Akanda corp. announces closing of share exchange with first towers and fiber corp.

First towers develops, constructs and owns telecommunications infrastructure in mexico akanda reaffirms its continued focus on the growth of its pre-revenue canadian farming property in british columbia, at which the company plans to develop thc and cbd facilities toronto, ontario--(newsfile corp. - august 22, 2025) - akanda corp. (nasdaq: akan) ("akanda" or the "company") today announced that it consummated the transactions pursuant to the share exchange agreement, dated march 5, 2025 and as amended to date, with first towers & fiber corp., pursuant to which all of the common shares of first towers have been acquired by akanda and in exchange, akanda will issue to all but one of the former first towers shareholders a combination of its convertible class a special shares and convertible class b special shares, as, if and when akanda receives post-closing shareholder approval to issue the class a special shares and class b special shares. in addition, akanda is issuing a 24-month promissory note to one former first towers shareholder equal to the value of its first towers shares acquired by akanda, and is assuming the existing indebtedness and other liabilities of first towers.
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