Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQB: HCANF) (Germany: A9KN) today congratulates Akanda Corp. (“Akanda”) (NASDAQ: AKAN), an international medical cannabis company, on the pricing of its initial public offering of 4,000,000 common shares at a price of $4.00 per share to the public for a total of $16,000,000 of gross proceeds to Akanda (the “Offering”), prior to deducting underwriting discounts, commissions, and other Offering expenses.
All of the common shares in the Offering by Akanda. Akanda intends to use the proceeds primarily for property, plant and equipment, operations, working capital, and general corporate purposes.
Akanda has received approval to list its common shares on The Nasdaq Capital Market, with its common shares expected to begin trading on March 15, 2022, under the symbol “AKAN.” The Offering is expected to close on March 17, 2022, subject to customary closing conditions. Halo is Akanda’s largest shareholder owning 12,674,957 common shares, representing approximately 44% of issued and outstanding proforma common shares post-closing of the Offering.
“Halo congratulates Louisa Mojela, Tej Virk, and the entire Akanda team on this milestone accomplishment. We believe Akanda will become the first exclusive African, British, or European plant-touching cannabis company to be listed on NASDAQ,” commented Kiran Sidhu, Halo’s Chief Executive Officer. “We believe Akanda is well-positioned to be one of the world’s leading platforms for medical cannabis, just as several international countries, including Germany, are moving increasingly toward legalization. Halo is proud to be Akanda’s largest shareholder.”
Boustead Securities, LLC is acting as the lead underwriter on the Offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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