Concerned shareholders of Akanda Corp. (NASDAQ:AKAN) have replaced a majority of the board of directors of the corporation, with highly-qualified and motivated directors.
The concerned shareholders of the corporation collectively own or control approximately 54.1% of the issued and outstanding common shares of Akanda, and on June 22nd passed a written resolution of the shareholders of the corporation pursuant to the provisions of the Business Corporations Act (Ontario) removing each of Louisa Mojela, Philip van den Berg, Charles Kié, Gila Jones, Gugu Dingaan and Bridget Baker as directors of the corporation, and electing each of Harvinder Singh, Mohsen Rahimi, Jatinder Dhaliwal and Kathryn Field to fill the vacancies created thereby, to serve the remaining terms of the outgoing directors, or until their successors are elected or appointed.
The actions taken follow an initial outreach to the former board of directors of Akanda by David Jenkins, a long-standing shareholder of the corporation. Jenkins, through his wholly-owned holding company 1306077 B.C. Ltd., owns approximately 6.8% of the issued and outstanding Akanda shares.
Jenkins stated: "As a long-term investor in Akanda, I wish to see Akanda managed prudently and professionally, with a view to the long-term best interests of the corporation. I am grateful for the support of my fellow shareholders who shared my concerns, and I look forward to a brighter future for all Akanda shareholders."
It is expected that the new board of directors of Akanda will soon meet to pass necessary resolutions following the reconstitution of the board concerning certain governance matters, including with respect to the committees of the board and to attend to such other transitional matters as may be required, and that the foregoing will be announced by the corporation in short order.
Harvinder Singh
Singh's long career has spanned over 30 years where he has worked as a CEO, COO and as product director for companies such as Ergolab, Lighting Manufacturing, Transact Network, Heathrow Medical Services among many others. Singh is regarded highly as a branding expert with a focus on European and far-East markets and has shown numerous occasions the ability to increase the penetration of products into markets by honing and improving them for individual markets and users.
Mohsen Rahimi
Rahim has management experience in a broad range of sectors, including commercial, retail and international import and export, having held senior positions at Kowsar Holdings and Tin95 Holdings, which are both private investment firms. In addition to now being a director of Akanda, Rahimi is a director of Modern Plant Based Foods Inc. (OTCPK:MDRNF) and Peakbirch Commerce Inc. (OTCQB:PKBFF), both Canadian Securities Exchange listed issuers, and Binovi Technologies Corp. (OTCQB:BNVIF), a TSX Venture Exchange listed issuer.
Jatinder Dhaliwal
Jatinder Dhaliwal is a registered pharmacist, and has significant capital markets experience. He has served as CEO and director of multiple publicly traded cannabis companies. He has served as a director of a licensed producer and extractor. He has extensive knowledge in agricultural, medical and pharmaceutical operations. Dhaliwal is a certified medical cannabis practitioner. He has overseen operations of numerous retail and commercial operations and implemented various health protocols and technology advances into health and wellness chains.
Katharyn Field
Field is currently president of Halo Collective, Inc. (NEO:HALO) (OTCQX:HCANF), a position she has held since February 2020. From April 2019 through February 2020, Field served as chief strategy officer at HALO. Field's resume includes senior positions at notable companies and institutions such as The White House, The Brookings Institution, and Bain & Company. Field operated a strategy consulting practice focused on cannabis and also worked at MariMed in 2018 as executive vice president of corporate development. Halo, of which Field is the president, holds approximately 41% of the voting securities of Akanda.
Tej Virk, a director and the current CEO of Akanda will remain in his position with the corporation.
Photo by Tim Foster on Unsplash
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