Cannabis Company Kaya Holdings, Inc. (OTCQB:KAYS)
to Sell Kaya Shack
Retail Marijuana
Store
Franchises in Canada.
PORTLAND,
OR -- March
12,
2019 --
InvestorsHub NewsWire -- Kaya
Holdings, Inc. (OTCQB:
KAYS) announced today that it has retained
the law offices of Garfinkle Biderman
LLP
of Toronto
to marshal an
agreement
to franchise
its Kaya Shack brand of cannabis dispensaries in Canada. The
Company is currently in the
final stages of talks with a leading Ontario based
franchise-consulting group to lead the sales
effort, and expects to
enter into an area representative agreement calling
for a
multi-year structured
rollout of up to 75 Kaya Shack Retail Marijuana locations
throughout Canada, subject to
market conditions.
"We
have
always viewed our activities in Oregon as our learning ground,
allowing us the opportunity to develop our business and operational
models in one of the more competitive and dynamic cannabis markets.
To paraphrase a famous phrase, we figure if we can make it in
Oregon we can make it anywhere"
commented Craig Frank, Kaya Holdings' CEO. "We have learned quite a
bit in our nearly 5 years of operations and we have
the
structure
(manuals, training, etc.), the operational methodologies, and a
joyful, feel good
concept that is
well suited for Canada.
We look
forward to serving the Canadian market, and
utilizing the experience to perfect our
franchise infrastructure so we can consider
it as a
basis for growth in the United States, should regulations
permit."
About Kaya Holdings, Inc. (www.kayaholdings.com)
and the Kaya
Shack brand (www.kayashack.com)
of licensed medical and recreational marijuana stores.
KAYS (OTCQB:
KAYS), through subsidiaries, produces, distributes or sells
legal premium medical and recreational cannabis products, including
flower, concentrates and oils, and cannabis-infused foods. In 2014,
KAYS, became the first publicly traded company to own and operate a
Medical Marijuana Dispensary. Since that time KAYS has expanded and
presently operates four Kaya Shack OLCC licensed marijuana retail
stores to service the legal medical and recreational marijuana
market in Oregon (www.kayashack.com).
Additionally,
in late 2017 KAYS acquired a 26-acre parcel in Lebanon, Oregon
which it has targeted for development of the Kaya Farms Marijuana
Grow Complex, and has completed the recent purchase of the Eugene,
Oregon based Sunstone Farm Facility which holds OLCC (Oregon Liquor
Control Commission) Licenses for both the production (growing) and
processing of medical and recreational marijuana flower and
cannabis concentrates/extracts/edibles.
IMPORTANT
DISCLOSURE: KAYS is planning execution of its stated business
objectives in accordance with current understanding of State and
Local Laws and Federal Enforcement Policies and Priorities as it
relates to Marijuana (as outlined in the Justice Department's U.S.
Attorney General Jeff Sessions Memo dated January 4, 2018, and
subsequent commentary from the U.S. Attorney for the District of
Oregon Billy Williams), and plans to proceed cautiously with
respect to legal and compliance issues. Potential investors and
shareholders are cautioned that KAYS and MJAI will obtain advice of
counsel prior to actualizing any portion of their business plan
(including but not limited to license applications for the
cultivation, distribution or sale of marijuana products, engaging
in said activities or acquiring existing Cannabis production/sales
operations). Advice of counsel with regard to specific activities
of KAYS, Federal, State or Local legal action or changes in Federal
Government Policy and/or State and Local Laws may adversely affect
business operations and shareholder value.
Forward Looking Statements
This press release includes statements that may constitute
"forward-looking" statements, usually containing the words
"believe," "estimate," "project," "expect" or similar expressions.
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to,
acceptance of the Company's current and future products and
services in the marketplace, the ability of the Company to develop
effective new products and receive regulatory approvals of such
products, competitive factors, dependence upon third-party vendors,
and other risks detailed in the Company's periodic report filings
with the Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release.
For more
information contact Investor Relations: 561-210-7664