24/7 Market News Snapshot 22 August, 2025 – Akanda Corp. Common Shares (NASDAQ:AKAN)
DENVER, Colo., 22 August, 2025 (www.247marketnews.com) – (NASDAQ:AKAN) are discussed in this article.
Akanda Corp. (NASDAQ:AKAN) has experienced a remarkable upward trajectory in its stock performance, opening today at $1.30 and witnessing a 13.13% increase to $1.482. This notable surge, accompanied by a trading volume of 1.59 million shares, indicates a growing investor interest and bullish sentiment surrounding the company, particularly reflecting positive market dynamics in the cannabis sector. Observers are encouraged to monitor key resistance levels above the current price while identifying support at the opening mark, as further trading volume increases may reinforce this upward trend.
In a significant development for the company, Akanda Corp. has successfully completed its acquisition of First Towers & Fiber Corp., a pivotal step that bolsters its strategic growth and operational capabilities. Finalized on August 21, 2025, this transaction positions Akanda as a formidable entity in the telecommunications infrastructure domain. Under the Share Exchange Agreement initiated on March 5, 2025, Akanda acquired all common shares of First Towers in an arrangement that includes the issuance of convertible Class A and Class B Special Shares, contingent on shareholder approval, alongside a 24-month promissory note to a previous First Towers shareholder. This acquisition enables Akanda to assume the existing debts and liabilities of First Towers, streamlining its operational efficiency.
A representative from Akanda expressed enthusiasm about the integration of First Towers, emphasizing the acquisition’s potential to enhance capabilities not only in telecommunications but also in the cannabis farming sector. Meanwhile, Akanda is committed to developing its pre-revenue farming property in British Columbia with plans for state-of-the-art THC and CBD facilities. While cultivation is set to commence soon, the company remains positioned for expansion in the growing cannabis market. Looking ahead, Akanda prepares for an upcoming Special Meeting on August 29, 2025, where it will seek shareholder approval for additional class share issuances, marking a significant chapter in its growth narrative.