Akanda Receives Non-Compliance Notice from NASDAQ

May 17, 2024

DENVER, Colo., May 17, 2024 (247marketnews.com)- Akanda Corp. (NASDAQ:AKAN) received a deficiency notification letter from the Nasdaq on May 14, 2024, due to non-compliance with Nasdaq’s minimum stockholders’ equity requirement listing rule 5550(b)(1), which states that companies must maintain a minimum stockholder equity of $2,500,000.

Akanda has until June 28, 2024, or 45 calendar days, to submit a plan to regain compliance. If accepted, Nasdaq may grant Akanda an extension of up to 180 days from the date of the notification letter to evidence compliance.

Akanda’s Interim Chief Executive Officer, Katie Field, stated, “We are taking immediate steps to address this matter and are focused on actions that will lead to regaining compliance with Nasdaq’s listing requirements. We appreciate the continued support of our investors during this period.”

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