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Akanda Corporation Announces 1-for-10 Reverse Stock Split
LONDON--(BUSINESS WIRE)-- International medical cannabis platform company Akanda Corp. ("Akanda" or the “Company”) (NASDAQ: AKAN) an Ontario company,
About this update from Akanda Corp.
[{"type":"text","content":" LONDON--(BUSINESS WIRE)--\nInternational medical cannabis platform company Akanda Corp. (\"Akanda\" or the “Company”) (NASDAQ: AKAN) an Ontario company, reported that it expects to implement a 1-for-10 reverse stock split on its ordinary shares effective Thursday March 9, with trading to begin on a split-adjusted basis at the market open on that day. Trading in the ordinary shares will continue on the Nasdaq Capital Market under the symbol “AKAN”. The new CUSIP number for the ordinary shares following the reverse stock split is 00971M205.\n\nUpon the effectiveness of the reverse stock split, every 10 shares of the Company’s issued and outstanding ordinary shares will automatically be converted into one issued and outstanding ordinary share. No fractional shares will be issued as a result of the reverse stock split. Instead, any fractional shares that would have resulted from the split will be rounded down to the next whole number. The reverse stock split affects all shareholders uniformly and will not alter any shareholder’s percentage interest in the Company’s outstanding ordinary shares, except for adjustments that may result from the treatment of fractional shares.\n\nThe reverse stock split at a ratio of 1-for-10 shares was approved by the Company’s board of directors and its shareholders. The Company filed Articles of Amendment with the Ontario Ministry of Government and Consumer Services to reflect the reverse stock split.\n\nAbout Akanda Corp.\n\nAkanda is an international medical cannabis and wellness platform company seeking to help people lead better lives through improved access to high quality and affordable products. Akanda’s portfolio includes Holigen, a Portugal-based cultivator, manufacturer and distributor with a prized EU GMP certified indoor grow facility; CanMart, a UK-based fully licensed pharmaceutical importer and distributor which supplies pharmacies and clinics within the UK; and Bophelo Bioscience & Wellness, a GACP qualified cultivation campus in the Kingdom of Lesotho in Southern Africa. The Company’s seed-to-patient supply chain also includes partnerships with California-based Cookies, a leading globally recognized cannabis company; Cansativa Group, a leading importer and distributor of medical cannabis in Europe; and Cellen Life Sciences’ Leva Clinic, one of the first fully digital pain clinics in ...