Breaking #Psilocybin #Stock
News: Kaya Holdings (OTCQB: $KAYS) Closes Additional Round of Non-Dilutive
Bridge Financing Targeted to Complete The Sacred Mushroom(TM) Psilocybin
Treatment Center
KAYS' Oregon Based
Psilocybin Treatment Center is on track to be the first of its kind operated by
a U.S. Public Company
FT.
LAUDERDALE, FL - October 18, 2023 (Investorideas.com Newswire) Kaya Holdings,
Inc., ("KAYS" or the "Company") (OTCQB:KAYS) announced today that it has closed an additional
round of bridge financing targeted to complete KAYS' planned psilocybin
treatment center in Portland, Oregon. The facility will operate under the name
"The Sacred Mushroom™.
Read this news, featuring KAYS in full at https://www.investorideas.com/CO/KAYS/news/2023/10181Closes-Non-Dilutive-Bridge-Financing.asp
Total funds received from our bridge
financing since the first installment was received in June 2023, are $600,000,
with no commissions or fees associated with the financing. The funds are not
convertible into KAYS stock. $100K of the funds are in the form of short-term
financing with repayment due March 15, 2023, and $500K is due to be repaid from
10% of KAYS' revenues quarterly, with any unpaid balance due June 30, 2025.
View from The Sacred Mushroom™ -
Mount Hood can be seen above the Portland, Oregon skyline from our 7th-floor
facility.
We believe that KAYS is presently the
only U.S. public company engaged in securing an Oregon Health Authority
("OHA") license to open a psilocybin treatment center, aiming to
create a setting that is unmatched by any other facility and providing access
to relief from treatment-resistant mental health conditions, including
depression, anxiety, additions, and eating disorders.
Approximately every 40 seconds
someone in the world commits suicide.Psilocybin may soon be available as a
mainstream medical treatment for treatment-resistant depression (TRD) and other
mental health diseases, potentially providing a new lease on lifefor millions
worldwide for whom current medications do not work.
Our
Treatment Model
A recently published report on
psilocybin treatment prices in Oregon showed that Initial prices for one
facility range from $300 for a group microdose session to $3,500 for an
individual high-dose session, with another facility pricing first-time
full-dose treatments at $15,000 (these prices do not include the cost of the
psilocybin, which can run from $300 to $500).
KAYS expects its planned model
facility to offer a superior setting, broader activity and treatment options,
integrated cultivation and processing, and accessible pricing, thereby enabling
us to deliver a superior treatment experience at a much lower price than the
competition, while still achieving profitability.
The Sacred Mushroom™ has
approximately 11,000 sq ft. and will provide visitors with access to our
microdosing café, private treatment rooms and group session areas, and activity
zones with yoga, listening stations, journaling chairs, and art expression for
distinctive, effective, and positive psilocybin treatments.
Timeline
KAYS expects to complete its initial license application within the next 30
days, and subject to OHA approval, intends to bring the facility online within
90 days. KAYS plans to operate The Sacred Mushroom™ as part of its Fifth
Dimension Therapeutics, Inc. subsidiary ("FDT"), which also plans to
work cooperatively with select pharmaceutical companies to maximize the
curative potential of psilocybin.
KAYS SHAREHOLDERS AND OTHER
INTERESTED PARTIES - PLEASE UPDATE YOUR CONTACT INFORMATION
We routinely receive calls and emails from shareholders asking us questions
about KAYS, so we are asking all KAYS shareholders to email us and confirm
their contact info. Please email info@kayaholdings.com with "KAYS
shareholder update" in the subject line and include your name, address,
phone number and number of shares you own so that we may make sure you receive
all updates and can respond to any shareholder inquiries. If you would like to
speak to someone at the Company, please call ore text 954-480-3960 and someone
will get right back to you.
About Kaya Holdings, Inc. (www.kayaholdings.com)
Kaya Holdings, Inc is a "mind
care" company with operations in medical/recreational cannabis and pending
operations in the emerging psilocybin sector. KAYS is a fully reporting,
US-based publicly traded company, listed for trading on the over-the-counter
market under the symbol KAYS.
In 2014 KAYS became the first US
public company to own and operate a medical cannabis dispensary (in Portland,
Oregon). The Company still operates the original Kaya Shack™ cannabis
dispensary while seeking to shift our cannabis operations to serve the European
Union. KAYS has interests in three medical cannabis licenses (2 in Greece, 1 in
Israel) to advance this effort.
Resuming
its role as innovator and trendsetter, the Company is again breaking ground in
the United States with the planned introduction of psilocybin treatment centers
through our majority-owned subsidiary, Fifth Dimension Therapeutics, Inc.
("FDT").
KAYS subsidiaries include:
Fifth Dimension Therapeutics,
Inc. serves as the Company's operating branch in the psychedelic
treatment sector, including operation of mushroom cultivation facilities and
The Scared Mushroom™ treatment centers.
Marijuana Holdings Americas,
Inc. owns the Kaya Shack™ brand of licensed medical and
recreational marijuana stores (www.kayashack.com)
and the Kaya Farms™ brand of cannabis production and processing operations in
the United States.
Kaya Brands International,
Inc., serves as the vehicle for the Company's non-U.S. operations
including cultivation activities under development in Greece and Israel.
Kaya Brands USA, Inc.
owns a wide range of proprietary brands of cannabis extracts, oils, pre-rolls,
topicals, edibles and beverages, cannaceuticals and related accessories.
Important
Disclosure
KAYS is planning execution of its stated business objectives in accordance with
current understanding of state and local laws and federal enforcement policies
and priorities as it relates to psychedelics and cannabis. Potential investors
and shareholders are cautioned that KAYS and subsidiaries including FDT 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 and psychedelic products, engaging in said
activities or acquiring existing production/sales operations). Advice of
counsel with regard to specific activities of KAYS, 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.
Additionally, the launch of The Sacred Mushroom™ Psilocybin Treatment Center is
dependent, among other matters, on final Oregon Health Authority
("OHA") licensing and receipt of final financing from our investors.
Forward-Looking Statements
This press release includes statements that may constitute
"forward-looking" statements, usually containing the words
"believe," "estimate," "project,"
"expect" or similar 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.
SOURCE: Kaya
Holdings
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