Akanda Determined That It Was No Longer Going To Pursue The Cultivation Of Cannabis Or Any Future Cannabis-Related Businesses; Going To Focus Its Business Efforts On Growth, Management Of Its First Towers & Fibers Corp. Subsidiary, Potentially Other Business Targets; Declined To Pay Next Option Payment Due Under Its Amended And Restated Option To Purchase Agreement With 1107385 B.C. LTD; Company’s Right To Acquire Or Use The BC Property Under The Option Agreement Has Been Terminated

On September 24, 2026, Akanda Corp. announced it will cease all cannabis cultivation and related business activities, shifting its focus to managing its First Towers & Fibers Corp. subsidiary and exploring other business opportunities. The company declined to make the next payment under its Option Agreement with 1107385 B.C. LTD., resulting in the termination of its right to acquire a THC and CBD farming facility in British Columbia. Akanda has not cultivated any products from this property.