Nugl Inc. Closes Acquisition Of Kaya Llc, One Of Jamaica’S Leading, Vertically Integrated Medical Cannabis Companies

NUGL Inc. (“NUGL”) (OTC: NUGL), a cannabis-focused, technology-based multimedia platform, announced today it has completed the previously announced acquisition of Kaya, Inc. (“Kaya”) in an all-stock transaction. Kaya shareholders received restricted shares of NUGL, Inc., which were issued pursuant to an exemption from registration provided by Section 4(2) of the Securities Act of 1933 as “Restricted Securities.” The Company has appointed Bali Vaswani, Chairman and CEO of Kaya, as its CEO. CJ Melone, CEO of NUGL Inc., was appointed Chief Operating Officer of the combined companies, with a responsibility to build out the Kaya brand through established partnerships in key markets. NUGL, Inc. is expected to change its name to “Kaya Group Inc.