Nugl Inc - NUGL STOCK NEWS

NUGL: Kaya Group and Silo Wellness Inc. Announce Strategic Partnership for Psychedelic Wellness Retreats in Jamaica. Silo Wellness acquires 25,081,369 shares of NUGL in exchange for 15,293,640 shares of Class A common stock. The partnership aims to enhance retreat experiences and market presence, tapping into the multibillion-dollar psychedelic wellness industry. With the global market projected to reach $5.7 billion by 2027, the collaboration signifies significant growth potential for both companies.

Kaya Group (OTC: NUGL) has announced a series of wellness events in Jamaica aimed at enhancing brand awareness and driving revenue growth. These events include a full-moon cycling event on March 8, a sunset Herbtails and Coffee festival afterparty on March 25, and a wellness celebration featuring yoga and live music on April 6. Additionally, Kaya will participate in the Scarce Festival Cannabis Cup on April 20. Jamaica's tourism sector is rebounding post-pandemic, with expected revenues of $4.2 billion for the fiscal year. Kaya aims to capitalize on this trend with its unique offerings, including psilocybin mushrooms and fine coffee.

Kaya Group (OTC: NUGL) has announced plans to expand its profitable operations in Jamaica, focusing on cannabis, hospitality, and psychedelic offerings. The company has seen a 15% year-over-year sales growth, with medicinal cannabis sales driving this increase. By optimizing its resources and through licensing opportunities, Kaya aims to strengthen its brand and enhance operational synergies. The company reported a 12.5% increase in membership and a 75% increase in foot traffic from Q3 to Q4 2022. Kaya's strategic focus on its Jamaican roots aims to improve margins and establish a strong market presence moving forward.

Kaya Group (OTC: NUGL) has announced its role as a sponsor of the 2023 Rebel Salute Festival, taking place on January 20-21 at Grizzly's Plantation Cove, Jamaica. This festival, which expects 40,000 attendees, emphasizes the cultural significance of ganja and reggae music. Kaya aims to educate the public on cannabis-related matters through the Herb Curb, an initiative launched by the Jamaican government. The event will feature over 60 reggae artists and showcases Kaya's commitment to promoting Rastafarian culture. The company continues to expand its operations in Jamaica, with multiple herb houses and wellness centers.

Kaya Group (OTC: NUGL) is entering the burgeoning legal psilocybin market in Jamaica, targeting a potential multibillion-dollar industry. The company's Kaya Extracts subsidiary aims to develop and distribute psilocybin mushrooms and capsules at its Herbhouse locations. This follows Jamaica's relaxed regulations on psilocybin, with local demand growing. The country sees prospects in cultivation and treatment facilities, with an estimated $8 billion global market by 2028. Kaya is committed to high-quality, responsibly sourced products to address mental health conditions.

Kaya Group has restored the iconic Gap Café in Jamaica's Blue Mountains, enhancing its profile as a wellness center. Following its soft opening, guests enjoyed food and live music, marking a significant upgrade in service with high-speed internet from Starlink. The café’s offerings include traditional Jamaican cuisine and premium Blue Mountain coffee. Future plans involve expanding retail space and accommodations, aiming for a full weekend schedule by Spring 2023. CEO Bali Vaswani emphasized the café's cultural significance and its alignment with Kaya's holistic principles.