Akanda Corp 6-K, filed Aug 18, 2023
Akanda Corp. (AKAN)
About this 6-K
Akanda Corp filed this 6-K on August 18, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2023
Commission File Number: 001-41324
AKANDA CORP.
(Registrant’s Name)
1a, 1b Learoyd Road
New Romney TN28 8XU, United Kingdom
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Share Issuance Pursuant to the Conversion of a Promissory Note
On January 26, 2023, Akanda Corp. (the “Company”) issued a promissory note to Halo Collective Inc. (“Halo”) for a principal amount of Three Hundred Twenty-Eight Thousand Hundred Dollars ($328,000.00) (the “Note”). The Note bears an interest rate of 7% per annum and has a maturity date on June 25, 2023. If the amount payable is due, whether at stated maturity, by acceleration or otherwise, the overdue amount shall bear and accrue an interest rate of 1.25%.
On July 25, 2023, the Company and Halo entered into a Note Conversion Agreement to convert $360,960 of the total remaining outstanding balance, including accrued interest, under the Note into Common Shares of the Company at $0.62 per share (the “Conversion Shares”). The Company and Halo agreed that after the issuance of the Conversion Shares, the principal balance outstanding under the Note is $0. Upon satisfaction of complying with Nasdaq Capital Market rules, the Company issued 582,193 Common Shares to Halo in full satisfaction of the Note.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| AKANDA CORP. | |||
| By | : |
/s/ Katie Field | |
| Name | : | Katie Field | |
| Title | : | Executive Director | |
Date: August 18, 2023