Akanda Corp. (NASDAQ: AKAN)

Akanda Corp., with the ticker symbol AKAN, operates in the medical cannabis industry, focusing on cultivation, manufacturing, and distribution. The company is based in London, United Kingdom, and has a limited operating history with minimal revenues so far. However, it is expanding its operations and product offerings to cater to the growing demand in the medical cannabis market.

Akanda Corp.'s core business activities involve cultivating, manufacturing, and distributing medical cannabis products such as dried flowers, oils, and other cannabis-based products. The company's operations are based in Europe, specifically in the United Kingdom and Germany, and it is looking to expand into other international markets. Its revenue is generated through the sale of products to pharmacies, clinics, and other healthcare providers. The primary product is EU GMP-certified indoor-grown cannabis flower, which is sold to pharmacies and clinics in the United Kingdom and Germany.

Holigen is a subsidiary of Akanda Corp., responsible for producing premium EU GMP-grade indoor-grown cannabis flower in Portugal. Holigen has a 20,000 square foot indoor EU GMP-certified grow facility near Sintra, Lisbon, and a 600,000 square foot outdoor facility in Aljustrel, Portugal. RPK Biopharma Unipessoal, LDA, another subsidiary of Holigen, handles the cultivation and manufacturing of cannabis products. The company has a purpose-built design, with all unnecessary equipment residing outside of the rooms to reduce contamination risk and self-contained modular grow rooms result in better environmental control.

In February 2024, Akanda Corp. entered into a definitive share purchase agreement with Somai Pharmaceuticals Ltd., Cannahealth, and Holigen to sell all the shares of RPK for a consideration of $2,000,000, subject to certain closing conditions, customary representations and warranties, covenants, and indemnification obligations. In February 2024, the company entered into a securities purchase agreement with an accredited investor in connection with the issuance and sale of 280,851 Common Shares at a purchase price of $0.406 per share, and pre-funded warrants to purchase 1,462,991 Common Shares at a purchase price of $0.4059 per pre-funded warrant. In March 2024, the company entered into a firm commitment underwriting agreement with Univest Securities, LLC to issue 3,087,443 Common Shares at a purchase price of $0.1217 per share, and pre-funded warrants to purchase 37,997,190 Common Shares at a purchase price of $0.1216 per pre-funded warrant.

Akanda Corp. operates in a highly competitive industry, with established competitors in the United Kingdom and Germany. In the United Kingdom, the company competes with The Lyphe Group, Grow Pharma, and IPS Pharma, while in Germany, it competes with Tilray Portugal, Unipessoal, Lda, Portocanna SA, Agrivab Medical Cannabis, and Clever Leaves Portugal Unipessoal Lda. Despite the competition, Akanda Corp. has established partnerships with several companies, including Cansativa Group, which allows the company to supply dried flowers from its EU GMP-certified indoor grow facility in Sintra, Portugal, to pharmacies in Germany. The company has also entered into an exclusive license agreement with international cannabis lifestyle brand Cookies, which enables it to pursue current medical and future adult-use opportunities in Europe with one of the best-known cannabis brands and highest quality genetics in the world.

In terms of its competitive advantages, Akanda Corp. has a strong focus on quality and compliance, with EU GMP-certified indoor-grown cannabis flower that meets the highest standards of quality and purity. The company's partnership with Cansativa Group and its exclusive license agreement with Cookies also provide it with a competitive edge in the market.