Canmart Ends CEO Service Agreement, Akanda Approves Appointment Of Director

Akanda Corp. AKAN announced its subsidiary Canmart Ltd. brought Tejinder Virk’s service agreement dated June 2, 2021 to an immediate end with effect from February 13^th, 2023.

On February 7^th, 2023, the company disclosed Virk’s attempt to end the service agreement without providing the requisite period of notice required under the service agreement, his interpretation of the service agreement, and allegations of breach of contract. On February 13^th, 2023, the company informed Virk that it had reached the conclusion that it has a right to bring the service agreement to an end with immediate effect. Accordingly, Virk was summarily dismissed and will be paid through February 13^th.

The Akanda board of directors is searching for a candidate to succeed Virk as CEO and executive director. Executive director Katie Field has assumed his duties in the interim.

On February 13^th, 2023, the board of directors of the company also met to approve the appointment of David Jenkins as a director of the company. Jenkins will be replacing Yuying Liang, who informed the company that she will be resigning as a director, effective once Jenkins’ appointment to the board of directors has been finalized. Jenkins currently serves as an independent director for Levitee Labs Inc. He holds a position as an independent director at Boundary Gold and Copper Mining LTD. , as well as with Quantum Battery Metals Corp., and with Montego Resources.

Liang has advised that her resignation was due to personal reasons and not due to any disagreement with the company on any matter related to the operations, policies, or practices of the company.

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