LEBANON, Ore., Sept. 19, 2017 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (OTCQB:KAYS), announced today that it has completed the purchase of 26 acres of prime farmland in Lebanon, Oregon. The Company plans to develop the property to house the maximum canopy permitted by law for its legal medical and recreational marijuana farming operations, as well as construct facilities for the manufacture and packaging of Kaya owned brands of concentrates and oils, edibles, and creams to be sold through Kaya Shack™ stores and, subsequently through wholesalers to other retailers.
“On March 21st we announced that we had retained a realtor for the purpose of identifying a suitable tract of land for KAYS to expand our Legal Medical and Recreational Marijuana Grow and Manufacturing Operations. After several months of reviewing dozens of properties we are very pleased to announce that we have completed our purchase and have taken possession of the property,” reports Kaya Holdings CEO Craig Frank. “We will be developing the land to reach its maximum potential, including a mix of indoor and greenhouse cultivation, development of marijuana processing facilities and other cannabis related enterprises as legally permitted.”
KAYS presently operates three Kaya Shack™ OLCC licensed marijuana retail stores to service the legal medical and recreational marijuana market in Oregon, with store number four currently under construction and expected to open within Q-4 of 2017. The Company is estimating that once the grow side of the operation is operating at full capacity the facility will yield in excess of 4,500 pounds of marijuana annually to feed the Kaya Shack Supply Chain, providing the Company with secured access to more than 200 strains of the highest quality marijuana at costs substantially lower than would otherwise be available. Additionally, the Company expects to aggressively brand and market its own strain specific oils and concentrates, a wide variety of cannabis infused foods, and infused creams and lotions.
About Kaya Holdings, Inc. (www.kayaholdings.com)
KAYS (OTCQB:KAYS) through its subsidiary, Marijuana Holdings Americas, Inc. owns and operates the first legal marijuana dispensary by a U.S. publicly traded company – Kaya Shack™ (www.kayashack.com). KAYS creates and establishes it own brands that produce, distribute and/or sell premium cannabis products, including flower, concentrates, and cannabis-infused baked goods and candies.
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 Cole Memo dated August 29, 2013), and plan to proceed cautiously with respect to legal and compliance issues. Potential investors and shareholders are cautioned that AFAI 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 and MJAI, 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
Source: Kaya Holdings