Akanda Corporation Announces $12 Million Convertible Note Offering in Private Placement Transaction
Reuters
Sep 13
Akanda Corporation Announces $12 Million Convertible Note Offering in Private Placement Transaction
Akanda Corp., a company listed on NASDAQ under the ticker AKAN, has announced the execution and closing of a securities purchase agreement for a $12.0 million convertible promissory note offering. This private placement transaction involves the issuance of 12-month convertible notes. The proceeds from this offering will be allocated as follows: up to $3.5 million for marketing purposes, funds for the renewal and development of the Company's Gabriola, B.C. site, up to $3 million for working capital and general corporate purposes, and up to $7 million for debt repayment. The notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws. Further details about the notes and the transaction will be available in the Company's Form 6-K, which will be filed with the U.S. Securities and Exchange Commission and accessible at https://www.sec.gov.
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