Akanda Corp (AKAN) has released an update.
Akanda Corp, a NASDAQ-listed international medical cannabis company, has decided to halt equity financing for a 30-day period while exploring strategic investment opportunities in the global cannabis and technology markets. The company has recently completed public offerings amounting to nearly $6 million and sold its subsidiary, RPK, resulting in a $4 million debt reduction and over $1.5 million in net cash. Interim CEO Katie Field emphasizes a cautious approach to investing, aiming to strengthen Akanda’s cash position without increasing the company’s expenditure rate.
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