FORT LAUDERDALE, Fla., Feb. 06, 2019 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (KAYS) has launched a subsidiary called Kaya Worldwide to explore a number of international opportunities for the expansion of Kaya Medical and Recreational Cannabis Operations. The Company also issued an update on its U.S. operations and the scheduling of KAYS’ Annual Shareholder Video and Conference call.
Kaya Worldwide Subsidiary
The Company has formed a new subsidiary, Kaya Worldwide, to explore and secure opportunities that have been presented to KAYS to serve markets outside of North America, including the European Union, Asia, and Africa.
“To date we have engaged foreign counsel and allocated manpower and resources to potentially secure participation in large-scale, cultivation-for-export opportunities in 2 separate countries,” commented Craig Frank, CEO of Kaya Holdings. “We are exploring financing opportunities to fund these projects, and believe that the experience we have gathered in our five years of compliant operations provides us with the knowledge and track record to implement ambitious overseas projects of this magnitude. We promised an era of growth, and this new direction is part of our reinvigorated, reenergized effort.”
KAYS U.S. Cannabis Operations Summary
In Oregon, KAYS presently has 4 operating OLCC licensed retail locations (Kaya Shacks™) that each hold medical, recreational and delivery licenses for the sale of cannabis. The Company operates a 12K square foot warehouse facility that is licensed for both growing and processing that we are operating pursuant to a management agreement while we await license transfer review. Our 26 acre farm just got zoning approval to construct the 80K+ square feet of indoor/outdoor growing facilities is now actively undergoing OLCC Licensing review.
“Oregon has “paused” the acceptance of new license applications, but the law allows the existing licenses to be sold and/or moved from one physical location to another,” continued Frank. “We are presently evaluating how best to utilize these assets to form a network that will not only maximize our penetration of the Oregon Cannabis market but serve as the backbone to grow our U.S. Operations across state lines through the rollout of proprietary brands.”
Annual Shareholder Video and Conference Call
In December we announced that we had to postpone the Annual Shareholder and Webinar Conference Call until after the New Year. We apologize for the delay and will hold the event to coincide with the Annual Report that is currently in process of completion. Please make sure you are on our email list at www.kayaholdings.com and we will keep you posted.
About Kaya Holdings, Inc. (www.kayaholdings.com)
KAYS (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. KAYS 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, KAYS recently acquired a 26-acre parcel, which it has targeted for development of the Kaya Farms™ Marijuana Grow Complex.
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