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Jamaica: Kaya Aiming For Seven Ganja Stores – TSX Listing Pushed Back To September

Kaya Inc will open a second medical ganja cafe in Falmouth next month, around the same time it expects to become a publicly listed company trading on the Toronto Stock Exchange, the TSX.

The Jamaican outfit founded by businessman and ganja researcher Balram Vaswani has already taken on a Canadian partner, which has promised backing for the company.

Kaya, which launched its first cafe and dispensary in Ocho Rios in March – becoming the first to market in the process – aims to grow to seven cafes within two years.

The first cafe, plus a ganja farm to supply it, cost $76 million. The second store is a $19 million investment in Falmouth, where the company aims to leverage business from the tourists that pass through the popular cruise port there. That and future dispensaries will also be fed by the St Ann farm.

Vaswani said the Falmouth store should open for business on September 29. The other five are being considered for Negril, Kingston, Portmore, Port Antonio and Port Royal.

Vaswani said Kingston could be the next location for a cafe, saying: “It’s pretty likely, but it is not set in stone.”

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