Akanda Plans First Shipment of Medical Cannabis to Germany and Anticipates Leading Market Share Position - Seite 2

“Akanda’s push into the German medical cannabis market gives it an edge over its North American competitors in Europe, and this is the focus of the company's growth,” commented Akanda’s CEO Tej Virk. “German adult-use draft legislation is expected to be introduced either at the end of this year or early next, and the legislation to pass later in 2023. Other European countries may follow soon after given Germany’s prominence as the largest economy in the European Union. If cannabis is legalized for adult-use, the German cannabis market could reach €4.7bn ($4.6bn) per year², according to the Düsseldorf Institute for Competition Economics. Akanda’s strong positioning in the medical market, gives it an early mover advantage to lead this new and lucrative market. We have begun to partner with global brand leaders in quality and innovation like Cookies to capture market share in the current medical market and the future regulated adult-use market once it becomes a reality.”

Akanda recently announced an exclusive license agreement with iconic international cannabis lifestyle brand Cookies. The multi-year agreement enables Akanda to pursue the current medical and future adult-use opportunities in Europe with arguably one of the best-known cannabis brands and highest quality genetics in the world. Akanda intends to initially produce EU GMP certified Cookies branded high THC medical cannabis products at its flagship indoor premium cultivation and manufacturing facility in Sintra. Additionally, Akanda is able to exclusively open and operate Cookies branded pharmacy outlets throughout Portugal.

Akanda has also enlisted renowned cannabis experts to help its push to lead the European market, including Terry Booth who was an original founder of Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB). Booth led Aurora from its infancy to a market cap of nearly $10 billion, one of the world’s largest and fastest growing cannabis companies, with a focus on providing high-quality medical and adult use cannabis, and spearheaded the development of one of the first EU GMP certified medical cannabis production facilities in Canada.

About Akanda Corp.

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 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.