Business
NUGL Inc. Announces $20 million Equity Raise to Kaya Group Joint Venture
NUGL Inc. Announces $20 million Equity Raise to Kaya Group Joint Venture.
About this update from Nugl, Inc.
[{"type":"text","content":"\n LOS ANGELES, CA , Oct. 05, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- NUGL Inc. (OTC: NUGL) (the “Company”), a search directory and multimedia platform for the cannabis industry, is pleased to announce it has completed the approval and publication of a Regulation A capital raise maximum in the amount of 20M USD. The capital raise will fund the joint growth strategy into the respective countries of operation for Kaya Group and NUGL Inc. The 2022 budget, which will be announced by year-end 2021, includes and is not limited to the USA, Jamaica, Caribbean, and Uruguay. The expansion consists of NUGL’s global technology and media launch and Kaya’s cannabis products entering the US market, debuting in California.  “We have slowly been introducing Kaya to the NUGL community with video, live interviews, and written articles in our digital magazine,” stated Ryan Bartlette, COO of NUGL. “We feel it is essential that Kaya is introduced organically to our community and our investors. Kaya is an amazing company that has built a fantastic brand with an even more incredible team, and we want our audience to hear Kaya’s story first-hand through NUGL’s media outlets.” After the merger, NUGL / Kaya will be a global, multifaceted company with diverse revenue streams. The combined resources and expanded international exchange will give the companies significant growth opportunities to complement one another. The companies’ combined ownership of multiple markets, retail locations, technologies, and distribution facilities, paired with solid backing and options to operate in numerous countries, will efficiently address the best fit for their combined long-term growth. Kaya is in the process of opening its 4th retail location located in Montego Bay. The spacey location includes a Café, Herb House cannabis store, a Higher Standards pop-up with a Vibes Rolling area complimented with a Square Grouper Bar and Pizzeria.  “We are very excited to be able to build out our footprint in countries like Cayman, Barbados, and the Bahamas in 2022 as more Caribbean countries decriminalize or legalize ganja”, stated Bali Vaswani Chairman and CEO of the Kaya Group. Both companies are committed to finalizing the merger in the coming weeks. About Ka...