Akanda Corp. Acquires Holigen Limited from The Flowr Corporation

May 2, 2022

Akanda Corp. (NASDAQ: AKAN) has completed the acquisition of Portugal-based Holigen Limited from The Flowr Corporation, adding EU‑GMP cultivation, manufacturing and distribution capabilities as well as an award‑winning genetics library. The deal consideration included approximately US$3.0 million in cash, 1.9 million Akanda common shares and the assumption of roughly US$4.3 million of non‑recourse debt; Akanda also purchased Flowr shares for approximately US$790,000 and provided interim funding to Holigen prior to closing.

Buyers
Akanda Corp.
Targets
Holigen Limited
Sellers
The Flowr Corporation
Industry
Pharmaceuticals
Location
Portugal
Transaction Type
Buyout

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