3RD AND 4TH MARIJUANA DISPENSARY LOCATIONS TO COMPLETE COVERAGE IN LUCRATIVE SALEM, OREGON MARKET
10-K SHOWS Q-4 2015 REVENUES UP 700% SINCE BEGINNING OF RECREATIONAL MARIJUANA SALES
FT. LAUDERDALE, Fla., May 17, 2016 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (OTCQB:KAYS), confirmed today that it has concluded lease agreements and filed license applications for its next two Kaya Shack™ Marijuana Superstores, which when fully licensed and open will bring the total to four retail marijuana locations operating under the Kaya Shack™ brand.
Store #3 is located in North Salem, Oregon, adjacent to a Starbucks Coffee and Store #4 is to be located in Central Salem, Oregon, near a Popeye’s Chicken and other nationally recognized fast-food and retail brands. Both of these new locations are being developed using the attractive “Marijuana Superstore” footprint, which allows for increased revenue opportunities.
“We are pleased to have resolved the issues surrounding the 3rd store lease and are anxious to get that store built-out and operating. The location is outstanding and the layout allows for our Superstore model,” stated Craig Frank, CEO of Kaya Holdings. “As exciting,” continues Frank, “the lease for our 4th store, also a Superstore, provides us with another excellent location”.
“These two additional stores – bringing our total to 4 stores – alongside Kaya Farms, the Kaya Buddies brand, and products now under development, represent a significant opportunity for the Company to substantially increase revenues, further entrench the Kaya Shack™ brand, and establish Kaya Holdings as the leading publicly traded company actually interacting with cannabis. Beyond being historic, this fact serves as the foundation on which we can continue to expand our brand and develop a world-class cannabis company.”
In an unrelated announcement the Company confirmed that they have filed their 2015 Annual Report on Form 10-K and that it is now available at www.sec.gov. The 10-K has audited results of operations for 2015 (average monthly revenues for Q-4 since the inception of recreational marijuana sales were up approximately 700%) as well as details of Kaya Farms Cannabis Crop Reports, results of “Kaya Buddies” branding development and an overview of the 2 new Kaya Shack™ Marijuana Superstores stores currently under development.
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 one operating Kaya Shack™ marijuana dispensary in Portland, Oregon, and the newly launched Kaya Farms Marijuana Manufacturing Facility in Portland, Oregon, a second Kaya Shack™ - a Marijuana Superstore - operating in South Salem, Oregon, and the third and fourth locations (in North and Central Salem, respectively) being built-out. While KAYS believes that the third and fourth stores will be completed and licensed shortly, there can be no assurance that this will occur, or if it does occur that they can be operated profitably for the benefit of KAYS shareholders.
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