October 04, 2024 8:30 AM EDT | Source: Akanda Corp
London, United Kingdom–(Newsfile Corp. – October 4, 2024) – Akanda Corp. (“Akanda” or the “Company”), a global medical cannabis organization, recently finalized an underwriting agreement with Univest Securities, LLC (“Univest”) as the underwriter for an underwritten public offering. The Offering included 258,940 of the Company’s Common Shares and 1,241,060 pre-funded warrants to purchase Common Shares. The Company’s gross proceeds from the Offering were $1,500,000 before deducting underwriting discounts and expenses, with the net proceeds intended for various purposes such as capital expenditures, working capital, and potential milestone payments for certain Canadian properties.
Univest acted as the underwriter for the Offering, with the Underwriting Agreement containing standard representations, warranties, and covenants. The Offering closed on October 3, 2024.
This press release does not constitute an offer to sell securities and any sale will be conducted in accordance with applicable securities laws. Akanda Corp. operates internationally in the medical cannabis industry and is committed to providing high-quality products to improve the lives of consumers while promoting sustainable business practices.
About Akanda Corp.
Akanda Corp. is a global cannabis company with operations in Europe and North America. The company is dedicated to cultivating and distributing high-quality medical cannabis and wellness products to enhance the lives of consumers. Akanda’s mission is to provide safe, reliable, and accessible cannabis products globally while promoting sustainable business practices.
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Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains forward-looking information that represents Akanda’s beliefs regarding future events. These statements are made as of the date of this press release and may not be indicative of actual events or results. Forward-looking information may relate to anticipated business strategies, product development, and growth plans. Akanda does not undertake to update any forward-looking information contained herein except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225556
