Kaya Holdings Inc. (OTCQB:KAYSD) agreed to buy a 50% interest in Athens, Greece-based Greekkannabis SA.
Through its subsidiary, Kaya Brands International Inc., the company initially acquired a 25% interest in Greekkannabis via a share transfer deal with current Greekkannabis shareholders on Jan. 11.
The remaining 25% interest is being issued to Kaya Brands in exchange for a minor compensation.
Greekkannabis is a cannabis company with a license to build a facility covering around 225,000 square feet of cannabis cultivation and 80,000 square feet of cannabis processing on a 15-acre property in Thebes.
Fort Lauderdale, Florida-based Kaya noted that this business move is “the cornerstone of KAYS planned Kaya Kannabis project” with the goal of setting up a base to reach the medical cannabis market from Greece, which is an EU member.