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PORTLAND, Ore., March 12, 2019 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (OTCQB: KAYS) announced today that it has retained the law offices of Garfinkle Biderman LLP of Toronto to marshal an agreement to franchise its Kaya Shack™ brand of cannabis dispensaries in Canada. The Company is currently in the final stages of talks with a leading Ontario based franchise-consulting group to lead the sales effort, and expects to enter into an area representative agreement calling for a multi-year structured rollout of up to 75 Kaya Shack™ Retail Marijuana locations throughout Canada, subject to market conditions.
“We have always viewed our activities in Oregon as our learning ground, allowing us the opportunity to develop our business and operational models in one of the more competitive and dynamic cannabis markets. To paraphrase a famous phrase, we figure if we can make it in Oregon we can make it anywhere,” commented Craig Frank, Kaya Holdings’ CEO. “We have learned quite a bit in our nearly 5 years of operations and we have the structure (manuals, training, etc.), the operational methodologies, and a joyful, feel good concept that is well suited for Canada. We look forward to serving the Canadian market, and utilizing the experience to perfect our franchise infrastructure so we can consider it as a basis for growth in the United States, should regulations permit.”
About Kaya Holdings, Inc. (
) and the Kaya Shack™ brand (
) of licensed medical and recreational marijuana stores.
KAYS (OTCQB: 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