Akanda Corp. Extends Cannabis Investment Option

Akanda Corp. (NASDAQ: AKAN) has announced the extension of its option on a British Columbia cannabis asset for an additional two years. The company is working towards obtaining a full cultivation license for THC products and is currently operating under a hemp cultivation license. The extension underscores Akanda's commitment to its strategic vision in the global cannabis industry. During this period, the company plans to develop THC and CBD assets at the site, with payments tied to milestones such as THC cultivation, product sales, and CBD cultivation. The cultivation facility on Gabriola Island benefits from favorable growing conditions, including abundant sunshine, balanced rainfall, and moderate temperatures, which are expected to minimize mold and pest risks. Akanda Corp. is dedicated to producing high-quality, sustainable cannabis and wellness products.