PORTLAND, Ore., Oct. 20, 2015 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (OTCQB:KAYS), announced today that it has opened its second Kaya Shack™ marijuana retail location (a Marijuana Superstore) in Salem, Oregon. The 2100 square foot facility opened its doors with a wide selection of flower for all recreational marijuana consumers and a broad selection of concentrates and edibles for the medical marijuana market.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/15be2008-b623-405b-8eb6-2787b30ce5b8
http://www.globenewswire.com/NewsRoom/AttachmentNg/d369acec-9e03-490b-807e-64634ab9e0f5
Additionally, the company reported that recreational sales launched October 1st at its flagship store in Portland, Oregon have resulted in a substantial increase in new customers, volume of transactions and total sales revenues. The Company expects to release preliminary sales numbers and an initial analysis of the data in its upcoming quarterly report due in November.
“We are very excited by the initial market acceptance to our new Salem location and are confident that as we introduce various innovations, including the Kaya Café Juice Bar™ (featuring THC and CBD enhanced juices and beverages) and the Kaya Clone Room™ (supplying marijuana plants and home cultivation accessories), we will distinguish ourselves as the go-to marijuana source for medical patients and recreational consumers in Oregon,” stated Craig Frank, CEO of Kaya Holdings. “This new store further advances our business plan and demonstrates our commitment and dedication to execution and the creation of assets and value for the Company.”
“The new law allowing recreational marijuana sales to adults 21 years of age and older has given us and the entire industry in Oregon the opportunity to serve a broader customer base and establish stable and potentially profitable operations,” continued Frank. “According to numerous sources (CNN Money, Time, the Oregon Retailers of Cannabis Association and others), first week recreational marijuana sales in Oregon generated millions in sales. Even though only limited recreational sales are permitted at this time (only 7 grams of flower per customer per day), the prospect for additional volume is expected as concentrates or edibles are permitted for recreational sales once the state defines its regulations and begins accepting new retail license applications after January 4th. These developments validate our decision to choose Oregon as the launch site for our nationwide our operations. It is the perfect place to develop the Kaya Shack™ brand.”
In a related announcement, KAYS is also pleased to confirm that it continues to expand its 6,000 square foot Kaya Farms Grow Operations in Portland, Oregon. “We continue to incorporate advanced technologies and growing techniques to improve yield and maintain our high quality standards,” remarked Craig Frank, CEO. “The Grow continues to provide us with the product stability, variety and quality we seek to feed the Kaya Shack Supply Chain as we continue to expand our retail footprint."
To see some raw footage of actual Kaya Farms Grow Operations please click here:
https://video.nest.com/clip/c57a32050e6d4fc2a74d1928f8e7aed6.mp4
We invite interested investors to register at www.kayaholdings.com for news updates and our shareholder newsletter or contact Investor Relations: 561-210-7664
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.
As of the date of this release, KAYS has two operating Kaya Shack™ marijuana dispensaries (the Kaya Shack™ in Portland, Oregon and the Kaya Shack Marijuana Superstore™ in Salem, Oregon), and the Kaya Farms Marijuana Manufacturing Facility in Portland, Oregon.
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.
The photo is also available via AP PhotoExpress.