KAYS Greek Joint Venture
Engages European Investment Bank to Raise up to $45 Million for Planned 15-acre Cannabis Cultivation & Processing Facility in Thebes, Greece
Ft. Lauderdale, Fl., February 1, 2021 - Kaya Holdings, Inc., (“KAYS” or the “Company”) (OTCQB.KAYS), the first U.S. publicly traded company to vertically integrate cannabis retail, cultivation and processing, announced today that its Greek joint venture Kaya Kannabis has engaged Dutch based Orange Ridge Capital to raise up to $45 million for its planned 15-acre cannabis cultivation and processing facility in Thebes, Greece.
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The Kaya Kannabis Greece Facility (designer rendering), together with
Kaya Farms Israel are configured to produce approximately 600,000 pounds
of GMP Certified, Premium, Medical-Grade Cannabis annually for potential export
to the European Union and elsewhere (after obtaining successful financing, completing construction and obtaining final requisite licensing).
The facility has already received its Installation License from the Greek Government allowing for commencement of construction, and recently named Athens based Whitestone MCI as Engineers to develop up to 270,000 sq. ft. of greenhouses and an 80,000 sq. ft. extraction and processing facilities. KAYS believes that the project has the potential to generate significant revenue over the next five years, subject to obtaining successful financing, completing construction and obtaining final required licensing.
