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$NUGL NUGL Inc. Closes Acquisition Of Kaya LLC, One Of Jamaica’s Leading, Vertically Integrated Medical Cannabis CompaniesPress Release | 04/05/2022
The combined companies will showcase strong leadership teams, a portfolio of powerful brands and operations delivering quality at scale
The new combined company will utilize multiple markets, retail locations, technologies and distribution facilities, paired with solid backing and options to operate in numerous countries
LOS ANGELES and KINGSTON, Jamaica, April 05, 2022 (GLOBE NEWSWIRE) -- NUGL Inc. (“NUGL”) (OTC: NUGL), a cannabis-focused, technology-based multimedia platform, announced today it has completed the previously announced acquisition of Kaya, Inc. (“Kaya”) in an all-stock transaction. Kaya shareholders received restricted shares of NUGL, Inc., which were issued pursuant to an exemption from registration provided by Section 4(2) of the Securities Act of 1933 as “Restricted Securities.” The Company has appointed Bali Vaswani, Chairman and CEO of Kaya, as its CEO. CJ Melone, CEO of NUGL Inc., was appointed Chief Operating Officer of the combined companies, with a responsibility to build out the Kaya brand through established partnerships in key markets. NUGL, Inc. is expected to change its name to “Kaya Group Inc.
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. Its diverse operations include a licensed cultivation facility, processing facility, 3 retail herb houses, and one ganja franchise in Punta Del Este, Uruguay. Cannabis analytics firm Headset projects legal U.S. cannabis sales to surpass $30 billion this year and reach $45.8 billion by 2025. In addition to the U. S. market, Jamaica and the other Caricom countries are considered to be one of the fastest growing cannabis markets. In April 2015, the Government of Jamaica amended the Dangerous Drugs Act (DDA) to decriminalize cannabis possession, legalize home cultivation for medicinal, spiritual and sacramental use, and create a new, licensed industry for medical cannabis and hemp. In addition to this landmark legislation, a number of Caricom (Caribbean Community) countries are exploring the use of cannabis in health and wellness, with investors seeking to increase products for local use and export.
Bali Vaswani, Chairman and CEO of Kaya, said, “Near-term, Kaya's markets will be the U. S. and the Caricom countries. As we launch the Kaya brand in and expand into new markets, we expect to benefit tremendously from NUGL's print and digital core media assets. Each of our locations can house over 1,000 patrons, which is an ideal scenario for hosting live content on NUGL's platform." Mr. Vaswami continued, "I look forward to working with the talented NUGL team as we integrate and align our cultivation, retail, and operational practices to continue providing our patients and customers with best-in-class product offerings and retail experiences."
NUGL is a community-driven, cannabis business directory and search app offering an unbiased platform for businesses and consumers to interact. NUGL combines a digital and print magazine with its cannabis friendly multimedia platform to provide marketing opportunities in print, digital and video format. NUGL connects cannabis companies across the nation, bringing the cannabusiness community closer together while facilitating connections with consumers in emerging and expanding markets. In line with the acquisition of Kaya, NUGL has hosted live concerts with reggae artist like Popcaan “Vanquish” Acoustic Show, Kymani Marley, Beenie Man, David Rodigan, Chronixx, Keznamdi, Jesse Royal, Jah9, Lila Ike, Protoje and Toots, and The Maytals.
CJ Melone, CEO of NUGL Inc., stated, "We are very optimistic as we join forces with Kaya to create one of the most prominent cannabis companies in the U. S. and the Caricom. With our shared core philosophies and complementary areas of expertise, we expect to execute on our collective vision immediately. In the evolving and fast-growing cannabis industry, the opportunities to better achieve our mission through consolidation led us to this historic moment.” Mr. Melone continued, “With Kaya’s strategic national footprint in the Caricom markets and NUGL’s success in execution in print, digital media, and social media assets, we believe we have the potential to create the most important and investable company in cannabis. There is no better team in the industry to maximize the potential of this market defining combination.”
About Kaya Group
Kaya is Jamaica’s leading vertically-integrated medical cannabis company with diverse operations headquartered in Ocho Rios, which includes a licensed cultivation facility with over 40 genetics, a processing facility, three retail dispensaries, and conditional licenses to transport and operate therapeutic wellness spas. The Kaya Group was the first to open a medical cannabis retail location in Jamaica in March 2018 and has since established itself as a leading supplier and exporter of medical cannabis throughout the Caribbean, Australia and South America through its ganja franchise with Quantum Ventures in Punta Del Este, Uruguay. For more information on Kaya please visit www.kayaherbhouse.com.
