PORTLAND, Ore., July 2, 2014 /PRNewswire/ -- Alternative Fuels Americas, Inc. (AFAI) announced today that its majority owned subsidiary Marijuana Holdings Americas, Inc. will open the first Kaya Shack™ on Thursday, July 3, 2014 at 10:00 a.m. and commence sale of marijuana to licensed medical marijuana cardholders in Portland, Oregon. The first Kaya Shack™ marijuana dispensary is the beginning of a planned rollout of a national chain. The opening places AFAI as the first US publicly traded company to own a majority interest in a marijuana dispensary conducting legal sales of marijuana in the United States.
"We are very excited to be opening the first Kaya Shack," states CEO Craig Frank. "We believe our brand is unique and inviting, and our staff is well trained to provide a friendly and knowledgeable consumer experience. Our wide selection, sharp appearance, friendly service and highest quality standards will make our MMFs the first choice for medical marijuana patients in Portland, Oregon, and will lay the foundation for a nationally recognized brand."
This grand opening marks the further implementation of the Company's business plan that calls for activity in the legal marijuana sector in select states and coincides with great interest in marijuana companies. The Company has targeted adding an additional 4-6 Kaya Shacks in Oregon and has plans to place Kaya Shacks in other states once pending legislation passes (including its home state of Florida where a referendum on medical marijuana will be on the ballot in November).
About Alternative Fuels Americas (AFAI)
AFAI (OTCQB: AFAI) is a disruptive sectors company seeks to identify and enter early stage business opportunities that mark a significant change in the status quo from which to extract value for its shareholders. The company's alternative fuels division has pioneered the development of above ground oil fields in Central America and continues to innovate clean fuel - recently focusing on aviation fuel.
Marijuana Holdings Americas (MJAI)
AFAI's subsidiary, Marijuana Holdings Americas, Inc. was founded to enter the rapidly growing medical and recently legalized recreational marijuana market with the goal of securing new medical and recreational marijuana licenses, potentially acquiring existing Cannabis production/sales operations and evaluating related business opportunities, subject to legal compliance and advice of counsel.
IMPORTANT DISCLOSURE: AFAI and MJAI are planning execution of their stated business objectives in accordance with current understanding of State and Local Laws and Federal Enforcement Policies and Priorities as it relates to Marijuana (as outlined in the Justice Department's Cole Memo dated August 29, 2013), and plan to proceed cautiously with respect to legal and compliance issues. Potential investors and shareholders are cautioned that AFAI and MJAI will obtain advice of counsel prior to actualizing any portion of their business plan (including but not limited to license applications for the cultivation, distribution or sale of marijuana products, engaging in said activities or acquiring existing Cannabis production/sales operations). Advice of counsel with regard to specific activities of AFAI and MJAI, Federal, State or Local legal action or changes in Federal Government Policy and/or State and Local Laws may adversely affect business operations and shareholder value.
Forward Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For more information visit www.afai-mjai.com or contact Craig Frank, Investor Relations: 561-210-7664
SOURCE Alternative Fuels Americas, Inc.