Akanda Announces Closing of Registered Direct Offering

Core Points - Akanda Corp has successfully closed a registered direct offering, selling 2,491,381 common shares at $0.1031 each and 21,756,922 pre-funded warrants at $0.103 each, generating gross proceeds of approximately $2,500,000 [2][3]. Group 1: Offering Details - The offering included 2,491,381 common shares and 21,756,922 pre-funded warrants, with the warrants being immediately exercisable at $0.0001 per share [2][3]. - The offering was conducted under an effective shelf registration statement filed with the SEC, which was declared effective on January 29, 2024 [4]. Group 2: Use of Proceeds - Akanda intends to utilize the net proceeds for capital expenditures, enhancing operating capacity, working capital, general corporate purposes, and refinancing or repaying existing debt [3]. Group 3: Company Overview - Akanda is an international medical cannabis company focused on improving access to high-quality and affordable products, with a portfolio that includes CanMart, a licensed pharmaceutical importer and distributor in the UK [6]. - The company is also developing a Canadian farming property in British Columbia for THC and cannabinoid (CBD) production [6].