About NUGL Inc.
NUGL is a cannabis business directory and search app that offers an unbiased platform for both businesses and consumers. Our app seamlessly blends with our digital and print magazine, and our cannabis friendly multimedia platform providing marketing opportunities for business profiles, in print, digital and video format. NUGL is community-driven, and together we’ve built a place where all things cannabis can be welcomed and enjoyed by all.
You can review all the latest features at nugl.com and nuglmagazine.com and download the new iOS and Android apps in the Apple App Store and Google Play Store. For more information and updates, visit one of the links below.
NUGL TV: NUGL TV
NUGL Magazine: NUGL Magazine
Instagram - NUGL Instagram
Facebook - NUGL Facebook
Twitter - NUGL Twitter
LinkedIn - NUGL LinkedIn
YouTube - NUGL YouTube
Join our Newsletter - Join NUGL's Newsletter
Forward-Looking Statements
Certain statements in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the preceding. Such forward-looking statements generally start with the "plans," "anticipates," "expects," "believes," or similar words of like kind. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those outlined in, contemplated by, or underlying the forward-looking information. The company's business plan addresses these factors in greater detail, along with NUGL's current financial filings with the OTC Markets Group.
For Media and Investor Relations, please contact:
David L. Kugelman
(866) 692-6847 Toll Free - U.S. & Canada
(404) 281-8556 Mobile and WhatsApp
dk@atlcp.com
AskMuncher
4 년 전
$NUGL Corporate Update: COVID-19 Response from NUGL Inc.
Press Release | 06/30/2020
LOS ANGELES, June 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- NUGL Inc. (OTC: NUGL) (the "Company"), a search directory and multimedia platform for the cannabis industry, is releasing this corporate update on the current status during the COVID-19 quarantine period and future growth strategy of the company.
"First and foremost, our thoughts are with those infected by the COVID-19 virus, and we would like to formally acknowledge and thank the brave first responders, essential business employees, and medical professionals for risking their lives and getting the country and world through this.
I want to assure our clients and investors that NUGL has been and will continue to be committed to building fantastic technology for our industry. Our focus for the future will be meeting the immediate needs of our clients during the rebuilding period post quarantine.
During the quarantine period, we have used this time to build some great new software features such as an all-new search engine, so our users have a much easier time searching for brands, businesses, and locating products. We have redesigned our mobile apps from the ground up and are readily available in both the Android and Apple marketplace. The new mobile apps work seamlessly with our web app and offer all the same great features, such as brand and retail tagging with the store locator. We have also expanded our contributor base for more diverse and exciting content in NUGL Magazine, which we are pleased to announce will now offer home subscriptions for the first time in issue #6. We also go live on Instagram every day at 4:20 pm to speak with and promote exciting and up-and-coming brands and innovators in our industry.
Our focus has and always will be to support the dispensaries and brands in our cannabis community while giving better access and usability to their clients. NUGL has developed what we feel is the best software on the market, combined with video, digital, and print advertising platforms. The shutdown has affected so many businesses and individuals and will continue to do so. We at NUGL will keep improving our platforms to adapt the "stay at home" order so businesses can continue to thrive during these unprecedented times.
We want to thank everyone that is keeping the industry secure and send our best wishes to all. We are ready to do the heavy lifting, leveraging all our assets and resources during the rebuilding period, and work tirelessly for our community." - CJ Melone CEO
You can review all the latest features at nugl.com and nuglmagazine.com and download the new iOS and Android apps in both the Apple App Store and Google Play Store.
For more information and updates, visit one of the links below.
Instagram (IG): https://www.instagram.com/nuglofficial/
Facebook (FB): https://www.facebook.com/nuglofficial/
Twitter (TW): https://twitter.com/nuglofficial/
LinkedIn (LI): https://www.linkedin.com/company/nuglofficial
YouTube (YT): https://www.youtube.com/c/NUGLMedia
Join our Newsletter: https://nugl.us16.list-manage.com/subscribe?u=219fe8bb6995a19827c9f36cb&id=dc46712578
NUGL Magazine: https://www.nuglmagazine.com
Forward-Looking Statements
Certain statements in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the preceding. Such forward-looking statements generally start with the "plans," "anticipates," "expects," "believes," or similar words of like kind. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those outlined in, contemplated by, or underlying the forward-looking information. The company's business plan addresses these factors in greater detail, along with NUGL's current financial filings with the OTC Markets Group.
NUGL PR
7143839982
investorrelations@nugl.com
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