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KINGSTON, Jamaica and LOS ANGELES, CA — April 17, 2026 (OTC News & Disclosure Service) NUGL, Inc. (OTC: NUGL) (“NUGL” or the “Company”), operator of the KAYA cannabis brand in Jamaica, reported its financial results for the fiscal year ended December 31, 2025, demonstrating a return to operating profitability, expanding margins, and immediate strategic positioning following recent regulatory developments enabling off-site delivery.
In FY2025, the Company generated approximately US$3.45 million in revenue, representing a 16% year-over-year increase, while reducing its net loss to approximately US$48,400, compared to US$212,000 in the prior year. The Company also achieved an improvement in operating income of more than 140%, reflecting meaningful progress toward sustained profitability.
These results were driven by disciplined cost management, improved efficiencies across retail and processing operations, increased cultivation capacity, and stronger customer traffic across our locations. The Company also continues to invest in digital capabilities and data-driven initiatives to support long-term growth and enhance its integrated operating model.
On April 16, 2026, the Cannabis Licensing Authority announced a series of regulatory enhancements gazetted on March 6, 2026 under the amended licensing framework, including:
● Authorization for licensed retailers to deliver cannabis directly to customers under defined compliance conditions
● Introduction of special permit programmes enabling small-scale and community cultivators to participate in the regulated industry
● Standardization of licence tenure and extension processes, allowing for greater operational continuity and improved business planning
These reforms reflect the Government’s continued commitment to expanding and formalizing Jamaica’s regulated cannabis sector, while improving access, reducing barriers to entry, and strengthening Jamaica’s position in the global cannabis market.
The introduction of delivery capabilities, in particular, is expected to enhance customer accessibility, support brand loyalty, and create new revenue opportunities for licensed operators. It also provides greater convenience for customers, particularly those with limited access to transportation, further expanding the reach of the regulated market.
NUGL is actively moving to capitalize on the newly approved off-site delivery framework, which enables immediate expansion of its addressable market and enhances customer accessibility across Jamaica.
“The introduction of off-site delivery creates a direct and actionable pathway to expand our addressable market. We are moving quickly to implement delivery capabilities that can drive incremental revenue and improve customer access by use of odor-proof, tamper-evident, and child proof packaging to protect your privacy.”
— Bali Vaswani, CEO, NUGL, Inc.
Operational Resilience and Performance
During the fourth quarter of 2025, Hurricane Melissa caused material damage to several of the Company’s cultivation, retail, and wellness facility. Despite these challenges, NUGL maintained business continuity and executed rapid recovery initiatives across affected locations.
“We achieved positive operating income and expanded margins despite a major hurricane, demonstrating the resilience and scalability of Kaya’s local vertically integrated model.”
— Balram Vaswani, CEO, NUGL, Inc.
Management believes these results validate NUGL’s long-term strategy expanding on Kaya’s fully vertically integrated cannabis ecosystem under the Kaya brand, combining cultivation, processing, retail dispensaries, tours and wellness offerings.
This integrated approach enables:
● Greater control over product quality and supply chain
● Improved margin capture across multiple business segments
● Diversified revenue streams supporting operational stability
KAYA currently operates licensed retail locations, cultivation and processing facilities, and complementary lifestyle experiences, positioning the Company as one of the leading vertically integrated cannabis operators in Jamaica.
Liquidity and Strategic Positioning
NUGL ended the year with a positive cash position, reflecting improved financial management and operational performance.
The Company continues to evaluate strategic initiatives, including potential acquisitions and disciplined capital allocation strategies, to further strengthen its balance sheet and support future growth.
Kaya remains focused on delivering sustainable, profitable growth by building on its leadership in Jamaica’s regulated cannabis market. The Company expects continued growth driven by increasing international acceptance, particularly among tourists, and the ongoing shift of demand from the illicit market to the regulated sector.
While macroeconomic and industry-specific challenges remain, management believes the Company is well-positioned to navigate ongoing market conditions.
Looking ahead, NUGL will focus on:
● Advancing the NUGL Delivery App, AI Business Hub, a proprietary platform integrating real-time news, market intelligence, crypto tracking, and global cannabis and emerging sector discovery
● Expanding retail and brand presence across Jamaica
● Enhancing product offerings and customer experience
● Scaling high-margin segments, including hospitality and branded products
“We have built a strong foundation across our cultivation, processing, retail, and wellness operations, and are now entering the next phase of growth. The Jamaican cannabis industry is evolving toward broader consumer access and new product categories, while global markets, including the United States, continue to advance regulatory reform. With the introduction of off-site delivery, we are positioned to scale efficiently, expand customer access, and drive incremental revenue. Our vertically integrated Kaya model and disciplined approach position us to deliver sustained profitability and long-term shareholder value.”
— Balram Vaswani, CEO, NUGL, Inc.
NUGL is a global discovery and analytics platform for cannabis brands, dispensaries, psychedelics research, cryptocurrency tracking, and AI-powered news. Through Kaya Group, Jamaica’s first legal herb house and vertically integrated cannabis company, NUGL operates licensed retail locations, cultivation and processing facilities, wellness destinations, pizzeria, bar and lifestyle partnerships including TYSON 2.0.
For more information, visit kayaherbhouse.com or follow KAYA on social media @kaya.inc.
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor a solicitation of any vote or approval with respect to the proposed transaction or otherwise. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.
This press release contains “forward-looking statements”. Forward-looking statements also may be included in other publicly available documents issued by NUGL and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “would,” “could,” “will” and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause NUGL’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for NUGL’s products and services, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with OTC Markets and the Securities and Exchange Commission from time to time
Name: Leonardo Sammarco
Tel: 876-627-9333
Email: ir@nugl.com
