Kaya Group (OTCPK:NUGL) has entered into a collaboration agreement with Rich and Ruthless to launch its brand, Jamaican roots herbs in the California market.
Sales of Jamaican roots herbs in the California market will add to the growing sales numbers of Kaya Inc. and NUGL. For the month of May, Kaya Group posted $200,868 in sales and had positive EBITDA of $42,355, which marked the company's second month of positive EBITDA this fiscal year. For the first five months of Fiscal 2022, which include January through May, Kaya, Inc. had unaudited revenues of $941,871 and adjusted EBITDA of -$61,920. For the fiscal year ending December 31, 2021, Kaya posted unaudited gross revenues of $2.2 million, with gross margins of 61%. adjusted EBITDA for Fiscal 2021 showed a small loss of -$71,000.
Under the terms of the agreement, Kaya Group has granted Rich and Ruthless the exclusive right to promote, market, distribute and sell the Kaya Brands to retailers for resale in California. The extensive distribution network developed by Rich and Ruthless will continue growing Kaya Group's product portfolio in the largest adult-use market in the country.
Bali Vaswani, CEO of NUGL and founder of Kaya, stated, “The Kaya brand is much more than just a name on a box. Anyone who has been to one of our world-class facilities in Jamaica knows Kaya represents thousands of years of healing bodies and minds around the world. Kaya is based on a centerpiece of culture, a tool used to improve society holistically, from the economy to spirituality, it is a way for us to unite as a people.”
Photo by Cytonn Photography on Unsplash
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