First Caribbean medical cannabis brand to be acquired by cannabis platform

NUGL has entered into of a definitive acquisition agreement to acquire the outstanding shares and economic interests of Saint Ann, Jamaica based Kaya, which includes Jamaica Ganja Corporation, Island Kaya Group Limited, Kaya Extracts Ltd., The Herb Company Limited, Island Kaya Tours Ltd., Island Kaya Spa Ltd., and Irish Rover Limited, subject to certain conditions and applicable shareholder and corporate approvals. Kaya is a vertically integrated cannabis company licensed to cultivate, process, distribute, and retail medical cannabis in Jamaica through its affiliate Island Kaya. Immediately following the Transaction, NUGL, Inc. is expected to change its name to “Kaya Group Inc.”

Kaya is the first medical cannabis brand from the Caribbean, as well as one of Jamaica’s leading, vertically integrated medical cannabis companies. Kaya's diverse operations include a licensed cultivation facility, processing facility, 3 retail herb houses, and one ganja franchise in Punta Del Este, Uruguay. Kaya was the first to open a medical cannabis location in Jamaica in March 2018 and has established itself as a leading supplier and supporter of medical cannabis throughout the Caribbean. Kaya's holistic, wellness-focused ecosystem was created to teach its visitors about the history of Ganja in Jamaica and show them how it’s grown, while enjoying it in a social setting. Kaya's locations offer locally grown herbs and straight-from-the-farm extracts, world-renowned cuisine, juices at its cafe, and a tourist-friendly pizza restaurant. Patients can bring their own medical licenses from their home country or visit a doctor on Kaya's premises.

“Our shared vision of continued investment into our core markets, while we focus on launching the brand in International markets with their core media assets in print and digital, makes this a complimentary fit for both companies,” said Bali Vaswani, Chairman and CEO of Kaya.

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