Kaya Holdings,Inc. (OTCQB: KAYS), through its majority owned subsidiary, Kaya Brands International, Inc. (“KBI”), announced on November 5 that it has completed a Letter of Intent setting out the terms and conditions for KBI to acquire a 50% interest in Greekkannabis, PC (“GKC”). GKC is a cannabis company based in Athens, Greece, which has applied for and is awaiting a license from the Greek Government to grow, process and export medical cannabis.
The Letter of Intent sets out an agreement in principle, whereby, in return for KBI providing the necessary expertise in relation to cannabis cultivation and treatment, brand development and other matters, KBI will be entitled to acquire a 50% interest in GKC by reimbursing it for 50% of its licensing costs (also taking into account KBI’s expenses).
The completion of the transaction provided for in the Letter of Intent is subject, among other customary conditions, to the satisfactory completion by KBI of its GKC evaluation study, the preparation of the project, the signature and delivery of the final transaction documents and the authorization and issuance of the final licence by the Greek Government.
GKC plans to establish its cannabis cultivation and processing facilities on land already identified outside Athens. The project management envisages 3 development phases, each comprising 125,000 square feet of greenhouse cultivation in the absence of light. Each phase is expected to produce 93,600 pounds of high-quality medical cannabis, for an anticipated total project capacity of at least 280,000 pounds per year for the European and other selected markets. As a member of the European Union, Greece has easy access to the European market.
WHL – another experienced cannabis company that eyed the European cannabis market
World High Life’s investment strategy is to focus on making investments and/or to acquire companies operating within the burgeoning legal Medicinal Cannabis, Hemp and CBD industries to achieve an attractive total return primarily through capital appreciation.
World High Life PLC (NEX: LIFE) is aiming to become the world’s leading CBD and medicinal cannabis player by the acquisition of the most promising UK and European companies. In this regard, the company just acquired Love Hemp Ltd. in a transaction involving all shares valued at 9 million GBP.
Love Hemp Ltd. is a British producer of CBD products, including vapes, oils, cosmetics, edibles and CBD-infused beverages.The company sells its products in 1,200 UK high street stores. Additionally, the company has agreements with big networks such as Boots, Tesco, Superdrug and Sainsbury’s.
Through Love Hemp, World High Life wants to expand into other European markets, starting with Germany in 2020.
The European cannabis market is extremely promising. Cannabis companies like Kaya Holdings and World High Life are set to dominate the legal cannabis sector by identifying and acquiring companies with potential in emerging European markets.