Kaya, which says it was the first public company to own and operate legal cannabis stores in the U.S., says the time is now right to expand overseas. The proposed deal will see it take a 50% stake in Greekkannabis (GKC) through its majority owned subsidiary; Kaya Brands International.
GKC is an Athens-based listed company which is awaiting approval on a medical cannabis cultivation, processing and export license from the Greek government.
The liberalisation of cannabis, which began under the former Syriza government, has continued under the new New Democracy centre-right party which won a snap general election in July, this year.
Commentators says the growing European demand for medical cannabis could help Greece recover from the sovereign debt crisis in a country which has an unemployment rate of around 17%. GKC plans to establish its cannabis cultivation and processing facility comprising 125,000 sq ft of greenhouses.
In a press release the partners say the site is capable of producing more than 280,0000 pounds of flowers, annually, for distribution throughout Europe and other selected markets. Kaya CEO Craig Frank said that since becoming the first U.S. public company to own and operate legal cannabis stores and farms, in 2014, it had ‘slowed its pace of growth’.
He said this was to enable it to ‘gain operational experience in Oregon – one of the world’s most intense cannabis environments – and then expand operations’. He said it now time for the Kaya Farms brand to expand, with Greece being the first port of call.
It is also looking to expand its Kaya Shack retail brand through franchising in Canada, saying it now has ‘operational experience and compelling brands to create exciting opportunities’.
The News Credit website reports that Greek government has granted a total of 26 cultivation licenses for the cultivation and processing of cannabis for medicinal purposes. The new Greek government says it is looking for overseas investment with the aim of creating thousands of new jobs.
For more stories like this one, subscribe to the CBD Business Weekly Newsletter.
The post American Pioneer Looks To Greece For First Overseas Investment appeared first on Cannadelics.
Take two of the most hot-button, tendentious issues of our time – cannabis use and gun rights – combine them, and now we really have a debate. As the law currently stands, medical cannabis patients are not afforded their 2nd amendment right to bear arms. Technically, all cannabis consumers are banned from buying guns, but only medical […]
The post Owning Guns is a Constitutional Right, Unless You’re a Cannabis User appeared first on Cannadelics.
Cannabis policy changes in Africa are welcome. But small producers are the losers by Clemence Rusenga
Cannabis is a drug crop with a long history in Africa. Alongside coca and opium poppy, it has been subjected to international control for nearly a century. The International Opium Convention of 1925 institutionalised the international control system and extended the scope of control to cannabis. In 1961 a new international convention was adopted to […]
A link to your site, with your site's name and description as anchor text.
University of Sydney to Offer Free Cannabis Testing by Johnny Green
The University of Sydney is launching a fairly robust study in an attempt to, as the university describes it, “investigate cannabis consumption, behaviours, and attitudes among users.” Part of the study involves offering free, anonymous cannabis testing for people that cultivate their own cannabis in the Australian Capital Territory (ACT). Cannabis was decriminalized in 2020 in the […]
A link to your site, with your site's name and description as anchor text.