Kaya Holdings Inc. (OTCMKTS: KAYS) is a well-known veteran in the legal cannabis industry. The vertically integrated and the first US publicly traded company is a top cannabis retailer, cultivator, processor, and distributor of premium cannabis products, primarily cannabis-infused baked goods, candies, flowers, and concentrates. The company also operates medical marijuana dispensaries and medical marijuana growing operations.
In the recent past, there has been evident growth within Kaya Holdings. Thanks to the support from its subsidiaries. And today, the company has reported awarding an initial permit to its Israeli subsidiary, Kaya Shalvah (Kaya Farms Israel), to develop an Israeli cannabis cultivation and processing facility. The Department for Medical Cannabis permit in the Israeli Ministry of Health is one of the major strongholds for the company as it pursues emerging markets significant to its growth and expansion.
The Formal Permission Demonstrates the Progress in Seeking to Establish KAYS
KAYS is currently operating two OLCC licensed marijuana retail stores in Oregon. They both service legalized medical and recreational markets. Meanwhile, the company is working on a third retail cannabis license relocation task, the Eugene and Southern Oregon Cannabis Market being primary targets and as delivery hubs.
Thus, obtaining formal permission is such an incredible milestone, according to KAYS’ CEO Craig Frank. He says, “… Israel offers an attractive market, access to additional markets, and proximity to an excellent knowledge base and cutting-edge technologies, which will aid us as we execute our international growth plan….”
The company is already tapping onto international expansion opportunities presented through an earlier acquisition of a 50% interest in Greekkannabis, its Greek Joint Venture partner.
And in other news, KAYS has confirmed having received a buy rating with a fair value of $0.89 from Fundamental Research Corp (FRC). In addition, a report filed under cover of 8-K outlined the company’s significant highlights included an expected launch of 14 brands, likely to happen later in the year.
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