Dec. 19, 2017 – Editor’s note: The information regarding the shareholder’s call has been updated following a Dec. 18 news release from Kaya Holdings.
Florida-based Kaya Holdings, Inc. announced on Nov. 16 that they have taken another step in developing the 26-acre property it recently purchased in Lebanon.
The listed owner of the property is 34225 Kowitz Road, LLC, which bears the address of the property.
The company has retained Eugene-based architectural design firm Willard C. Dixon Architect, LLC “to design and assist with developing the company’s cultivation and manufacturing facilities,” according to a news release.
“Willard C. Dixon & Associates will assist the company with the initial site layout and design of the Kaya Farms Marijuana Grow and Manufacturing Facility, including, securing all necessary permits, creating construction documents, and overseeing construction of cost-effective, energy efficient structures,” the release states.
According to the news release, the company plans to develop a “100K-plus-square-foot” Kaya Farms Grow and Manufacturing Facility, “which, using a mix of indoor and greenhouse cultivation, once fully developed, we anticipate will yield in excess of 4,500 pounds of top-quality marijuana annually.”
The company plans to expand production capabilities with brands in “oils, vape cartridges, concentrates, a selection of edibles, and infused creams and lotions.”
“The Company has certain brands in advanced stages of development and expects to be making additional announcements with respect to brand development and introduction in the near future,” the release states.
Ross Day, an attorney who has represented Kaya Holdings, contacted the Linn County Planning Department on Oct. 25.
“The department has been contacted by their attorney and (we) provided him with the appropriate land use applications and explained the application process,” said Alyssa Boles, senior planner, Linn County Planning and Building.
They had not submitted the applications as of Nov. 16.
Kaya Holdings, Inc. is a public company that trades on the OTCQB exchange under the symbol KAYS.
Companies that trade on that exchange are required to file reports with the U.S. Securities and Exchange Commission.
Linn County Commissioner John Lindsey sent an email to SEC Chairman Jay Clayton on Sept. 22 with a question “about soliciting funds for investments on a property that a company apparently does not own.”
As of Oct. 11, Lindsey had not gotten a response from the SEC, he said, but he sent another email to Clayton on Oct. 5.
On Nov. 1, Lindsey received an email confirmation of receipt.
“Your correspondence was referred to the Office of Investor Education and Advocacy (OIEA),” said Gloria Smith-Hill, branch chief of the OIEA.
“We appreciate your informing us of your concerns regarding potential misrepresentations by Kaya Holdings, Inc. regarding its purchase of a land deed in Lebanon, Oregon,” Hill said in the letter. “Please note that there are no express restrictions on the registration of cannabis-related companies.”
She said the SEC’s authority extends to disclosure.
“The purpose of our review of registration statements and other required disclosures is to make sure that the investing public is provided with full and fair disclosure of the important information needed to make informed investment and voting decisions,” Hill said. “Moreover, companies offering securities are subject to the antifraud provisions of the federal securities laws.”
Smith-Hill referred him to the Investor Alert on marijuana-related investments at sec.gov/oiea/investor-alerts-bulletins/ia_marijuana.html.
Smith-Hill said the “SEC conducts its investigations on a confidential and nonpublic basis and neither confirms nor denies the existence of an investigation unless the SEC brings charges against someone involved. We do this to protect the integrity and effectiveness of our investigative process and to preserve the privacy of the individuals and entities involved.”
Because of that, she said her office was unable to confirm the existence or status of a complaint or any pending SEC investigation.
Kaya Holdings’ annual shareholder conference call is scheduled for 2 p.m. EST on Dec. 20.
According to the news release, topics to be discussed in the call are Kaya Shack store performance, new store development, OLCC licensing update, new brands to be introduced in 2018, an industry overview and the acquisition of our 26-acre parcel and its development of the Kaya Farms 100,000-square-foot grow and manufacturing facility.
The KAYS shareholder meeting webinar is at 10 a.m. on Wednesday, Dec. 20. Click here to access the link.