Akanda Corp. Announces Strategic Shift with Acquisition and Operational Changes

An announcement from Akanda Corp ( (AKAN) ) is now available.

Akanda Corp. announced on March 5, 2025, a Share Exchange Agreement with First Towers & Fibers Corp., aiming to acquire all of FTFC’s common shares, making it a wholly owned subsidiary. This business combination is expected to strengthen Akanda’s position in the telecommunications infrastructure sector. Concurrently, Akanda decided to cease its cannabis-based product operations in the UK, focusing instead on its Canadian farming property for future growth. The cessation of Canmart Ltd. was due to operational challenges and legal exposures, marking a strategic shift in the company’s focus.

More about Akanda Corp

Akanda Corp. is involved in the telecommunications infrastructure industry, focusing on developing, constructing, and owning such infrastructure in Mexico through its subsidiary, First Towers & Fibers Corp. The company also has interests in Canadian farming, particularly in developing THC and CBD facilities.

YTD Price Performance: -10.65%

Average Trading Volume: 91,305

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $2.15M

For detailed information about AKAN stock, go to TipRanks’ Stock Analysis page.