Akanda Corp. and its subsidiary First Towers & Fiber Corp. announced plans to expand leasing of an approximately 700-kilometre dark fiber network in Central Mexico.

Akanda Corp. (NASDAQ: AKAN) ("Akanda") and its 100% owned subsidiary First Towers & Fiber Corp. ("FTF" or the "Company"), an emerging telecommunications infrastructure developer in Mexico, announced today plans to further expand the leasing of its approximately 700-kilometre dark fiber optic network located in Central Mexico. The network represents the largest dark fiber infrastructure in the region, serving several of Mexico's most active industrial corridors and fastest-growing state economies.

The network was constructed following the execution of a 20-year long-term dark fiber lease agreement with Telefónica, the Spanish multinational telecommunications company, which serves as the Company's anchor tenant and currently leases two fiber pairs on the network.

FTF also leases dark fiber capacity to Marcatel, a rapidly growing telecommunications provider in Mexico. The network was designed with scalability and redundancy to support multiple additional tenants and incremental leasing opportunities, allowing the Company to increase recurring revenue with limited incremental capital investment.

The Company plans to pursue additional dark fiber lease agreements beginning in 2026, leveraging its established regional presence, operating experience, and relationships within the telecommunications sector.

Chris Cooper, President of First Towers & Fiber Corp., stated:

"Our dark fiber network was intentionally designed to support long-term scalability. We believe the significant available capacity within the network, combined with increasing demand for high-capacity fiber infrastructure, positions the Company to pursue additional leasing opportunities and enhance recurring revenue over time."

FTF believes that continued leasing of its dark fiber assets will further strengthen its role as a shared telecommunications infrastructure provider supporting growing connectivity requirements across Central Mexico.

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COMTEX_478419820/2227/2026-05-02T22:06:09