Akanda Corp. Closes Initial Public Offering
March 17 2022 - 08:42PM
Business Wire
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.
About Akanda Corp.
Akanda is an international medical cannabis and wellness
platform company seeking to help people lead better lives through
improved access to high quality and affordable products. The
Company is building a seed-to-patient supply chain, connecting
patients in the UK and Europe with diverse products including
cannabis products cultivated at its competitively advantaged grow
operation in the Kingdom of Lesotho and with other trusted
third-party brands. Akanda’s initial portfolio includes Bophelo
Bioscience & Wellness, a GACP qualified cultivation campus in
the Kingdom of Lesotho in Southern Africa, and CanMart, a UK-based
fully licensed pharmaceutical importer and distributor which
supplies pharmacies and clinics within the UK.
Connect with Akanda: Email | Website | LinkedIn | Twitter |
Instagram
Cautionary Note Regarding
Forward-Looking Information and Statements
This press release contains certain "forward-looking
information" within the meaning of applicable Canadian securities
legislation and may also contain statements that may constitute
"forward-looking statements" within the meaning of the safe harbor
provisions of the United States Private Securities Litigation
Reform Act of 1995. Such forward-looking information and
forward-looking statements are not representative of historical
facts or information or current condition, but instead represent
only Akanda's beliefs regarding future events, plans or objectives,
many of which, by their nature, are inherently uncertain and
outside of Akanda's control. Generally, such forward-looking
information or forward-looking statements can be identified by the
use of forward-looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or may contain statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "will
continue", "will occur" or "will be achieved". Forward-looking
information may relate to anticipated events or results including,
but not limited to business strategy, product development and sales
and growth plans. The forward-looking information and
forward-looking statements contained in this press release are made
as of the date of this press release, and Akanda does not undertake
to update any forward-looking information and/or forward-looking
statements that are contained or referenced herein, except in
accordance with applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20220317006032/en/
Investor Contact
Matt Chesler, CFA FNK IR ir@akandacorp.com
Media Contacts
United States: Annie Grant Allison + Partners
akanda@allisonpr.com
Europe: Imogen Saunders Irvine Partners
imogen@irvinepartners.co.uk
Underwriter Contact
Dan McClory, Head of Equity Capital Markets Boustead Securities,
LLC dan@boustead1828.com
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