Mr. Kiran Sidhu reports

AKANDA CORP. ANNOUNCES PRICING OF INITIAL PUBLIC OFFERING AND EXPECTS TO COMMENCE TRADING ON NASDAQ TOMORROW

Halo Collective Inc. today congratulated Akanda Corp. (Nasdaq: AKAN), an international medical cannabis company, on the pricing of its initial public offering of four million common shares at a price of $4.00 per share to the public for a total of $16-million of gross proceeds to Akanda, prior to deducting underwriting discounts, commissions and other offering expenses. All figures are in United States dollars unless otherwise stated.

All of the common shares in the offering by Akanda. Akanda intends to use the proceeds primarily for property, plant and equipment, operations, working capital, and general corporate purposes.

Akanda has received approval to list its common shares on the Nasdaq Capital Market, with its common shares expected to begin trading on March 15, 2022, under the symbol AKAN. The offering is expected to close on March 17, 2022, subject to customary closing conditions. Halo is Akanda's largest shareholder owning 12,674,957 common shares, representing approximately 44 per cent of issued and outstanding pro forma common shares postclosing of the offering.

"Halo congratulates Louisa Mojela, Tej Virk and the entire Akanda team on this milestone accomplishment. We believe Akanda will become the first exclusive African, British or European plant-touching cannabis company to be listed on Nasdaq," commented Kiran Sidhu, Halo's chief executive officer. "We believe Akanda is well positioned to be one of the world's leading platforms for medical cannabis, just as several international countries, including Germany, are moving increasingly toward legalization. Halo is proud to be Akanda's largest shareholder."

Boustead Securities LLC is acting as the lead underwriter on the offering.

About Halo Collective Inc.

Halo is a leading, vertically integrated cannabis company focused on the West Coast of the United States, and operates other emerging businesses in cannabidiol and non-psychotropic mushroom functional beverages. In its cannabis operations, the company cultivates, extracts, manufactures and distributes quality cannabis flower, oils and concentrates, and has sold hundreds of millions of grams of cannabis in the form of flower, prerolls, vape carts, edibles and concentrates since inception. The company sells a portfolio of branded cannabis products, including its proprietary Hush, Winberry Farms, Williams Wonder Farms and Budega brands, and under licence agreements with Papa's Herb, DNA Genetics, Terphogz and FlowerShop.

In Oregon, Halo has a combined 14 acres of owned and contracted outdoor and greenhouse cultivation. The company also operates Food Concepts LLC, a master tenant of a 55,000-square-foot indoor cannabis cultivation, processing and wholesaling facility in Portland.

In California, Halo maintains licences for extraction, manufacturing and distribution. The company has partnered with Green Matter to purchase the Bar X Farm in Lake county, and plans to develop up to 63 acres of cultivation, comprising one of the largest licensed single-site grows in California. Halo is opening three retail dispensaries in Los Angeles under the Budega brand in North Hollywood, Hollywood and Westwood.

Halo is also expanding into other consumer health and wellness categories expected to experience rapid growth in consumer demand, including functional supplements such as nootropic nutraceuticals. The company has recently agreed to acquire H2C Beverages, a company focused on cannabinoids and non-psychotropic mushroom functional beverages, and entered into a distribution and manufacturing agreement with Elegance Brands Inc. to propel the national distribution of beverages, capsules and topical supplements under H2C and Halo's functional mushroom brand Hushrooms. Halo has acquired a range of software development assets, including CannPOS, Cannalift, CannaFeels and a discrete sublingual dosing technology, Accudab. The company intends to reorganize these entities (including their intellectual property and patent applications) into a subsidiary called Halo Tek Inc., and to complete a distribution of the shares of Halo Tek to shareholders on record, at date to be determined.

Halo also operates three Kushbar retail cannabis stores located in Alberta, Canada.

Outside of North America, Halo is the largest shareholder of Akanda, an international medical cannabis company whose mission is to be the world's leading platform for medical cannabis and wellness products. Led by an experienced global leadership team and guided by the highest ethical standards, Akanda is building a unique seed-to-patient model that leverages the competitive advantages of its cultivation campus in the Kingdom of Lesotho, and a distribution marketplace and other innovative solutions designed to maximize patient access and choice. Halo also operates three Kushbar retail cannabis stores located in Alberta, Canada, leveraging its Oregon and California brands.

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