Business
Canmart Ends CEO Service Agreement; Akanda Approves Appointment of Director
LONDON--(BUSINESS WIRE)-- International medical cannabis platform company Akanda Corp. (“Akanda” or the “Company”) (NASDAQ: AKAN) today announced its
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) today announced its subsidiary Canmart Ltd. brought Tejinder Virk’s Service Agreement dated June 2, 2021 (the “Service Agreement”) to an immediate end with effect from February 13th, 2023.\n\nAs disclosed on February 7th, 2023, the Company disclosed Mr. Virk’s attempt to end the Service Agreement without providing the requisite period of notice required under the Service Agreement, his interpretation of the Service Agreement, and allegations of Breach of Contract. On February 13th, 2023, the Company informed Mr. Virk that it had reached the conclusion that it has a right to bring the Service Agreement to an end with immediate effect. Accordingly, Mr. Virk was summarily dismissed and will be paid through February 13th.\n\nThe Akanda Board of Directors is searching for a candidate to succeed Mr. Virk as Chief Executive Officer and Executive Director. Executive Director Katie Field has assumed his duties in the interim.\n\nOn February 13th, 2023, the Board of Directors of the Company also met to approve the appointment of David Jenkins as a Director of the Company. Mr. Jenkins will be replacing Yuying Liang, who informed the Company that she will be resigning as a Director, effective once Mr. Jenkins’ appointment to the Board of Directors has been finalized. Mr. Jenkins is a global financier with an extensive network of high net-worth investors. He has experience in public markets and has secured millions of dollars in capital for the mining industry. Mr. Jenkins currently serves as an independent director for Levitee Labs Inc. He holds a position as an independent director at Boundary Gold and Copper Mining LTD. , as well as with Quantum Battery Metals Corp., and with Montego Resources.\n\nMs. Liang has advised that her resignation was due to personal reasons and not due to any disagreement with the Company on any matter related to the operations, policies, or practices of the Company.\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 ...