Kaya Group entered into a definitive agreement to acquire NUGL, Inc. (OTCPK:NUGL) in a reverse merger transaction on March 14, 2022. Once transaction is closed NUGL will hold 49% of the voting equity of the Kaya Group, and hold 100% of the economic interests in the Kaya Group pursuant to a shareholders agreement. Post transaction, NUGL, Inc. is expected to change its name to “Kaya Group Inc.” The transaction is subject to the fulfillment of certain customary closing conditions, including requisite shareholder approvals for the Transaction and receipt of applicable regulatory approvals, including the approval of the Jamaican Cannabis Licensing Authority (CLA).

Completion of the transaction is anticipated to occur on or before March 30, 2022.