Kaya Holdings has completed the sale of its Eugene, Oregon cannabis facility for gross proceeds of $1,325,000.00.
"The Kaya Kannabis Greece Facility, together with Kaya Farms Israel, is configured to produce approximately 600,000 pounds of GMP Certified, Premium, Medical-Grade Cannabis annually for potential export to the European Union and elsewhere," the Kaya team explains.
"The funds we have received from the warehouse sale are being prioritized to advance the generation of revenues, including brand/product launches and on-the-ground progress in our licensed Greek and Israeli projects, as well as to complete initial construction and licensing at our 26-acre cannabis production facility in Lebanon, Oregon," stated Kaya CEO and Chairman Craig Frank.
Kaya Farms Operations, Oregon
"Our plan has always been focused on honing the skills we need to master the six core competencies we have identified as key to building tomorrow's cannabis sector leader - cultivation, processing, retail, brands, distribution, and technology," continued Frank. "We have become highly efficient in each of these skills, by expanding our knowledge internationally to include highly motivated, experienced experts from Israel, the EU, and Latin America. We will continue to build tomorrow's industry leader, keeping to the long-term business plan we have diligently been executing, out of the limelight and without the costly mega-deals being done solely to satisfy short-term investor demands."
"The closing of the sale this past week for $1.325 million yielded a gross cash influx of approximately $.09 per share." noted W. David Jones, Senior Advisor to the Company. "There were no new shares issued to accomplish this and, as part of our recently announced settlement with Sunstone Farms, 1,006,671 shares of KAYS stock were canceled, decreasing issued and outstanding shares by approximately 6.5% to 14.7 million shares. As we deploy capital to move the Company forward, we have also allocated funds to raise the profile of KAYS with investors as we believe we have a very interesting story to tell that will ultimately lead to the creation of improved stockholder value."