THC - NASDAQ-Traded Akanda Corp Secures Land Deal For CBD & THC Development | Benzinga
International medical cannabis company Akanda Corp. (NASDAQ: AKAN) (WKN: A3DG83) and 1107385 B.C. LTD has entered a purchase deal for farming land and related operations and licenses.
What Happened
Akanda said on Wednesday that it plans to issue a non-refundable payment of $1.8 million which, if paid in common shares of Akanda, will be based on a formula to calculate the per-share price as outlined in the agreement.
The initial payment will be broken up into three option payments: upon signing, 15 days after signing, and 30 days after signing, respectively.
Why It Matters
The move buys Akanda the ...