Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2023
Commission File Number: 001-41324
(Name of registrant)
1a, 1b Learoyd Road
New Romney TN28 8XU, United Kingdom
principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
On July 6, 2023, Akanda Corp (the “Company”) issued
a press release entitled “Akanda Corp. Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency.” A copy of
the please release is filed as Exhibit 99.1 to this Current Report on Form 6-K and is incorporated herein by reference.
The press release furnished in this report as Exhibit 99.1 shall not be deemed to be “filed” for the purposes of Section 18
of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section.
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.
|Date: July 6, 2023
||/s/ Katie Field|
Akanda Corp. Receives Nasdaq Notification Regarding Minimum Bid
LONDON, July 6,
2023 - International medical cannabis platform company Akanda Corp. ("Akanda" or the “Company”)
(NASDAQ: AKAN) today announced that the Company has received a written notification (the “Notification Letter”) on July 3,
2023 from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq"), notifying
the Company that it is not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2).
It resulted from the fact that the closing bid price of the Company's common shares, no par value ("Common Shares"), was below $1.00 per
share for a period of 30 consecutive business days.
The Notification Letter does
not impact the Company’s listing on the Nasdaq Capital Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A),
the Company has been provided 180 calendar days, or until January 1, 2024 to regain compliance with Nasdaq Listing Rule 5550(a)(2).
To regain compliance, the Company’s common shares must have a closing bid price of at least $1.00 for a minimum of 10
consecutive business days. In the event the Company does not regain compliance by January 1, 2024 the Company may be eligible
for additional time to regain compliance or may face delisting.
The Company’s business
operations are not affected by the receipt of the Notification Letter. The Company intends to monitor the closing bid price of its Common
Shares and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse stock
split of its Common Shares to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.
About Akanda Corp.
an international medical cannabis and wellness platform company seeking to help people lead better lives through improved access to high
quality and affordable products. Akanda’s portfolio includes Holigen, a Portugal-based cultivator, manufacturer and distributor
with a prized EU GMP certified indoor grow facility; CanMart, a UK-based fully licensed pharmaceutical importer and distributor
which supplies pharmacies and clinics within the UK. The Company’s seed-to-patient supply chain also includes partnerships
with California-based Cookies, the most globally recognized cannabis company in the world; Cansativa Group, a leading importer
and distributor of medical cannabis in Europe; and Cellen Life Sciences’ Leva Clinic, one of the first fully digital
pain clinics in 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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