Akanda shares surge 31.01% pre-market as company extends BC asset option and advances toward full THC cultivation license with Health Canada-compliant security measures.

Akanda Corp. (NASDAQ: AKAN) surged 31.01% in premarket trading following announcements that it extended its British Columbia asset option by two years and outlined plans to develop Health Canada–compliant security infrastructure for a full THC cultivation license. The company aims to transition from hemp to THC/CBD production, with milestone-based payments tied to cultivation and sales, positioning itself to capitalize on Canada’s projected $5.8–$7.2 billion cannabis market by 2030. The strategic move signals operational readiness and regulatory alignment, enhancing investor confidence in long-term growth potential. The telecom segment’s stable cash flow in Mexico was noted but did not drive the sharp premarket rally, which was primarily fueled by cannabis licensing advancements and market expansion prospects.