Unprecedented Scale and Investment to Connect Mexico
Toronto, Ontario--(Newsfile Corp. - October 1, 2025) - Akanda Corp. (NASDAQ: AKAN) ("Akanda") and its 100% owned subsidiary First Towers & Fiber Corp. ("FTF" or the "Company"), expands on the size and scale of Mexico's telecommunications infrastructure project, under the Red Compartida initiative. Altán Redes is undertaking one of the largest telecommunications undertakings in Mexico's history. The mission: to close the digital divide by building a wholesale LTE/4G (and progressively 5G-ready) network that will reach the vast majority of the Mexican population. As a preferred contractor of Altán Redes, every tower that FTF builds is expected to not only expand network coverage and drives greater usage across Mexico, but also directly increase cash flow to FTF.
Project Scope & Reach
The network is contracted to cover approximately 92.2% of Mexico's population through its open access shared wireless network using the 700 MHz band.1 This coverage equates to serving well over 100 million people, including many rural and underserved localities where traditional operators have not invested.2
Financial Commitments & Investment
The full scale of the Red Compartida project is underpinned by a contract and capital investment expected to exceed USD $7 billion over the life of the concession.3 As of recent reports, for the deployment of infrastructure-comprising of cell towers and fiber‐optic backbone-Altán Redes, in partnership with the Mexican Federal Electricity Commission (CFE) via its CFE-TEIT arm, has planned investments in the order of MXN$30 billion (approximately USD $1.7-1.8 billion) for the infrastructure portion.4
Progress to Date
Over 11,383 telecommunications towers have been installed as a result of the Red Compartida project,5 and the deployment has delivered internet service access to 82,178 localities-home to over 24 million people, particularly those in communities of 250 to 5,000 inhabitants which are often overlooked by conventional commercial operators.6
Financial Partners & Structure
The project is built on a public-private partnership model. Key partners include Mexican infrastructure funds, Macquarie Investment Group, International Finance Corporation (IFC), a subsidiary of the World Bank, Morgan Stanley and other private operators such as Axtel and Megacable. CFE-TEIT now plays a central role in managing the network deployment and operations.
About Akanda Corp.
Akanda Corp., through its cannabis subsidiaries with operations in North America, is dedicated to cultivating and distributing high-quality cannabis and wellness products that improve lives. Its mission is to provide safe, reliable, and accessible cannabis products to consumers worldwide while promoting sustainable business practices.
First Towers is focused on tower development and operating its 700+km fiber optic network in the attractive wireless market of Mexico, with an intention to expand to other Latin American countries. It is a wholly-owned subsidiary of Akanda Corp.
For further information, contact:
AKANDA CORP. GENERAL ENQUIRIES
E: ir@akandacorp.com
Forward-Looking Statements
This press release contains " forward-looking statements." Such statements which are not purely historical (including, but not limited to statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "intends," "would," "could" and "estimates") are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Important factors, among others, that may affect actual results or outcomes include: (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) risks that could adversely affect Akanda or the expected benefits of its recent acquisition of FTF (the "Transaction") or that the approval of the stockholders of Akanda to authorize and issue its Class B Special Shares, or to approve the Transaction, is not obtained; (iii) failure to realize the anticipated benefits of the Transaction; (iv) the limited operating history of each of Akanda and FTF; (v) the ability of Akanda and its subsidiaries to grow and manage growth effectively; (vi) the ability of Akanda and its subsidiaries to execute their business plans; (vii) estimates of the size of the markets for Akanda's and its subsidiaries' products and services; (viii) the rate and degree of market acceptance of Akanda's products and services; (ix) Akanda's ability to identify and integrate acquisitions; (x) future investments in technology and operations; (xi) potential litigation involving Akanda; (xii) risks relating to the uncertainty of projected financial information; (xiii) the effects of competition on Akanda's businesses; (xiv) developments and changes in laws and regulations; (xv) the impact of significant investigative, regulatory or legal proceedings; (xvi) general economic and market conditions impacting demand for Akanda's products and services; (xvii) the ability to meet Nasdaq's listing standards; (xviii) the ability of Akanda to raise capital, and to issue equity or equity-linked securities in connection with the Transaction or in the future; (xix) the ability of Akanda to manage its significant debt load and liabilities; (xx) such other risks and uncertainties as are discussed in Akanda's Annual Report on Form 20-F filed with the SEC or in other documents Akanda files from time to time with the SEC. Akanda expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Akanda's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this press release, and Akanda assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Although Akanda believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in Akanda's reports and statements filed from time-to-time with the Securities and Exchange Commission.
1 Capacity Media
2 Capacity Media
3 The Fast Mode
4 Mexico Business News
5 Mexico Business News
6 Mexico Business News
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