Kaya Holdings Inc. (KAYS)

[abracky]

Kaya Holdings, Inc’s Majority-Owned Subsidiary Kaya Brands International, Inc
Exercises Option to Acquire
50% of Athens-based Greekkannabis, S.A
 
Ft. Lauderdale, Fl., January 13, 2021 - Kaya Holdings, Inc., (“KAYS” or the “Company”) (OTCQB.KAYSD), the first U.S. publicly traded company to vertically integrate cannabis retail, cultivation and processing, announced today that its majority-owned subsidiary, Kaya Brands International, Inc. (“KBI”), has exercised its option to acquire a 50% Interest in Athens, Greece based Greekkannabis, SA (“GKC”).
 
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Greece, along with its neighbor Israel are positioned to become
the Silicon Valley for Medical Cannabis
 
KBI acquired a 25% interest in GKC through a share transfer agreement with existing shareholders of GKC, which was consummated at close of business on Monday, January 11, 2021.  The remaining 25% interest is in process of being issued to KBI for a minor amount of paid in capital in recognition of KAYS and KBI’s contributions to the project. The acquisition of the 50% interest in GKC is the cornerstone of KAYS’ planned Kaya Kannabis project, announced in late 2019 with the objective of establishing a beachhead to enter the lucrative global medical cannabis market from Greece, a member of the European Union.
 
GKC is an Athens, Greece based cannabis company that has been granted a license for the construction of a facility encompassing approximately 225,000 square feet of cannabis cultivation and 80,000 square feet of cannabis processing on 15 acres of land in Thebes, Greece.
 
We believe that GKC has the ability to generate significant revenues and pre-tax income over the next five years, subject to obtaining successful financing, completing construction and obtaining final required licensing. Through its ownership in GKC, the Company expects to grow, process and export medical grade cannabis from the planned Kaya Kannabis facility in Greece to the European Union and other international medical cannabis markets.
 
“GKC and KAYS/ have been collaborating since January 2019,” stated Panos Kinnis, GKC’s Vice President and Managing Director. “We approached KAYS because we were seeking a partnership with a cannabis company that would provide us with experience, know-how and industry depth. We discovered that KAYS had all the requisite advantages we were seeking without the complexities that came with some of the larger Canadian, Israeli and U.S. firms.”
 
“Our expectations in working with the KAYS team have been met and exceeded and we are eager to continue jointly advancing our project,” continued Ilias Kammenos, GKC’s President and Chairman. “We are very pleased and proud to partner with the KAYS family, as after much consideration we see KAYS as the ideal partner to take GKC to the next level through the Kaya Kannabis Project.”
 
“Our involvement with the Greek project has been propelled by our honorable and abled Greek partners, who are uniquely positioned to advance the project in Greece, and with whom we have worked cooperatively to develop a large-scale, dynamic and viable medical cannabis cultivation and processing project – propelling KAYS into the major leagues and establishing a new, vibrant player in the European and global cannabis markets” concluded Craig Frank, KAYS’ CEO and Chairman. “We invite shareholders and interested parties to participate in our previously announced online Stockholder Business Update  on Thursday, January 14, at 2:00 pm, EST for further information.”
 
 
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ZOOM CALL DETAILS
 
 
 
Online Stockholder Business Update topics will include the acquisition of the 50% interest in GKC and the positive, post-election outlook for US Cannabis and Global Cannabis Industry. The call is expected to last approximately 30 minutes and includes a Q and A session with management.
 
Participation is limited so please register now using the following link to reserve your place for the program:
 
https://us02web.zoom.us/webinar/register/WN_DaKYagIKTaCnscoI6PtwYQ
 
After registering, you will receive a confirmation email containing information about joining the webinar. If you do not receive a confirmation email, please contact us via email at [e-mail] and we will assist you.
 
For those not able to attend a link to access a video of the meeting will be emailed to shareholders and also posted on the OTC Markets page for KAYSD.