Kaya Extracts to target the multibillion-dollar industry for the development, marketing and distribution of psilocybin mushrooms
KINGSTON, Jamaica and LOS ANGELES, Jan. 11, 2023 (GLOBE NEWSWIRE) — Kaya Group (“Kaya” or “the Company”) (OTC: NUGL), the first medicinal Ganja herb house in the Caribbean and holistic, wellness-focused ecosystem, announced today its Kaya Extracts subsidiary plans to enter the legal psilocybin market in Jamaica where the laws are relaxed, targeting the multibillion-dollar industry for the development, marketing and distribution of psilocybin mushrooms. This will include Kaya’s current rollout of traditional Jamaica Psilocybin Mushroom and Capsules at its Herbhouse locations in Falmouth, Ocho Rios, and Kingston. The company continues to roll out further across Jamaica as demands continue to build for the product. The first milestone includes developing and launching our nutraceuticals’ range of psilocybin concentrations from micro-doses to hallucinogenic levels of dosing.
Psilocybin, a naturally occurring psychedelic compound found in certain mushrooms, has gained increasing attention for its potential to treat various mental health conditions, including depression, anxiety, and addiction. As a leader in the plant-based wellness industry, Kaya is committed to providing high-quality, responsibly sourced psilocybin products.
Mushrooms containing the psychoactive compound psilocybin remain illegal in most parts of Europe and the United States. Currently, there are no regulations in Jamaica prohibiting the use of psilocybin. Jamaica’s government has never outlawed the hallucinogenic fungus and is now cultivating investors to build up its psychedelics industry, which according to one estimate, could be worth $8 billion globally by 2028.
Jamaica now has at least four psilocybin-focused resorts, three of which opened recently as the government has warmed to psychedelics and encouraged private investment in the sector.