SALEM, Ore., April 25, 2018 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (OTC:KAYS), announced today that it has opened its 4th legal marijuana dispensary in Central Salem, Oregon. The Kaya Shack™ Marijuana Superstore is licensed by the Oregon Liquor Control Commission (OLCC) for recreational and medical sales, as well as home delivery of cannabis products to anywhere within the geographical limits of Salem, Oregon.
Kaya Shack™ 4 is located in a strip mall that includes numerous fast food restaurants and businesses such as Carl Jr., Popeye’s Chicken, sandwich shops, a microbrewery sports bar, a laundromat, and other businesses with adjacent residential complexes to be constructed in 2018. It has a footprint of approximately 3,100 square feet and utilizes the Kaya Shack™ Marijuana Superstore model. We believe this store completes our penetration of the Salem, Oregon market which is home to over 165,000 residents and numerous colleges, universities and employers.
The shop features a wide variety of cannabis flower, extracts and oils, including vape pens and cartridges, edibles such as chocolates and gummies, and creams and lotions. The store will also feature accessories such as glass, papers, and Kaya Shack™ branded apparel and will continue to develop to incorporate unique features such as a juice bar and an in-store production area.
“This store has been a long time coming as the space suffered severe water damage last winter, delaying construction,” stated Craig Frank, CEO of Kaya Holdings. “We are pleased to be opening the shop, completing our expansion in Salem and allowing us to fully serve the Salem community with fine affordable cannabis. The completion of this stage of development further positions us to now embark on our next stage of growth which includes building Kaya Farms and the Kaya production complex and beginning our expansion into other states.”
About Kaya Holdings, Inc. (www.kayaholdings.com)
KAYS (OTCQB:KAYS), through subsidiaries, produces, distributes or sells legal premium medical and recreational cannabis products, including flower, concentrates and oils, and cannabis-infused foods.
In 2014, KAYS, became the first publicly traded company to own and operate a Medical Marijuana Dispensary. KAYS presently has four Kaya Shack™ OLCC licensed retail marijuana stores to service the legal medical and recreational marijuana market in Oregon (www.kayashack.com). Additionally, KAYS recently acquired a 26 acre parcel which it has targeted for development of the Kaya Farms™ Medical and Recreational Marijuana Grow and Manufacturing Complex.
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 US Attorney General Jeff Sessions Memo dated January 4, 2018, and subsequent commentary from US Attorney for the District of Oregon Billy Williams), and plan to proceed cautiously with respect to legal and compliance issues. Potential investors and shareholders are cautioned that KAYS 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.
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.