Akanda Announces Closing of Subsequent Registered Direct Offering

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 UK-based licensed pharmaceutical importer and distributor, and partnerships with Cellen Life Sciences' Leva Clinic, a digital pain clinic in the UK [6] Offering Details - Akanda has closed its second registered direct offering, selling 2,491,381 common shares at a price of $0.1031 and 12,057,600 pre-funded warrants at $0.103 per share [2] - The gross proceeds from this offering were approximately $1,500,000, which will be used for capital expenditures, operating capacity, working capital, general corporate purposes, and refinancing existing debt [3] Regulatory Compliance - The securities were offered under an effective shelf registration statement on Form F-3, which was declared effective on January 29, 2024 [4] - The final prospectus supplement related to the offering was filed with the SEC on May 20, 2024, and is available on the SEC's website [4]