On September 24, 2026, Akanda Corp.'s Board of Directors determined it would cease pursuing cannabis cultivation or related businesses, including the planned development of THC and CBD facilities. Instead, the company will focus on its First Towers & Fibers Corp. subsidiary and other potential targets. Consequently, Akanda declined to pay the next option payment under its Amended and Restated Option to Purchase agreement with 1107385 B.C. LTD., dated September 22, 2023. This decision terminated the company's right to acquire or use the BC Property located at 1900 Ferne Road, Gabriola Island, British Columbia, which includes related operations and licenses. The company had not cultivated any product from this property. Akanda Corp. operates in the cannabis industry.
