Kaya Holdings, through its majority-owned subsidiary, Kaya Brands International has progressed on its plans to develop a state-of-the-art cannabis cultivation facility in Israel. "Kaya Farms Israel plans to cultivate cannabis for export to the European and Asian markets, in compliance with applicable laws," the team with the company explains.
"Since mid-2019 Kays' management has been developing the project and negotiating with the Management Committee of a Moshav (collective farm) located 25 minutes northeast of Tel Aviv to lease the land. After conferring with Zysman, Aharoni, Gayer, Kays' attorneys in Israel, our Management is confident that we will be able to reach a definitive agreement to lease the land and the appropriate licenses secured from the government."
According to them, a formal Memorandum of Understanding (MOU) with the Moshav setting forth the basic terms for the project, including a 25-year land lease and governing provisions for the venture, is being delivered for review to the Moshav Management Committee and its counsel. "The project envisions a series of light deprivation greenhouses with an annual cultivation capacity of not less than 375,000 pounds of premium medical-grade cannabis," they further explain.
"We spent the last six years gaining incomparable cannabis experience through our legal cannabis cultivation, retailing and branding activities in Oregon - perhaps the most complex and challenging legal cannabis arena in the U.S. Our strategic decision to leverage our experience internationally has so far led us to undertake efforts to franchise our retail brand, Kaya Shack™, in Canada, as well as our MOU to develop a branch of Kaya Farms™ in Greece," commented Craig Frank, KAYS' CEO. "The progress we are pleased to report towards the establishment of Kaya Farms™ Israel evidences yet one more piece of the Company's 2020 growth and value creation plan."
"It was an Israeli scientist, Rafael Mechoulam, who first isolated the psychoactive chemical in cannabis back at the Weizmann Institute in 1964," added W. David Jones, KAYS Senior Advisor for Business Development, Licensing and Financial Operations. "It is no exaggeration that Israel is known as the "Silicon Valley of Medical Cannabis", and the Company is currently evaluating working with Israeli technology and design companies, as well as some local small farms, to gain additional traction in the Israeli cannabis community to serve as a springboard to the European and Asian markets as they develop."
For more information:
Kaya Holdings
915 Middle River Drive. Suite 316
Fort Lauderdale, Florida 33304
P: 954-892-6911
E: info@kayaholdings.com
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