Akanda’s CanMart Subsidiary to Distribute Award-Winning Cannim Cannabis Products to UK Patients

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CanMart has entered a distribution agreement for Cannim’s award-winning medical cannabis products to be available to patients across Britain

Akanda Corp. (“Akanda” or the “Company”) today announced that its wholly-owned subsidiary, CanMart Ltd. (“CanMart”), has entered into a distribution agreement with Australia-based Cannim to bring the award-winning Lumir range of medical cannabis products to UK patients. CanMart will import and distribute Cannim’s full-spectrum medical cannabis oil products over a five-year agreement. Cannim satisfies the Australian market with an award-winning Lumir CBD50 which was recently recognised as CBD Product of the Year at the Australian Cannabis Industry Awards.

“Patients in the UK will now have access to Cannim’s high-quality Jamaica-grown medical cannabis products for the first time,” said Tej Virk, CEO and Director of Akanda. “This is another step in our effort to establish an international supply chain based on a unique ‘open marketplace’ model that provides patients with maximum choice. By bringing together the best third-party products from around the world and combining it with our own high-quality products cultivated at our Bophelo campus in Lesotho from DNA Genetics, we are democratizing access to medical cannabis.”

Added Stuart Marsh, Cannim’s Chief Commercial Officer, “The UK is an important link in a string of new market entries obtained by Cannim in recent months, including securing access to the burgeoning German medicinal cannabis market in August launching into Australia under the Hummingbud brand in September. Thanks to our partnership with CanMart, we are pleased to add the UK to that footprint. We have been impressed by CanMart’s deep expertise and knowledge of the UK market, which has been instrumental in securing the relevant approvals to introduce British patients to our products.”

About Akanda Corp.

Akanda is an international medical cannabis company seeking to help patients around the world lead better lives by democratizing access to cannabis-based medicine and wellness products. Akanda’s initial portfolio includes Bophelo Bioscience & Wellness, a GACP qualified cultivation and processing campus in the Kingdom of Lesotho in Southern Africa focused on cultivating ethically sourced cannabis of the highest quality at a low-cost compared to many of its competitors, and CanMart, a UK-based fully approved pharmaceutical importer and distributor which supplies pharmacies and clinics within the U.K.

A cornerstone of Akanda’s value system is its fundamental commitment to using its operations as a force for sustainability and social good. Akanda will seek to deliver on this promise by driving positive change in wellness, empowering individuals in Lesotho, and by uplifting the quality of the lives of employees and the local communities where it operates – while limiting its carbon footprint. Adhering to best practice ESG operating and disclosure standards is among Akanda’s highest priorities.

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About Cannim

Established in 2017, Cannim was founded on the vision of moving cannabis from the darkness into the light© and helping bring the benefits of medicinal cannabis to the world. Since that time, Cannim has invested in farms, GMP production facilities and initiating research in Jamaica and Australia utilizing expertise for these activities from Israel, Jamaica, the U.S., UK and Australia. It operates with an international network of EU GMP (Good Manufacturing Practice) manufacturers and channels to market.

Cannim’s circular integrated business is built on three key pillars of Safety, Science and Scale©, and is focused on delivering premium quality products, consistently and reliably to patients globally. This long-term vision is integral to Cannim’s approach to improving its consumers’ health and wellness, delivering ‘Better Balanced Bodies’© and establishing world-leading medicinal and wellness cannabis brands.

Contacts

Investor Contact

Matt Chesler, CFA
FNK IR
ir@akandacorp.com

Media Contact

United States:
Annie Grant
Allison + Partners
akanda@allisonpr.com

Europe:
Imogen Saunders
Irvine Partners
imogen@irvinepartners.co.uk