Akanda books €1.8m of revenue in q4 2022 as german sales start

Frankfurt, germany & london--( business wire )--international medical cannabis company akanda corp. (“akanda” or the “company”) (nasdaq: akan, wkn: a3dg83) today announced that it successfully launched its initial supply to german customers recognizing approximately €1,803,996m 1 in sales of eu gmp high-quality indoor-grown medical cannabis in the last quarter of 2022. on a preliminary, unaudited basis, akanda has recognized its first material revenues since its inception, validating the company's strategy to enter the european markets supplying high-end indoor-grown cannabis. these revenues result from only two full months of sales, with the indoor facility shipping only an estimated 40% of the facility's capacity. the company prepares for the expansion of its indoor cultivation capabilities at its holigen facility after receiving test results for the highest percentage of thc potency in any cannabis product to be sold within germany and forecasts sales to double over the next six months.
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