Akanda Corp (AKAN) Settles with Ex-CEO Tejinder Virk

May 13, 2024 6:08 PM EDT

Akanda Corp. (NASDAQ: AKAN) ("Akanda" or the "Company"), today announced a settlement agreement with former chief executive officer and director, Tejinder Virk, concluding a series of disputes that commenced following Mr. Virk's resignation on February 3, 2023.

The settlement resolves all outstanding claims and disputes Mr. Virk had with the Company and its subsidiaries, providing a clear path forward and allowing all parties to focus on their future endeavors without the overhang of previous disagreements.

Katharyn Field, Chief Executive Officer of Akanda Corp, commented, "Our decision to settle is in the best interest of everyone involved. It allows us to continue dedicating our resources and attention to strategic priorities without distraction."

The agreement includes a waiver of all claims related to Mr. Virk's employment and its termination. Any queries relating to the settlement should be addressed to the Company's UK counsel, Paul McAleavey of Girlings Solicitors LLP.

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