Proactive expansion of growing brand will generate additional cash and improve margins
KINGSTON, Jamaica and LOS ANGELES, Feb. 14, 2023 (GLOBE NEWSWIRE) — Kaya Group (“Kaya”) or (“the Company”) (OTC:NUGL), the first medicinal Ganja herb house in the Caribbean and holistic, wellness-focused ecosystem, announced today plans to expand its already profitable Jamaican operations. This marks an important milestone as the Company focuses on core revenue generating areas that have continued to grow year over year.
Kaya Group will focus its resources on optimizing its operations in Jamaica with further expansion in our hospitality, cannabis, and psychedelic offerings, which have been well received by the local and tourist market. The Jamaican operations of Kaya Group include Kaya Herb House premium retail locations in Kingston within the golden triangle and historic town of Falmouth, as well as its flagship retail complex , cultivation and processing operations in Ocho Rios. Kaya recently opened its first phase of its Wellness Center at The Gap, located in the pristine hills of the Jamaican Blue Mountains, part of the UNESCO World Heritage site.
Kaya Group has posted sales growth of 15% year over year and continues to implement marketing strategies to improve our sales target while reducing our SG&A. Medicinal cannabis sales continue to improve year over year with our premium quality cannabis products offered to our customers and third-party sales as the driving force behind this growth. We had 38,710 members at the end of FY 2022,which is a 12.5% …
