Akanda Corp Closes Initial Public Offering

Akanda Corp. (“Akanda” or the “Company”), an international medical cannabis company, today announced the completion 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 the Company (the “Offering”), prior to deducting underwriting discounts, commissions, and other Offering expenses.

All of the common shares were offered by Akanda. The Company intends to use the proceeds primarily for property, plant and equipment, operations, working capital and general corporate purposes.

The Company has listed its common shares on The Nasdaq Capital Market, effective March 15, 2022, under the symbol “AKAN.”

Boustead Securities, LLC served as the lead underwriter for the Offering.

A registration statement on Form F-1, as amended (File No. 333-262436) relating to the common shares was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on March 14, 2022. 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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