Akanda targets 10% of German medical cannabis market

Nov. 16, 2022 8:59 AM ETAkanda Corp. (AKAN)By: Dania Nadeem, SA News Editor

Akanda (NASDAQ:AKAN) is trading ~14% higher premarket after the company said it was targeting 10% market share in the German medical cannabis flower market in the near term.
The Company had recently announced its first shipment and sale to Germany from its EU GMP-certified indoor premium medical cannabis cultivation operation in Portugal.
The company said it will focus on core European operations and will exit Africa.
Akanda will assert its creditor claims concerning the unauthorized liquidation of its former subsidiary Bophelo in Lesotho.
"The Company now has Cookies genetics in Portugal and in production. Akanda plans to release a selection of top Cookies strains in 2023. The Company is also evaluating plans to expand grow rooms at the Sintra indoor facility and add custom grow pods at our Aljustrel site to rapidly scale production of premium indoor cannabis to meet increased demand from EU markets."