Postponement Due to Focus on Negotiations for Potential Further Expansion of Company’s Cultivation Capacity; New Date to be Announced
FORT LAUDERDALE, Fla., Dec. 13, 2018 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (KAYS) announced today that it is postponing its annual shareholder webinar and conference call, originally scheduled for Tuesday, December 18, 2018, until after the New Year to allow for the completion of negotiations for potential further expansion of the Company’s current cultivation canopy.
“We regret postponing the meeting and thank the very many people who signed up. We would not take such action unless it was both unavoidable and worthwhile. We have been exposed to a time sensitive opportunity to potentially expand our current cultivation canopy that requires the full and immediate attention of management. For this reason, and because we seek to provide the best presentation of the Company’s status and plans, we have elected to postpone the previously announced shareholder webinar and conference call.”
The Company will announce the new date promptly after the first of the year and anticipates that it will endeavor to hold the shareholder webinar and conference call during the first two weeks of January 2019.
The Company apologizes for any inconvenience this change may cause.
About Kaya Holdings, Inc. (www.kayaholdings.com) and the Kaya Shack™ brand (www.kayashack.com) of licensed medical and recreational marijuana stores.
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. Since that time KAYS has expanded and 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, in late 2017 KAYS acquired a 26-acre parcel in Lebanon, Oregon which it has targeted for development of the Kaya Farms™ Marijuana Grow Complex, and has completed the recent purchase of the Eugene, Oregon based Sunstone Farm Facility which holds OLCC (Oregon Liquor Control Commission) Licenses for both the production (growing) and processing of medical and recreational marijuana flower and cannabis concentrates/extracts/edibles.
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 (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