Akanda Has Regained Compliance with Nasdaq's Minimum Bid Price Requirement London, UK

Compliance with Nasdaq's Minimum Bid Price Requirement

London, UK, June 12, 2024 -- Akanda

Corp. ("Akanda" or the "Company") (NASDAQ: AKAN), an international medical cannabis company, today announced that

it has received a letter (the "Compliance Notice") from the Listing Qualifications Department of The Nasdaq Stock Market Inc.

("Nasdaq") dated June 7, 2024, informing the Company that it has regained compliance with Nasdaq Listing Rule 5550(a)(2) (the

"Minimum Bid Price Requirement").

As previously announced, Akanda received a

notification letter from Nasdaq dated July 3, 2023 indicating that its common shares failed to maintain a minimum bid price of $1.00 over

the previous 30 consecutive business days as required by the Listing Rules of Nasdaq. According to the Compliance Notice, since then,

Nasdaq has determined that for 10 consecutive business days, from May 23, 2024 to June 6, 2024, the closing bid price of the Company's

common shares has been at $1.00 per share or greater, and accordingly the Company has regained compliance with the Minimum Bid Price Requirement

and the matter is closed.

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.

Akanda's portfolio includes CanMart, a UK-based fully licensed pharmaceutical importer and distributor which supplies pharmacies

and clinics within the UK. The Company's seed-to-patient supply chain also includes partnerships Cellen Life Sciences' Leva

Clinic, one of the first fully digital pain clinics in the UK. Akanda also acquired the right to develop a Canadian farming property in

British Columbia, including farming land and related operations and licenses. The Company plans to develop THC and cannabinoid (CBD) facilities

Connect 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 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" and similar expressions

and include statements regarding the timing and completion of the proposed offering. 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.