Nugl Inc Stock Price, News & Analysis

Kaya Group has partnered with Rich and Ruthless to expand its brand of Jamaican roots herbs into California, a major market for cannabis. Rich and Ruthless has access to over 100 dispensaries, enhancing Kaya's distribution. In May 2022, Kaya reported sales of $200,868 with a positive EBITDA of $42,355, marking its second consecutive month of profitability. For the first five months of FY 2022, Kaya's revenues reached $941,871. This collaboration aims to leverage California's thriving cannabis market, which generated nearly $4 billion in tax revenue since 2018.

NUGL Inc. (OTC: NUGL) announced that Kaya Group reported preliminary revenues of $741,003 for the first four months of 2022. Kaya's unaudited revenues for April were $215,341, with an adjusted EBITDA of $47,534. For FY 2021, Kaya had gross revenues of $2.2 million and a gross margin of 61%. Following NUGL's acquisition of Kaya in April 2022, both companies aim to expand their market presence. Kaya, a leader in Jamaica's legal cannabis sector, plans to leverage NUGL's network for further growth.

NUGL Inc. (OTC: NUGL) has announced an extension of its broadcasting agreement with Arnold "Bigg A" White and Eric "Lil Eazy-E" Wright from Rich & Ruthless for NUGL TV. The biweekly program will explore cannabis culture through music, fashion, and product reviews, alongside celebrity interviews. NUGL recently acquired Kaya Herb House, enhancing opportunities to promote the Kaya brand. The partnership aims to leverage Rich & Ruthless’s audience, contributing to NUGL's growth strategy in the cannabis lifestyle and entertainment sector.

NUGL Inc. (OTC: NUGL) has completed its acquisition of Kaya, Inc. in an all-stock deal, enhancing its brand portfolio and expanding into key markets. Bali Vaswani from Kaya will take over as CEO, while CJ Melone remains COO, targeting retail locations in the U.S. and Caribbean. Kaya, known for its pioneering medical cannabis operations in Jamaica, adds a licensed cultivation and processing facility, bolstering NUGL's market presence. The combined company anticipates significant revenue growth, leveraging Kaya's established footprint in the burgeoning cannabis sector.

NUGL Inc. (US OTC: NUGL) has announced a definitive acquisition agreement to purchase Kaya LLC, a leading Jamaican vertically integrated cannabis company. The expected completion of this transaction on or before March 30, 2022, will rename NUGL to 'Kaya Group, Inc.' This acquisition aims to leverage Kaya's operations and unique Wellness Ecosystem, facilitating access to capital markets for accelerated growth. Post-transaction, approximately 816 million NUGL shares will be issued to Kaya shareholders, with NUGL holding 49% of voting equity and 100% of economic interests in Kaya.

NUGL Inc. (OTC: NUGL) has announced the re-launch of NUGL Magazine alongside the Kushstock Festival in December 2021. This initiative is part of a broader strategy to enhance marketing opportunities within the cannabis sector. The newly launched Kushstock Magazine will provide digital, print, and video content for cannabis vendors and professionals, aiming to extend their market reach. Additionally, NUGL has introduced NUGL TV, a video streaming platform, to offer uncensored content. The organization aims to complete its acquisition of Kaya Group this month, further expanding its operations.

NUGL has successfully completed a Regulation A capital raise of 20 million USD. This funding aims to support the joint growth strategy with Kaya Group across the USA, Jamaica, Caribbean, and Uruguay. The companies plan to launch global technology and media initiatives while introducing Kaya's cannabis products to the US market, starting in California. Kaya is expanding with a new retail location in Montego Bay and aims to reach more Caribbean countries as they legalize cannabis. The merger is expected to finalize soon, creating significant growth opportunities.

NUGL Inc. (OTC: NUGL) has announced a joint venture with Kaya Group, Jamaica's leading medical cannabis company, to share intellectual property as a precursor to a proposed merger. NUGL will issue $400,000 in convertible notes for this venture, allowing both companies to leverage each other's assets. The merger aims to enhance international growth opportunities in the expanding cannabis market. The transaction requires approval from the Jamaican Cannabis Licensing Authority and remains subject to customary closing conditions. NUGL's CEO emphasizes the potential for brand enhancement and shareholder value.