Kaya Holdings Inc (OTCMKTS: KAYS) Acquires 50% of Medical Cannabis Project in Epidaurus, Greece
Published
9 seconds ago
on
January 17, 2022
By
Ward Sport
Kaya Holdings, Inc (OTCMKTS: KAYS) recently announced that its majority-owned subsidiary Kaya Farms Greece has agreed with the Medical Cannabis Project in Epidaurus, Greece (“Greek Kaya”) to acquire 50% of the company.
Kaya Holdings Inc is the first U.S. publicly traded company to own and operate cannabis licenses in all “touch the plant” categories. In addition, this move marks Kaya Holding’s second cannabis venture in the EU nations.
Details of the new site
The new site consists of two connected industrial buildings on 2.8 acres of land. In addition, it has its own independent industrial electrical power center that supplies ample water required to the facility.
The Greek Kaya Project includes 25,000 SF of indoor cannabis cultivation, a 15,000 square foot EU-GMP extraction and processing facility, and a 10,000 square foot EU-GMP packing area. The site also has ample room for expansion to construct an extra 15,000 square feet.
The project is smaller in size than Thebes, Greece, another of the Company’s projects, aids it to fast track cultivation and processing of its proprietary branded cannabis products. The projects also distribute its products in legal European Union markets as they await enormous legal cannabis demand to emerge before developing a large-scale capacity in Thebes.
The company will leverage its international relationships
Craig Frank, Kaya’s CEO, recently stated that the Company anticipates that this year will be a good one. Its efforts to benefit the European cannabis market have started coming to fruition. He added that the Company strengthened its international relationships substantially in 2021, and it now possesses the network to make bold steps that claim the company’s stake in the global cannabis sector.
The company intends to develop and cultivate proprietary cannabis brands and distribute them in Greece and other EU markets as authorized by local regulations. The joint venture is awaiting project financing and final license approval from Greek government authorities.
Kaya Holdings, Inc. is an industry veteran that vertically integrated the legal cannabis organizations operating several majority-owned subsidiaries that cultivate, develop and distribute premium medical and recreational cannabis products. The Company develops cannabis products such as oils and extracts, cannabis-infused foods and beverages.
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
RELATED TOPICS:KAYA HOLDINGS INC. (OTCMKTS:KAYS)KAYSKAYS NEWSKAYS STOCKOTCMKTS:KAYS
