Major cannabis company Kaya Holdings Inc. -aka KAYS- (OTCQB:KAYS) is launching psychedelic-assisted therapy, Fifth Dimension Therapeutics (FDT) for the treatment of PTSD, addictions, eating disorders and other treatment-resistant mental health disorders.
What Happened
A senior employee of KAYS’, Bryan Arnold, enrolled in a training course to obtain an Oregon psilocybin facilitator’s license that will allow him to legally oversee the cultivation of psilocybin mushrooms and related products as well as operate up to five state-licensed psilocybin administration clinics.
KAYS is moving into psychedelics therapy by adding experienced attorney Glenn E.J. Murphy to FDT’s board of directors in order to establish relations with pharmaceutical companies, develop IP and joint ventures, funding opportunities and acquisitions.
KAYS senior advisor W. David Jones said that operating a psychedelics treatment establishment “has many parallels to the cannabis industry,” adding that KAYS “is among the companies uniquely qualified to deliver the highest quality of care” to patients in need.
CEO Craig Frank further also commented: “We have effectively shifted our cannabis operations toward the European market where we believe a substantial market exists without the same regulatory burdens of the fragmented and nationally stymied U.S market. By bringing all we have learned from our cannabis operations to the psychedelics market, I believe we have an excellent opportunity to secure a leadership role in the ‘mind care’ market.”
More On KAYS’ Business Structure
Kaya Holdings involves four majority-owned subsidiaries in both the cannabis and psychedelic industries.
-
Newly-added Fifth Dimension Therapeutics operates mushroom cultivation facilities, in-facility treatment centers and at-home treatment programs.
-
Licensed medical and recreational marijuana stores brand Kaya Shack and U.S.-based cannabis production and processing operations brand Kaya Farms, both owned by Marijuana Holdings Americas Inc.
-
Non-U.S. Kaya Brands International Inc. includes cultivation in Greece and Israel.
-
Kaya Brands USA Inc. owns a range of new brands of cannabis extracts, oils, pre-rolls, topicals, edibles and beverages, cannaceuticals and related accessories.
-
Photo: Benzinga edit with photo by pdsci on Shutterstock and Wikimedia Commons.
