Kaya Holdings Hails Ontario's Lift of Cannabis Licensing Restrictions, Readies Fast Track Program for Kaya Shack™ Franc...
December 17 2019 - 12:35PM
InvestorsHub NewsWire
Kaya Holdings
Hails Ontario’s Lift of Cannabis Licensing Restrictions, Readies
Fast Track Program for Kaya Shack™ Cannabis Store
Franchises
FORT LAUDERDALE, FL -- December 17, 2019 --
InvestorsHub NewsWire -- Kaya Holdings, Inc. (OTCQB: KAYS) applauds the new rules for
cannabis retail licenses released by the government of Ontario that
reads, in part, “On December 12,
2019, the Government of Ontario announced
its move towards an open market for private cannabis
retail in Ontario and related amendments to Ontario Regulation
468/18 made under the Cannabis Licence Act,
2018”. Beginning in January
2020 the issuance of cannabis retail licenses will no longer be
coordinated through a lottery system, but rather through qualifying
in accordance with the eligibility criteria in the Cannabis License
Act, and upon licensing, demonstration of compliance with the
location, layout, security and other requirements to qualify for a
Retail Store Authorization.
“These changes
accelerate the launching of our Kaya Shack™ franchising program in
Canada. Over this past week we met with Jordan Druxerman, Partner
at Garfinkle Biderman (our Canadian Franchise Counsel and also a
KAYS Advisory Board Member), and have been in close contact with
Shawn Saraga of The Franchise Academy, who is under contract to
target the sale and development of up to 100 Kaya
Shack™ Retail Cannabis Store Franchises in
Canada,” commented Craig Frank, KAYS’ CEO.
“Both Jordan and Shawn expect these changes to
significantly enhance the prospects for success of our franchise
sales effort.”
“This good news out
of Canada is another potential win for KAYS as we continue our
strategic repositioning into global markets. Alongside last month’s
advances in the European arena, we are pleased with our
opportunities and momentum as we close out the year,” comments W.
David Jones, KAYS Senior Advisor for Business Development,
Licensing and Financial Operations, and a key architect of the
Company’s strategic shift. “2020 is poised to be a milestone year
for KAYS.”
Note: To be advised of all upcoming News Releases
and shareholder emails please go
to www.kayaholdings.com and add your email to our notification
list.
About Kaya Holdings,
Inc.
(www.kayaholdings.com)
Kaya Holdings, Inc. ("KAYS")
is a touch-the-plant vertically integrated legal cannabis company
operating a number of majority owned subsidiaries that retail,
cultivate, produce and distribute premium medical and
recreational cannabis products, including flower, concentrates,
oils and extracts, cannabis-infused foods and beverages, topicals
and cannaceuticals. KAYS is a fully reporting, US-based publicly
traded company, listed for trading on the OTCQB Tier of the
over-the counter market under the symbol OTCQB:KAYS.
KAYS
Cannabis operations are conducted under three main majority-owned
subsidiaries as further detailed below:
Marijuana Holdings Americas, Inc. owns the Kaya
Shack™ brand of licensed medical and recreational marijuana stores
(www.kayashack.com)
and the Kaya Farms™ brand of cannabis production and processing
operations that operate in the United States.
Kaya Brands USA, Inc. owns a wide range of
proprietary brands of cannabis extracts, oils, pre-rolls, topicals,
food and beverages, cannaceuticals and related
accessories.
Kaya Brands International, Inc., was founded to
serve as the vehicle for the Company’s non-U.S. operations
including retail franchising in Canada and cultivation activities
in Greece and Israel.
Marijuana Holdings Americas, Inc.- U.S. Cannabis
Operations
Kaya
Shack™ Retail Cannabis Stores
In 2014, KAYS became the first United States
publicly traded company to own and operate a Medical Marijuana
Dispensary. KAYS presently operates three Kaya Shack™ OLCC licensed
marijuana retail stores to service the legal medical and
recreational marijuana market in Oregon.
Kaya
Farms™
Eugene,
Oregon Indoor Grow, Processing & Cannaceutical
Facility: KAYS has developed its own proprietary Kaya Farms™
strains of cannabis, which it grows and produces (together with
edibles and other cannabis derivatives) at its 12,000 square foot
indoor grow and cannabis manufacturing facility in Eugene, Oregon,
capable of producing approximately 1,500 pounds of premium cannabis
annually, with the capacity for expansion. The Company also plans
to use the space for production of oils, concentrates, extracts,
edibles, and cannaceuticals. KAYS is currently conducting limited
operations at the facility pending approval transfer of the
production and processing licenses to KAYS by the Oregon Liquor
Control Commission (the "OLCC"),
the Oregon state regulating agency which regulates legal cannabis
production, processing and sale.
