
ability of Akanda and its subsidiaries (collectively, “Akanda Group”) to grow and manage growth effectively; (v) the ability
of Akanda Group to execute their business plans; (vi) estimates of the size of the markets for Akanda Group’s products and services; (vii)
the rate and degree of market acceptance of Akanda Group’s products and services; (viii) Akanda Group’s ability to identify and integrate
acquisitions; (ix) future investments in technology and operations; (x) potential litigation involving Akanda Group; (xi) risks relating
to the uncertainty of projected financial information; (xii) the effects of competition on Akanda Group’s businesses; (xiii) developments
and changes in laws and regulations; (xiv) the impact of significant investigative, regulatory or legal proceedings; (xv) general economic
and market conditions impacting demand for Akanda Group’s products and services; (xvi) the ability to meet Nasdaq’s listing standards;
(xvii) the ability of Akanda to raise capital, and to issue equity or equity-linked securities in the future; (xviii) the ability of Akanda
to manage its significant debt load and liabilities; and (xix) such other risks and uncertainties as are discussed in Akanda’s Annual
Report on Form 20-F filed with the SEC or in other documents Akanda files from time to time with the SEC. Akanda expressly disclaims any
obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect
any change in Akanda’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is
based.
Actual results could differ from those projected in any forward-looking
statements due to numerous factors. These forward-looking statements are made as of the date of this press release, and Akanda assumes
no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected
in the forward-looking statements, except as required by law. Although Akanda believes that the beliefs, plans, expectations and intentions
contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove
to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure
outlined in Akanda’s reports and statements filed from time-to-time with the Securities and Exchange Commission.