Akanda Corp.'s Chief Executive Officer On Paid Leave of Absence

Akanda Corp.'s Chief Executive Officer On Paid Leave of Absence

LONDON, December 21,

2022 - International medical cannabis platform company Akanda Corp. ("Akanda" or the "Company") (NASDAQ: AKAN)

today announced that Chief Executive Officer Tej Virk has been on a paid leave of absence both administrative and personal since November

30, 2022, pending an independent investigation being conducted by Canmart Directors and counsel. During his leave, Mr. Virk is not expected

to perform any responsibilities as the Chief Executive Officer of the Company or any responsibilities as an officer of any of the Company's

Company's Board of Directors has appointed Katie Field, one of the Company's Directors, as an Executive Director. Together

with the other Directors, Ms. Field will provide interim management and the Company will continue to serve its customers, employees,

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. Akanda's portfolio includes Holigen, a Portugal-based cultivator, manufacturer and distributor

with a prized EU GMP certified indoor grow facility; CanMart, a UK-based fully licensed pharmaceutical importer and distributor which

supplies pharmacies and clinics within the UK; and Bophelo Bioscience & Wellness, a GACP qualified cultivation campus in the Kingdom

of Lesotho in Southern Africa. The Company's seed-to-patient supply chain also includes partnerships with California-based Cookies,

the most globally recognized cannabis company in the world; Cansativa Group, a leading importer and distributor of medical cannabis in

Europe; and Cellen Life Sciences' Leva Clinic, one of the first fully digital pain clinics in the UK.

with Akanda: Email | Website | LinkedIn | Twitter | Instagram

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.