2nd Medical Marijuana Dispensary License Filed By Kaya Holdings (KAYS); Company To Fast-Track "Kaya Shack™ Marijuana Superstore"
Launch To Coincide With Potential Early Recreational Sales
PORTLAND, Ore., June 3, 2015 /PRNewswire/ -- Kaya Holdings, Inc. (OTCQB: KAYS), the first fully reporting U.S. public company to own and operate a vertically integrated medical marijuana dispensary ("MMD") and medical marijuana grow operation ("Grow") in the United States, confirmed today that it has filed an application for an additional license to open its second Kaya Shack™ MMD in Oregon. The Company believes that its planned Kaya Shack™ Marijuana Superstore would support revenue-enhancing opportunities currently under development by the Company as well as those under consideration by the Oregon legislature, including potential early recreational sales by existing MMDs as early as early Fall 2015.
"Targeted to be open in 90 days or less to take advantage of potential early recreational sales currently under consideration by the Oregon Legislature, this location is to be launched as a Kaya Shack™ Marijuana Superstore," stated Craig Frank, CEO of Kaya Holdings. "The first class space, with a footprint roughly three times the size of our first Kaya Shack™ MMD in Portland, was carefully chosen with an eye towards multiple usages to both enhance revenues and broaden branding opportunities. The design would also allow for both recreational and medical marijuana sales at the same location (subject to State and Local Approval), as well as a major profiling of certain proprietary Kaya Farms Grow products currently under development."
"This next location is part of our announced growth plan and highlights our commitment to execute our business plan in a disciplined and calculated manner," continued CEO Craig Frank. "We are building the first truly vertically integrated legal marijuana enterprise in the United States."
Kaya Shack™ features more than 30 popular strains of marijuana, a wide selection of concentrates and oils, a variety of creams and lotions, and a broad assortment of infused cookies, candies and cakes.
More about the new Kaya Shack™ Marijuana Superstore, potential early recreational sales through Oregon MMDs and a general discussion on KAYS is scheduled on the Cannabis Investor Webcast on Thursday, June 4, 2015 at 1:00 PM EDT. Shareholders and investors who would like to attend the free online webcast should go to www.cannawebcast.com to register for the webcast, and www.kayaholdings.com to register for news and updates on Kaya Holdings and to view pictures of our operations.
About Kaya Holdings, Inc. (KAYS)
KAYS (OTCQB: KAYS) through its subsidiary, Marijuana Holdings Americas, Inc. ("MJAI"),owns and operates Kaya Shack™ - the first legal marijuana dispensary by a fully reporting U.S. public company. Through its Kaya Farms Grow operations, 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.
The Oregon Legislature is currently considering various initiatives that would allow for recreational sales to begin as early as July through October of this year. Additionally, the Oregon Liquor Control Board is also reviewing plans that would allow the first recreational marijuana sales licenses to be awarded to existing medical marijuana dispensaries as part of a phased rollout of Proposition 91. However, shareholders and potential investors should be cautioned there is no certainty that either of these events will take place, or if one or both were to occur, that KAYS would be able to allowed to participate in them, or if allowed to participate, that it would be economically beneficially to the Company.
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 visit www.kayaholdings.com or contact Investor Relations: 561-210-7664
SOURCE Kaya Holdings, Inc.
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