Lebanon,
Oregon Farm & Greenhouse
Facility: KAYS owns a 26-acre parcel in Lebanon, Linn County,
Oregon which it intends to construct a 85,000-square foot Kaya
Farms™ greenhouse cultivation and production facility. To date KAYS
has received Linn County Zoning approvals and upon issuance of OLCC
Licensing it will begin construction. The farm is intended for
immediate development and provides the Company with a potential
additional capacity of more than 100,000 pounds annually, to be
expanded once export from Oregon to other U.S. States and foreign
countries where cannabis use is legal is permitted. Kaya Farms™
operates in accordance with a Grow Operations manual, as well as
manuals for compliance, employment matters and
safety.
Kaya Brands USA, Inc.- Brand and Product
Development
The Company maintains a genetics library of over 30
strains of cannabis and owns a number of proprietary brands in
traditional and innovative cannabis categories including Kaya
Buddies™ pre-rolls, Really Happy Glass™ cannabis accessories, and
Kaya Gear™, company related and cannabis centric fashion. These
brands are currently available at Kaya Shack™
stores.
The Company has made advances in the development of
its Kumba Extracts™, Syzygy Extracts™, Pakalolo Juice
Company™ Soothe Topicals™, Tony Giggles
Pleasure Foods™ (frozen infused Italian entrees), Uptown Shaman™
(cannaceuticals), and Kaya Yums™ (chocolates, gummies, power bars)
brands. and Kaya
Yums™ brands of extracts, oils, vape cartridges, beverages and a
variety of edibles, respectively. Pending approval of our
production and processing license, KAYS intends to begin a
multi-state rollout planned in 2020 to the extent permitted by U.S.
legal infrastructure. These brands are intended for all Kaya Shack™
stores, both corporate owned and franchised.
Kaya Brands International, Inc.- Foreign Cannabis
Operations
After over five years of conducting "touch the
plant" U.S. cannabis operations inside the strict regulatory
confines of a public company, KAYS has formed a subsidiary, Kaya
Brands International, Inc. ("KBI")
to leverage its experience and expand into worldwide cannabis
markets. KBI's current operations and initiatives
include:
Canadian
Franchising: KAYS has targeted Canada for its first
international sale and operation of Kaya Shack™ cannabis store
franchises. KAYS has entered into an area representation agreement
with The Franchise Academy (a leading Canadian Franchise
Development and Sales Group) to implement the Kaya
Shack™ Retail Cannabis Store program in
Canada (the only G7 country that has legalized both medical and
recreational cannabis production, sale and use on a national
level). The agreement targets 75-100 Kaya Shack™ Cannabis Retail
locations throughout Canada through a multi-year structured
rollout, subject to licensing and market
conditions.
The Franchise Academy (http://www.franchiseacademy.ca)
and its founder Shawn Saraga, is a member and national sponsor of
the Canadian Franchise Association. With over 15 years of industry
experience and having successfully closed over 700 franchise
agreements and leases across Canada, the Franchise Academy has the
knowledge, expertise, network and dedication to assist select
franchisors enter the Canadian market.
Additionally, KAYS has retained Toronto, Canada
based law firm of Garfinkle Biderman, LLP to prepare the Franchise
Disclosure Documents and related items for the sale of Kaya Shack™
cannabis store franchises in Canada. We expect the franchise sale
and placement effort throughout Canada to progress over the next
3-24 months. KAYS plans to ultimately expand its franchise
operations to the U.S., as regulations and laws
permit.
Kaya
Kannabis- Kaya Farms™ Greece
KAYS has entered into a Memorandum of Understanding
("MOU")
setting forth an agreement in principle for KBI to acquire a 50%
ownership interest in Greekkannabis, PC ("GKC").
GKC is a recently formed Athens, Greece based cannabis company
which has applied for and is awaiting issuance of a medical
cannabis cultivation, processing and export license from the Greek
government.
The MOU sets forth an agreement in principle,
pursuant to which in consideration for KBI providing the necessary
expertise related to cannabis cultivation, processing, brand
development and other matters, KBI will have the right to acquire a
50% ownership interest in GKC by reimbursing GKC for 50% of its
license application costs (with allowances for KBI's expenses as
well). Consummation of the transaction contemplated by the MOU is
subject to, among other customary conditions, satisfactory
completion by KBI of its due diligence review of GKC, the drafting,
execution and delivery of definitive transaction documentation and
final license approval and issuance by the Greek
government.
GKC plans to establish its cannabis cultivation and
processing facility on land already identified outside of Athens.
Project management envisages 3 stages of development, each
comprised of 125,000 square feet of light-deprivation greenhouse
cultivation. Each phase is expected to produce 93,600 pounds of
premium medical cannabis, for an anticipated total project capacity
of not less than 280,0000 pounds annually for distribution
throughout Europe and other select markets.
KAYS and KBI are represented in Greece by the
Athens based law firm of Dalakos Fassolis Theofanopoulos
(https://dftlaw.gr/).
The firm has developed a long-established and well-respected
commercial legal practice and has developed a wide international
network of correspondent relationships with overseas law offices
throughout the world.
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. 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
SOURCE: Kaya Holdings,
Inc.
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