Akanda Corp. announced its plans to evaluate and pursue strategic investments in the expanded legalized German market. On April 1, 2024 Germany became the third European Union country to legalize cannabis for personal use after Malta and Luxembourg.

The new law legalizes recreational possession, individuals to grow up to three plants, and joining cannabis clubs to buy up to 25 grams per day. As a result of the expanded cannabis legalization, Akanda anticipates exciting potential growth opportunities in the German market and is reviewing potential acquisitions and strategic investments in the region. The Company is optimistic about these prospects and will look to focus on a pathway for commercialization in the German market.

The sectors of particular interest to the Company are cultivation, production, retail and dispensaries; where the team management and board have significant experience. Akanda believes the expansion both in medical and allowing for recreational use may increase German patient and consumer demand and likewise German regulators will create an infrastructure of imports and licensed manufacturing to accommodate its growing market. Akanda plans to closely monitor regulatory developments and the licensing process as well as evaluate current licensed operating targets for acquisition.

The Company also anticipates the landmark reforms in Germany could have an impact on cannabis drug policy across Europe as other countries may adopt Germany?s approach. The company also announced its plans to enter the blockchain and artificial intelligence sector of the cannabis industry. With an increasingly complex and global supply chain for the international cannabis industry, the Company believes companies and consumers will turn to blockchain and smart contracts to verify the authenticity of genetics, plants, and products alike.

There are numerous advantageous applications of this technology such as harnessing blockchain capabilities to certify all clones, or baby plants, with a batch certificate. Cannabis nurseries specialize in plant genetics, producing clones and baby plants and seeds for the purpose of wholesale distribution. Akanda believes Blockchain solutions will complement the artificial intelligence capability being developed at Canmart.

Presently Canmart plans to partner with a platform developed by its directors to make medical cannabis more accessible to UK patients both with social shopping trends and tailored products. Access Kaneh utilizes an AI algorithm that analyzes DNA vis a vis products in the UK market. EndoDNA is a breakthrough test that matches patients with solutions for an individualized wellness journey.

The Company believes there are additional applications of artificial intelligence to augment the cannabis industry. Manufacturers are developing automated processes that allow extraction cycles to be completed with minimal human input or quality control of flower and collect efficiency data from the process as well. Akanda is evaluating less capital intensive applications too such as enhancing consumer education and responsible consumption of the product and a feedback loop to personalize research and development and ultimately strains that are grown locally.