Akanda completes acquisition of Holigen and wants to lead cannabis in EMEA

Akanda today completed the acquisition of Holigen, a subsidiary of Flowr Corporation, advancing its leadership position in cannabis in Europe, Middle East and Africa (EMEA), the corporation announced in Press release. Akanda thus adds culturing, manufacturing, distribution assets and a premium genetics library, accelerating the model promoted by the company “from seed to patient” and positioning it for “adult-use markets as regulations change.” evolve”.

The international medical cannabis company, which is listed on the NASDAQ: AKAN exchange, has announced that it has closed the acquisition of Holigen Limited from The Flowr Corporation (TSXV: FLWR , OTC: FLWPF), thereby improving the company's ability to respond to growing demand for medical cannabis.

“Holigen provides the superior genetics, capability and a route to market that Akanda needs to ensure it captures more than our share of the emerging cannabis market across the EMEA region,” said Tej Virk, CEO of Akanda. “Together with Holigen, we are positioned to be a leader in today's medical cannabis environment and have the ability to scale the recreational opportunity as it develops. Now that the acquisition is complete, I look forward to working with Tom Flow and his team to leverage both companies' platforms.”

Cannareporter met with Tej Virk and Tom Flow at the Holigen facility and will publish the interview with Tej Virk tomorrow.

Pursuant to the terms of the agreement, Akanda acquired 100% of the issued and outstanding shares of Holigen for a combination of approximately $3,0 million in cash, 1,9 million shares of Akanda common stock and assumed 4,3 million of RPK Biopharma's debt. In addition, to further align Akanda and Flowr, concurrent with the completion of the acquisition, Akanda purchased 14.285.714 shares of Flowr common stock for an aggregate gross income from Flowr of approximately $790. Akanda provided at least $678 in interim financing to Holigen to support its capital needs prior to closing the deal.

About Akanda Corporation

Akanda is an international medical cannabis and wellness platform company that seeks to help people live better lives through better access to high quality products. Akanda's portfolio includes Bophelo Bioscience & Wellness, a GACP-qualified cultivation campus in the Kingdom of Lesotho, Southern Africa; Holigen, a Portugal-based producer, manufacturer and distributor with an award-winning EU GMP certified indoor grow facility; and CanMart, a fully licensed pharmaceutical importer and distributor that supplies pharmacies and clinics in the UK. The company's patient seed supply chain also includes partnerships with Cellen Life Sciences' Leva Clinic, one of the first fully digital pain clinics in the UK, and Cantourage, which operates a platform to bring medical cannabis to Europe.

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Laura Ramos

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With a degree in Journalism from the University of Coimbra, Laura Ramos has a postgraduate degree in Photography and has been a Journalist since 1998. Winner of the Business of Cannabis Awards in the category "Journalist of the Year 2024", Laura was a correspondent for Jornal de Notícias in Rome, Italy, and Press Officer in the Office of the Minister of Education of the 21st Portuguese Government. She has an international certification in Permaculture (PDC) and created the street-art photography archive “Say What? Lisbon” @saywhatlisbon. Co-founder and Editor of CannaReporter® and coordinator of PTMC - Portugal Medical Cannabis, Laura directed the documentary “Pacientes” and was part of the steering group of the first Postgraduate Course in GxP's for Medicinal Cannabis in Portugal, in partnership with the Military Laboratory and the Faculty of Pharmacy of the University of Lisbon.

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