Cannabis Company Kaya Holdings’ Israeli Subsidiary Receives Initial Approval for Cannabis Cultivation and Processing License
Kaya Holdings, Inc. (KAYS) announced that its Israeli subsidiary, Kaya Shalvah, has received an initial permit from Israel's Ministry of Health for cannabis cultivation and processing. This approval allows KAYS to develop a facility in the Green Negev cannabis complex, crucial for its international expansion strategy aimed at tapping into the growing medical cannabis market in the European Union, projected to exceed $146 billion by 2028. The company anticipates producing approximately 600,000 pounds of GMP-certified cannabis annually, facilitating potential exports.
- Initial permit received to develop cannabis facility in Green Negev, Israel.
- Projected annual production of 600,000 pounds of GMP-certified cannabis.
- Entry into a market with a forecasted demand of $146 billion in the EU by 2028.
- None.
Approval Sets Stage for Development of Kaya Farms Israel Facility at Green Negev, Israel's "Silicon Valley" of Medical Cannabis
FT. LAUDERDALE, FL / ACCESSWIRE / March 30, 2021 / Kaya Holdings, Inc., ("KAYS" or the "Company") (OTCQB.KAYS), the first U.S. publicly traded company to vertically integrate cannabis retail, cultivation and processing, announced today that its Israeli subsidiary, Kaya Shalvah (Kaya Farms Israel) has been awarded its initial permit from the "YAKAR", the Department for Medical Cannabis in the Israeli Ministry of Health, to develop an Israeli cannabis cultivation and processing facility.
Kaya Shalvah (Kaya Farms Israel) Medical Cannabis Production Facility,
Green Negev Cannabis Complex, Yerucham, Israel (Project Design Rendering).
This initial permit grants the Company permission to proceed with its plans to develop commercial scale cannabis cultivation and processing site at the Green Negev cannabis complex in Yerucham, Israel, pending a tender for the land. Once the Company develops the site in accordance with all Israeli regulations, and meets all requisite standards), the final cultivation and processing licenses are issued.
"Israel has long been a center of cannabis research, pioneered by Hebrew University Professor Dr. Raphael Mechoulam, who jumpstarted the medical cannabis revolution with his breakthrough discovery of tetrahydrocannabinol (THC)," stated KAYS' CEO Craig Frank, "and we have already met extraordinary entrepreneurs with whom we hope to cooperate. Israel offers an attractive market, access to additional markets and close proximity to an excellent knowledge base and cutting-edge technologies, which will aid us as we execute our international growth plan. With this important piece of our puzzle in place we can pursue the remaining elements of our strategy including footholds in other important emerging markets".
"Getting this formal permission to commence development of our planned facility in Yerucham again demonstrates our progress in seeking to establish KAYS as an effective competitor in the international cannabis market," continued Frank. "It is our expectation that eventually the market will recognize the promising opportunities we have lined up and our steady execution. We strive to have our value better reflect our potential".
Kaya Shalvah plans to construct its Israel facility in accordance with Israeli standards, including IMC-GAP (Israel Medical Cannabis-Good Agricultural Practices) for cultivation, IMC-GMP (Israel Medical Cannabis-Good Manufacturing Practices) for production, IMC-GSP (Israel Medical Cannabis-Good Security Practices) for security, and IMC-GDP (Israel Medical Cannabis-Good Distribution Practices). Kaya Holdings' interests in the Israeli registered company Kaya Shalvah is controlled through a majority owned subsidiary, Kaya Brands International, Inc.
Earlier this year, KAYS Greek subsidiary Kaya Farms Greece exercised an option to acquire a
These two facilities, as currently envisioned are planned to produce approximately 600,000 pounds of GMP Certified, Premium Medical Grade, Cannabis annually for potential export to the European Union and elsewhere.
Kaya Holdings Research Report- International Cannabis Company Kaya Holdings (OTCQB:KAYS) Receives Buy Rating, Fair Value Estimate of
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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 and is in the process of relocating a third retail cannabis license to serve as a delivery hub for the Eugene and Southern Oregon Cannabis Market.
Kaya Farms™
Eugene, Oregon Indoor Grow, Processing & Cannaceutical Facility: The Company owns a 12,000 square foot Kaya Farms™ indoor grow and manufacturing facility in Eugene, Oregon, which serves as the Company's center for cultivation trials, method experiments, genetic research and cannabis infused product development. The Company is presently conducting limited operations at this location under a Management Agreement with Sunstone Farms, the current licensee. Pending the successful acquisition and transfer of other existing OLCC Marijuana Production and Processing licenses, KAYS intends to build out the facility and ramp up to full production.
Lebanon, Oregon Farm & Greenhouse Facility: KAYS owns a 26-acre parcel in Lebanon, Linn County, Oregon which it intends to construct an 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. 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 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. The Company has just exercised its option (pursuant to terms of a previously disclosed 8-K filing) for Kaya Farms Greece to acquire a
Kaya Farms™ Israel- Kaya Shalvah LTD ("Kaya Farms Israel," an Israeli Corporation) is a majority owned subsidiary of KBI. Kaya Farms Israel is in the process of applying to various Israeli Government Agencies for a license to grow, process and export medical grade cannabis from Israel. Upon submission of the initial application to the Israeli Cannabis Authority, Kaya Shalvah intends to submit a bid to acquire 100 Dunams (approximately 25 acres) of land in Israel that is part of Greenegev, an Israeli Government backed Cannabinoid Ecosystem in Yerucham, Israel that is envisioned to become the Silicon Valley of Medical Cannabis Production and Research.
These two facilities, as currently envisioned (and after obtaining successful financing, completing construction and obtaining final requisite licensing), are configured to produce approximately 600,000 pounds of GMP Certified, Premium Medical Grade, Cannabis annually for potential export to the European Union and elsewhere.
Canadian Franchising: KAYS has targeted Canada (the only G7 country that has legalized both medical and recreational cannabis production, sale and use on a national level) for its first international sale and operation of Kaya Shack™ cannabis store franchises, with a goal of 75-100 Kaya Shack™ Cannabis Retail locations throughout Canada through a multi-year structured rollout, subject to licensing and market conditions. 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. KAYS plans to ultimately expand its franchise operations to the U.S., as regulations and laws permit.
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
What is the significance of the permit received by Kaya Holdings (KAYS)?
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When was the permit for the Israeli facility granted to KAYS?
