Akanda Corp 6-K, filed Mar 15, 2022
Akanda Corp. (AKAN)
About this 6-K
Akanda Corp filed this 6-K on March 15, 2022.
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 March 2022
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): ¨
EXHIBIT INDEX
On March 14, 2022, Akanda Corp. issued a press release announcing the pricing of its initial public offering, a copy of which is furnished herewith as Exhibit 99.1 to this Report on Form 6-K.
The press release furnished in this report as Exhibit 99.1 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section.
|
Exhibit No. |
Description | |
| 99.1 | Akanda Corp. Announces Pricing of Initial Public Offering | |
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/ Tejinder Virk | |
| Name | : | Tejinder Virk | |
| Title | : | Chief Executive Officer and Director | |
Date: March 14, 2022
Exhibit 99.1
Akanda Corp. Announces Pricing of Initial Public Offering
London, March 14, 2022 – Akanda Corp. ("Akanda" or the “Company”), an international medical cannabis company, today announced the pricing of its initial public offering of 4,000,000 common shares at a price of $4.00 per share to the public for a total of $16,000,000 of gross proceeds to the Company (the “Offering”), prior to deducting underwriting discounts, commissions, and other Offering expenses.
All of the common shares are being offered by Akanda. The Company intends to use the proceeds primarily for property, plant and equipment, operations, working capital and general corporate purposes.
The Company has received approval to list its common shares on The Nasdaq Capital Market, with its common shares expected to begin trading on March 15, 2022, under the symbol "AKAN." The Offering is expected to close on March 17, 2022, subject to customary closing conditions.
Boustead Securities, LLC is acting the lead underwriter for the Offering.
A registration statement on Form F-1, as amended (File No. 333-262436) relating to the common shares was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on March 14, 2022. A final prospectus relating to the Offering will be filed with the SEC and will be available on the SEC's website at http://sec.gov. A copy of the final prospectus related to the Offering may be obtained, when available, from Boustead Securities, LLC, via email: offerings@boustead1828.com or by calling 1 (949) 502-4408 or requested by standard mail at Boustead Securities LLC: Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Akanda Corp.
Akanda 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. The Company is building a seed-to-patient supply chain, connecting patients in the UK and Europe with diverse products including cannabis products cultivated at its competitively advantaged grow operation in the Kingdom of Lesotho and with other trusted third-party brands. Akanda’s initial portfolio includes Bophelo Bioscience & Wellness, a GACP qualified cultivation campus in the Kingdom of Lesotho in Southern Africa, and CanMart, a UK-based fully licensed pharmaceutical importer and distributor which supplies pharmacies and clinics within the UK.
Connect with Akanda: Email | Website | LinkedIn | Twitter | Instagram
Investor Contact
Matt Chesler, CFA
FNK IR
ir@akandacorp.com
Media Contacts
United States:
Annie Grant
Allison + Partners
akanda@allisonpr.com
Europe:
Imogen Saunders
Irvine Partners
imogen@irvinepartners.co.uk
Underwriter Contact
Boustead Securities, LLC
offerings@boustead1828.com
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Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Akanda's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Akanda's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking information may relate to anticipated events or results including, but not limited to business strategy, product development and sales and growth plans. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Akanda does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
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