Akanda Corp. Announces Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Core Viewpoint - Akanda Corp. has announced a registered direct offering to raise approximately $2.5 million through the sale of common shares and pre-funded warrants, aimed at general working capital and corporate expenses [2][3]. Group 1: Offering Details - The offering includes 2,491,381 common shares priced at $0.1031 each and 21,756,922 pre-funded warrants at $0.103 per share, with the warrants being immediately exercisable at $0.0001 [2]. - The gross proceeds from the offering are estimated to be around $2,500,000 before deducting fees and expenses [3]. - The offering is expected to close on or about May 17, 2024, pending customary closing conditions [3]. Group 2: Regulatory Information - The offering is conducted under an effective shelf registration statement on Form F-3, previously filed with the SEC and effective since January 29, 2024 [4]. - A final prospectus related to the offering will be filed with the SEC and will be available for free on the SEC's website [4]. Group 3: Company Overview - Akanda Corp. is an international medical cannabis company focused on improving access to high-quality and affordable products [6]. - The company's portfolio includes CanMart, a licensed pharmaceutical importer and distributor in the UK, and partnerships with Cellen Life Sciences' Leva Clinic [6]. - Akanda is also developing a Canadian farming property in British Columbia for THC and CBD facilities [6].