Akanda Corp. Closes Initial Public Offering London

Akanda Corp. Closes Initial Public Offering

March 17, 2022 - Akanda Corp. ("Akanda" or the "Company"), an international medical cannabis

company, today announced the completion of its initial public offering of 4,000,000 common shares at a price of $4.00 per share to the

public for a total of $16,000,000 of gross proceeds to the Company (the "Offering"), prior to deducting underwriting discounts,

commissions, and other Offering expenses.

All of the common shares were offered by Akanda. The Company intends

to use the proceeds primarily for property, plant and equipment, operations, working capital and general corporate purposes.

The Company has listed its common shares on The Nasdaq Capital Market,

effective March 15, 2022, under the symbol "AKAN."

Securities, LLC served as the lead underwriter for the Offering.

A registration statement on Form F-1, as amended (File No. 333-262436)

relating to the common shares was filed with the Securities and Exchange Commission ("SEC") and was declared effective on

March 14, 2022. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities,

nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful

prior to registration or qualification under the securities laws of any such state or jurisdiction.

Akanda is an international medical cannabis and wellness platform company

seeking to help people lead better lives through improved access to high quality and affordable products. The Company is building a seed-to-patient

supply chain, connecting patients in the UK and Europe with diverse products including cannabis products cultivated at its competitively

advantaged grow operation in the Kingdom of Lesotho and with other trusted third-party brands. Akanda's initial portfolio includes

Bophelo Bioscience & Wellness, a GACP qualified cultivation campus in the Kingdom of Lesotho in Southern Africa, and CanMart,

a UK-based fully licensed pharmaceutical importer and distributor which supplies pharmacies and clinics within the UK.

with Akanda: Email | Website | LinkedIn |

Dan McClory, Head of Equity Capital Markets

Boustead Securities, LLC

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains certain "forward-looking information"

within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking

statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995.

Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition,

but instead represent only Akanda's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently

uncertain and outside of Akanda's control. Generally, such forward-looking information or forward-looking statements can be identified

by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected",

"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates"

or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain

actions, events or results "may", "could", "would", "might" or "will be taken", "will

continue", "will occur" or "will be achieved". Forward-looking information may relate to anticipated events or

results including, but not limited to business strategy, product development and sales and growth plans. The forward-looking information

and forward-looking statements contained in this press release are made as of the date of this press release, and Akanda does not undertake

to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance

with applicable securities laws.