CORAL SPRINGS, Florida, May 17, 2016 /PRNewswire/ --
Marijuana and Cannabis opportunities shows no signs of slowing down as experts forecast the market to top $7 Billion by the end of 2016 in a recent Forbes article with companies aiming to take advantage through new storefronts to reach more consumers. Brick and mortar cannabis stores are becoming increasingly common throughout the United States as the industry swells behind increased acceptance and surging revenue.
Developments of importance in the markets today are: Kaya Holdings, Inc. (OTCQB: KAYS) confirmed today that it has concluded lease agreements and filed license applications for its next two Kaya Shack™ Marijuana Superstores, which when fully licensed and open will bring the total to four retail marijuana locations operating under the Kaya Shack™ brand. Store #3 is located in North Salem, Oregon, adjacent to a Starbucks Coffee and Store #4 is to be located in Central Salem, Oregon, near a Popeye's Chicken and other nationally recognized fast-food and retail brands. Both of these new locations are being developed using the attractive "Marijuana Superstore" footprint, which allows for increased revenue opportunities.
"We are pleased to have resolved the issues surrounding the 3rd store lease and are anxious to get that store built-out and operating. The location is outstanding and the layout allows for our Superstore model" stated Craig Frank, CEO of Kaya Holdings. "As exciting," continues Frank, "the lease for our 4th store, also a Superstore, provides us with another excellent location." "These two additional stores - bringing our total to 4 stores - alongside Kaya Farms, the Kaya Buddies brand, and products now under development, represent a significant opportunity for the Company to substantially increase revenues, further entrench the Kaya Shack™ brand, and establish Kaya Holdings as the leading publicly traded company actually interacting with cannabis. Beyond being historic, this fact serves as the foundation on which we can continue to expand our brand and develop a world-class cannabis company."
Read the full Kaya Holdings (KAYS) Press Release at http://www.financialnewsmedia.com/profiles/kays.html
In an unrelated announcement the Company (KAYS) confirmed that they have filed their 2015 Annual Report on Form10-K and that it is now available at http://www.sec.gov. The 10-K has audited results of operations for 2015 (average monthly revenues for Q-4 since the inception of recreational marijuana sales were up approximately 700%) as well as details of Kaya Farms Cannabis Crop Reports, results of "Kaya Buddies" branding development and an overview of the 2 new Kaya Shack™ Marijuana Superstores stores currently under development.
Other marijuana & cannabis developments of importance in the markets are: Terra Tech Corp. (OTC: TRTC), a vertically integrated cannabis-focused agriculture company, last week announced its first quarter 2016 financial results for the period ending March 31, 2016. Derek Peterson, CEO of Terra Tech, commented, "We entered 2016 with strong momentum, with California's new Medical Marijuana Regulation and Safety Act (MMRSA) being signed into law in Q1 2016 and expected to take effect in 2018. This regulatory development has integrated cannabis cultivation into California's legal framework and has changed the legal landscape for the production of medical cannabis. Off the back of this momentum, our medical cannabis business made significant progress with the March 31st, 2016 acquisition of Blüm Oakland, an established retail medical cannabis dispensary based in Oakland, CA. Blüm Oakland was our first retail location to open, and it was quickly followed by the very successful Grand Opening in April of our Las Vegas-based retail dispensary located at 1921 Western Avenue. Management continues to work diligently toward opening the next three dispensaries in Nevada which we anticipate will happen in the summer of 2016. "In the first quarter we invested in researching and developing new forms of extracted cannabis products. By doing so, the Company reworked and refined its propriety recipe of extraction in order to produce a higher quality product that treats the individual ailments of patients. We have subsequently launched a new line of pre-filled cannabis cartridges and expect to launch more products in future months. Looking ahead, we continue to invest in producing the highest quality cannabis products, while taking steps to lower operating expenses and increase revenue," continued Mr. Peterson.
Surna Inc. (OTC: SRNA), a technology company that engineers state-of-the art equipment for controlled environment agriculture (CEA) with special expertise in cannabis cultivation, reported its results for the quarter ended March 31, 2016. CEO Stephen Keen said, "Throughout 2015 and 2016, we believe we have furthered our transformation to become one of the leading technology companies with cannabis expertise, energy-optimized products and turnkey cultivation solutions. First quarter 2016 results reflect our team's tremendous efforts as we nearly tripled revenue compared to the prior year's quarter and delivered operating income for the first time in the company's history. "Surna systems' sales momentum continues to see strong growth. Also, we are nearing fulfillment of a purchase order for over 400 Reflectors for use in a commercial facility. We expect completing our first installation of this magnitude will provide Surna with significant data to optimize the Reflector and installation protocol in scale. As typical with cannabis licensing and facility construction, there were delays and, therefore, the Reflector delivery was postponed. In the meantime, we seized the opportunity to advance the Reflector and incorporate an interactive control system that will allow for facility temperature control using the cooling power of the Reflector itself. We believe we will begin shipments this quarter and remain quite confident this installation will provide important validation of our products and technologies.
As Hemp, Inc.'s (OTC: HEMP) multi-purpose industrial hemp decortication facility nears completion, executives are shifting their focus to sales and marketing and are pleased to announce the sale of approximately 7,000 pounds of raw Kenaf to a Tennessee company involved in the biofuel industry. According to David Schmitt, COO of Hemp, Inc.'s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM), the company purchased the raw kenaf for testing and evaluation. "We are extremely optimistic that this sale will lead to even more sales of our raw kenaf," said Schmitt. "We are also currently working with several Fortune 500 companies on various projects involving either kenaf or industrial hemp." Last week's sale of kenaf (a cousin plant to hemp in the hibiscus family) has definitely kicked Hemp, Inc.'s product sales into action. Schmitt says the company is currently negotiating a five-million-pound potential sale of raw kenaf. "We received a serious inquiry and price request for five million pounds of the raw kenaf we have on hand. If we finalize this sale, we could be looking at $1,250,000."
Medical Marijuana, Inc. (OTC: MJNA) announced last week to shareholders and the public that the Company and its subsidiaries are featured in a documentary Crisis premiering in Mexico next week. Award-winning producer Jordan Guzzardo and photojournalist Christian Rodas of CMW Media accompanied Mexican father Abelardo Maldonado on Feb. 2 to COFEPRIS in Mexico City, to document the historic day as Maldonado picked up the first-ever federal import permit issued for a cannabis product. On that day, Maldonado picked up his COFEPRIS import permit for Medical Marijuana, Inc.'s cannabidiol (CBD) hemp oil product Real Scientific Hemp Oil-X™ (RSHO-X™), for his 11-year-old daughter Alina. The family of Grace Elizalde, who's diagnosed with Lennox Gestalt Syndrome, created the legal precedent for Alina to import RSHO-X™. The Elizalde family was the first in Mexico to sue the federal government and win the right to import CBD hemp oil. Grace was subjected to several different treatment protocols -- 19 in all -- with no lasting success.
FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at financialnewsmedia.com. Follow us on Facebook: facebook.com/financialnewsmedia and Twitter: twitter.com/FNMgroup.
DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNMG has been compensated one thousand nine hundred dollars for news coverage of the current press release issued by Kaya Holdings, Inc. by the company. FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.
SOURCE FN Media Group LLC