AKANDA CORP.

Akanda Corp. announced a significant strategic shift, deciding to discontinue all cannabis cultivation and related business activities. The company will instead redirect its focus towards growing and managing its subsidiary, First Towers & Fibers Corp., and exploring other potential business ventures. As a consequence of this decision, Akanda Corp. has terminated its option agreement for a Canadian THC and CBD farming facility located in British Columbia, forfeiting its right to acquire or use the property.

Akanda Corp.'s subsidiary, First Towers & Fiber Corp. (FTF), announced the completion of its 200-kilometer fiber optic network installation in Mexico. The first 100 kilometers have been accepted by a client and entered the billing phase, with initial lease cash flow expected in August/September 2026. The remaining 100 kilometers are slated for client acceptance by December 2026, with the full network projected to achieve commercial run-rate cash flow by January 2027. This expansion includes a strategic focus on the Guanajuato region, enhancing FTF's telecommunications infrastructure and recurring revenue potential.

Akanda Corp. announced it received a notification from Nasdaq regarding non-compliance with the minimum stockholders' equity requirement of $2.5 million. The company reported a negative stockholders' equity of $-11,990,437 as of December 31, 2025, and also failed to meet alternative listing standards. Akanda has 45 days, until July 31, 2026, to submit a plan to regain compliance, with a potential extension of up to 180 days. The notice does not immediately affect the listing of its common shares.

Akanda Corp. announced it has regained compliance with Nasdaq Listing Rule 5250(c)(1), which mandates timely filing of periodic financial reports. The company achieved compliance by filing its Annual Report on Form 20-F for the fiscal year ended December 31, 2025, with the SEC on June 9, 2026. Nasdaq confirmed the company's compliance on June 10, 2026, closing the matter that arose from a non-compliance notification on May 20, 2026.

Akanda Corp. announced it received a noncompliance letter from Nasdaq for failing to timely file its Annual Report on Form 20-F for the fiscal year ended December 31, 2025. The company intends to file the report as soon as practicable and must submit a plan to regain compliance by July 19, 2026, with a potential extension until November 16, 2026. Failure to regain compliance could lead to delisting. Additionally, Akanda canceled its special meeting of shareholders, previously adjourned multiple times, due to an anticipated lack of quorum.

Akanda Corp. has rescheduled its Special Meeting of Shareholders to Monday, May 25, 2026, at 10:00 am EST, following two previous adjournments. The meeting will take place in Toronto and will also be simulcast on the Zoom platform, though voting requires in-person attendance or a duly completed proxy. Shareholders will consider special resolutions to amend the company's Articles, including decreasing authorized capital by deleting Class A Special Shares and amending Part 6 to allow Class B Special Shares to convert into Common Shares at the Corporation's discretion, followed by their deletion from authorized capital. Management recommends voting for all resolutions.

Akanda Corp. announced that its special meeting of common shareholders, convened on April 27, 2026, was adjourned due to a lack of quorum. The meeting will be reconvened on Monday, May 25, 2026, at 10:00 a.m. Toronto time, at the offices of Gowling WLG in Toronto.