Cannabis Company Kaya Holdings, Inc Acquires 50% of 2nd Medical Cannabis Project in Epidaurus, Greece
Kaya Holdings (OTCQB:KAYS) announced the acquisition of a 50% stake in the Greek Kaya Project, a medical cannabis facility in Epidaurus, Greece, enhancing its footprint in the EU market.
The project features 50,000 square feet of space, including 25,000 square feet for cultivation, a 15,000 square foot EU-GMP extraction facility, and a 10,000 square foot packing area. The facility aims to fast-track KAYS' cannabis products for distribution in various EU markets, awaiting final licensing and project financing.
- Acquisition of 50% of the Greek Kaya Project enhances KAYS' position in the EU cannabis market.
- Facility includes 50,000 square feet for cultivation and processing, facilitating efficient product rollout.
- Strategic location allows fast-tracking of sales for KAYS proprietary cannabis brands in multiple EU markets.
- Dependence on final license approval from Greek authorities could delay operations.
- Project financing is yet to be secured, potentially impacting ramp-up of operations.
The Epidaurus, Greece EU-GMP Cannabis Cultivation and Manufacturing Facility is expected to open the EU Market to KAYS' branded cannabis products.
FT. LAUDERDALE, FL / ACCESSWIRE / January 11, 2022 / Kaya Holdings, Inc., ("KAYS" or the "Company") (OTCQB:KAYS), the first U.S. publicly traded company to hold and operate cannabis licenses in all "touch the plant" categories, announced today that its majority owned subsidiary Kaya Farms Greece has executed an agreement to acquire
KAYS' newest project with 50K square feet of already constructed buildings is designed to fast-track sales of KAYS proprietary branded cannabis products to the EU.
The Epidaurus site consists of 2 connected industrial buildings (approximately 50,000 square feet in total under-air space) situated on 2.8 acres of land, with its own independent industrial electrical power center and ample water supply to service the needs of the facility. The Greek Kaya Project will include 25,000 square feet of indoor cannabis cultivation, a 15,000 square foot EU-GMP extraction and processing facility, and a 10,000 square foot EU-GMP packing area. There is ample room for expansion with room to construct an additional 15,000 square feet on site.
Greek Kaya plans to cultivate and manufacture KAYS proprietary cannabis brands (CBD/THC) for distribution in the Greek, German and other EU markets as permitted by local regulations. The joint venture is awaiting project financing and final license approval from Greek government authorities.
The Epidaurus project is smaller in scale than the Company's 15-acre project in Thebes, Greece, allowing KAYS to fast track cultivation and processing of its proprietary branded cannabis products for distribution in legal EU markets while awaiting greater legal cannabis demand to emerge prior to developing a large-scale capacity in Thebes.
"We expect that 2022 will be a breakthrough year for us as our efforts to gain a foothold in the European cannabis market begin to come to fruition," remarked KAYS' CEO Craig Frank. "We have strengthened our international ties substantially in 2021 and now have the network to undertake bold steps to claim our stake in a global cannabis sector still in its infancy".
About Kaya Holdings, Inc. (www.kayaholdings.com)
Kaya Holdings, Inc. (OTCQB:KAYS) is an industry veteran, 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.
Summary of Operations
KAYS corporate structure includes the following three majority-owned subsidiaries, each responding to various demands and opportunities in the cannabis industry:
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 two Kaya Shack™ OLCC licensed marijuana retail stores to service the legal medical and recreational marijuana market in Oregon.
Kaya Farms™
Lebanon, Oregon Farm & Greenhouse Facility: KAYS owns a 26-acre parcel in Lebanon, Linn County, Oregon. KAYS has received Linn County Zoning approvals and is awaiting final OLCC inspection and license approval. The Company expects to commence operations in April 2022.
Kaya Brands USA, Inc.- Brand and Product Development
The Company maintains a genetics library of over 150 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. Brands the Company plans to introduce in 2022 include Pakalolo Juice Company™, Tony Giggles Pleasure Foods™, Wooz Chews™, Syzygy Extracts™, Sesh Sticks™, Soothe Topicals™, and Cannamo Pet Treats™, Urban Shaman™ and Aglaea Pharma™.
Kaya Brands International, Inc.- Foreign Cannabis Operations
After over six 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:
Kaya Kannabis- Kaya Farms™ Greece S.A. ("Kaya Farms Greece," a Greek Corporation) is a majority owned subsidiary of KBI. Kaya Farms Greece currently has two medical cannabis cultivation and processing projects in Greece- "Greekkannabis" in Thebes and "Greek Kaya" in Epidaurus.
Greekkannabis has a development license from the Greek authorities and a purchase option on 15 acres in Thebes, Greece. The farm has large-scale cultivation capacities and the company expects to develop the site once legal cannabis demand warrants an increase in capacity.
Greek Kaya is situated on 2.8 acres of land in Epidaurus, Greece. The project is in the final stages of receiving its development license from the Greek Authorities and is in process of securing a purchase agreement to acquire the property. The Epidaurus Project will include 25,000 square feet of indoor cannabis cultivation, a 15,000 square foot EU-GMP extraction and cultivation facility, and a 10,000 square foot EU-GMP packing facility, housed in two top-condition connected structures totaling more than 50,000 square feet of under-air space. There is ample room for expansion with room to construct an additional 15,000 square feet on site.
Kaya Farms™ Israel- Kaya Shalvah LTD ("Kaya Farms Israel," an Israeli Corporation) is a majority owned subsidiary of KBI. Kaya Farms Israel has been awarded its cannabis cultivation development license from the Office of Medical Cannabis at the Israeli Ministry of Health ("YAKAR"). The Company is currently evaluating a number of opportunities in Israel and expects to be announcing its plans by Q2 2022.
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 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: info@kayaholdings.com or 561-210-7664
SOURCE: Kaya Holdings Inc
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FAQ
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