Akanda Corporation Announces $12 Million Convertible Note Offering to Fuel Expansion Efforts
Akanda Corporation has announced a significant expansion through a $12.0 million convertible note offering. The company has executed and closed a securities purchase agreement with institutional investors for the purchase of 12-month convertible promissory notes. The raised funds will be allocated towards marketing, the renewal and development of the company's site in Gabriola, B.C., as well as general corporate purposes and debt repayment. Univest Securities, LLC served as the exclusive placement agent for the offering, with legal counsel provided by Ruskin Moscou Faltischek PC and Sullivan & Worcester LLP. The notes and related shares have not yet been registered under the Securities Act of 1933. Further details on the transaction will be available in the company's Form 6-K filing with the SEC.
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