Werbe
2週前
Cannabis company NUGL Inc, which operates locally under the Kaya brand, is moving to expand into delivery services in Jamaica after a regulatory change now allows authorised cannabis retailers to deliver to clients and caregivers for the first time.
"We believe Jamaica's regulated cannabis industry remains in the early stages of long-term growth and market formalisation," CEO Balram Vaswani said.
The company disclosed in its March 2026 quarterly report that it has been advancing its delivery infrastructure and operational rollout plans across Jamaica, with a focus on expanding customer accessibility and improving delivery efficiency across key operating markets.
"The introduction of Kaya's off-site delivery creates a direct and actionable pathway to expand our addressable market," Vaswani said. "These delivery capabilities improve customer accessibility, particularly for customers with limited transportation access, while creating new opportunities for incremental revenue growth and stronger brand loyalty."
Kaya wants to leverage a regulatory change gazetted and launched under the Cannabis Licensing Authority's Medical Cannabis Special Permit Programme, which for the first time allows authorised retailers to deliver cannabis to clients. The broader reforms also introduce new permit categories for traditional farmers, standardise licence tenure at three years, and create identification cards for cannabis industry workers.
CLA CEO Farrah Blake, speaking at the April 16 launch of the programme at the AC Hotel by Marriott, Kingston, said the delivery change specifically allows retailers "to be able to make their delivery of cannabis to their clients," adding that it "increases market access and better facilitates brand loyalty to retail authorisation holders. It allows clients to receive their cannabis in the event that there's a difficulty, physical or otherwise."
The development comes as NUGL reported improved operating performance for the first quarter ended March 2026. The company generated revenue of some US$852,000, a 13.4 per cent increase over the prior year, with gross profit rising to US$461,218, according to the unaudited quarterly report.
Vaswani said the first-quarter results reflect continued operational improvement across the business, including expanded gross profit, increased cultivation capacity, and growing customer traffic across its retail network.
"With continued regulatory progress, expanding tourism activity, and the advancement of delivery capabilities, we believe Kaya is uniquely positioned to strengthen its market presence, expand customer accessibility, and continue building one of the leading vertically integrated cannabis platforms in the Caribbean," he said.
Despite reporting operating income of US$23,136, the company posted a net loss of roughly US$96,440 for the quarter after financing and non-cash charges.
NUGL, which merged with Kaya in 2022, operates an integrated cannabis business spanning cultivation, processing and retail herb houses in Kingston, Falmouth, St Ann and Ocho Rios. The new delivery framework allows the company to extend its reach beyond those physical locations.
Kaya is one of the few Jamaican companies with publicly traded stock in the United States, listed on OTC Markets under the ticker NUGL.
The company continues to rebuild operations affected by Hurricane Melissa, which the quarterly report says will likely increase short-term capital requirements due to infrastructure repair and operational recovery.
https://jamaica-gleaner.com/article/business/20260522/kaya-moves-cannabis-delivery-market
Werbe
4週前
Impressive how they gained on prior years first quarters numbers even with a hurricane setback.
KINGSTON, Jamaica and LOS ANGELES, May 15, 2026 (GLOBE NEWSWIRE) -- NUGL, Inc. (OTC: NUGL) ("NUGL" or the "Company"), operator of the KAYA cannabis brand in Jamaica, today reported financial results for the first quarter ended March 31, 2026, highlighting continued revenue growth, positive operating income, increased cash on hand, and ongoing advancement of the Company's vertically integrated cannabis and lifestyle operations.
For the three months ended March 31, 2026, the Company generated revenue of US$851,939, representing an increase of 13.4% compared to revenue of US$751,048 for the same period in 2025. Gross profit increased 9.1% to US$461,218, compared to US$422,724 in Q1 2025.
The Company reported positive operating income of US$23,136 for Q1 2026, compared to US$21,268 during the prior-year period, reflecting continued operational discipline, increased cultivation capacity, stronger customer traffic, and improved performance across retail and hospitality operations.
Cash on hand increased to US$136,522 as of March 31, 2026, compared to US$121,554 as of December 31, 2025.
Werbe
1月前
Missed this tweet from NUGL. Awesome platform theyre building out.
Beta is live! 🚀
We’re excited to release the beta version of https://t.co/OFyTb88o0b, our new digital platform built to explore cannabis, wellness, AI, markets, and emerging industry intelligence.
Visit, interact, test the platform, and let us know your feedback as we continue…— NUGL (@NUGLmedia) April 27, 2026
Werbe
2月前
Nice article on NUGL. Should be a great year for NUGL with them expecting full cultivation capacity by end of first quarter 2026. I can see them really starting to push out some attention here.
Ganja company NUGL, which trades as Kaya, reported higher revenues and also narrowed its losses for its financial year despite disruptions from Hurricane Melissa.
Kaya, which trades on the Over-the-Counter Market for small firms in the United States, gives insight into the locally regulated cannabis sector. Kaya, owned and operated by Jamaicans, made US$3.45 million (J$550 million) in annual revenue during 2025, 16 per cent higher than a year earlier. The company, however, recorded a US$48,400 loss for its December year end, a marked improvement from the loss of US$212,000 a year earlier.
“Hurricane Melissa affected several Kaya group facilities across cultivation, retail, and hospitality operations. While the storm caused material physical damage, the company has made measurable progress towards stabilization and recovery,” stated Kaya CEO and founder Balram Vaswani in the financials about the hurricane that hit the island last October.
The Cannabis Licensing Authority has issued 166 licenses up to December 2024, according to the latest data on its website. Kaya is a first mover, and among the largest licensees as it operates a cultivation farm, processing facility, and four herb houses, which are legal dispensaries.
Since the passage of the hurricane, the company started reconstructing six of seven greenhouses while also clearing debris. It “continues to operate using existing reserves of cannabis, extracts, and mushroom inventory.” It holds sufficient inventory to also supply “all” its third-party supply arrangements with affiliated and independent herb houses.
“Management expects full restoration of cultivation capacity in the first quarter of 2026,” stated the report.
Its Falmouth retail herb house was the hardest hit. The location sustained roof, structural, and equipment damage due to proximity to the storm’s eyewall, “resulting in a temporary suspension of operations”, but reopened in December.
Kaya has struggled to make a profit since it opened its first herb house in Drax Hall, St Ann, in 2018. The company has generated “cumulative gross revenue of some US$17.1 million” from 2018 to 2025 but recorded an accumulated deficit of US$8.8 million up to 2025. The losses raise questions about its ability to continue “as a going concern” in theory, but its operations show a company that is growing its capital, which stood at US$1.82 million in 2025 compared to US$1.74 million a year earlier.
NUGL, which operates a marketing site for cannabis, and Kaya reverse merged in April 2022 to form an enlarged cannabis lifestyle company. NUGL operates five subsidiaries, with the operations of the Kaya brand being its mainstay. The Kaya brand runs herb houses in Kingston, Falmouth, Drax Hall (St Ann), and the town center in Ocho Rios. It also operates The Gap Café, a bed and breakfast located in the Blue Mountains.
https://jamaica-gleaner.com/article/business/20260405/kaya-posts-j550m-sales-ganja-mushrooms-and-pizza-2025