Kaya LLC , a vertically integrated cannabis company and Wellness Ecosystem will create tremendous synergy with the core print and digital media assets ofNUGL, Inc. - Based in
Jamaica , Kaya is the first medicinal GanjaHerb House in theCaribbean . - Access to capital markets will enable Kaya to accelerate growth and enhance its unique Wellness Ecosystem offering.
- Completion of the Transaction is anticipated to occur on or before
March 30, 2022 , and the company will be renamed “Kaya Group, Inc.”
Kaya is the first medical cannabis brand from the
“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
Benefits of the Transaction
- Access to capital markets will enable Kaya to accelerate growth and enhance its unique Wellness Ecosystem offering into international markets.
- Strong operating team in one of the most regulated medical markets with a strong track record since 2015.
- Curate local media for NUGL platform utilizing Kaya’s award-winning retail stores for content which have already hosted live concerts with some of the most talented reggae artist including Popcaan “Vanquish” Acoustic Show,
Kymani Marley , Beenie Man, David Rodigan, Chronixx, Keznamdi,Jesse Royal , Jah9,Lila Ike , Protoje, and Toots and The Maytals.
Definitive Agreement
Pursuant to the terms of the Definitive Agreement, the Transaction is proposed to be completed by way of a share exchange. Approximately 816,482,051 NUGL Shares will be issued to Kaya shareholders in the aggregate. After giving effect to the Transaction, the Combined Company is expected to have approximately 868,482,051 shares issued and outstanding (non-diluted). Consistent with the regulations of the
The NUGL Shares to be issued to Kaya Shareholders will be restricted securities subject to a holding period pursuant to applicable securities laws.
Completion of the Transaction is anticipated to occur on or before
CJ Melone, CEO of
Capital Raise
Prior to the transaction NUGL filed a Regulation A Offering circular that has been qualified by the
Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.
Cautionary statements
This press release contains "forward-looking information" within the meaning of applicable securities laws relating to the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction, and that the Transaction will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The statements in this press release are made as of the date of this release. NUGL and Kaya undertake no obligation to comment on analyses, expectations or statements made by third-parties in respect of the NUGL, Kaya, their securities, or their respective financial or operating results (as applicable). Completion of the transaction is subject to a number of conditions, including but not limited to, Kaya shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.
About
Kaya is Jamaica’s leading vertically-integrated medical cannabis company with diverse operations headquartered in
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