PORTLAND, Ore., Nov. 22, 2016 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (KAYS) announced today that it has filed its third quarterly report for 2016, in which the Company details its financial results from operations, the licensing and build-out status of the two new Kaya Shack Marijuana Superstores currently under development, as well as discusses forward looking growth plans for the Company after legal marijuana's November 8 th ballot victory in 7 states. In a related announcement, KAYS tapped David Kotler, a former South Florida Prosecutor who has significant experience in the early stages of medical marijuana licensing in Florida, as well as extensive contacts nationwide in the cannabis industry. "KAYS' revenues for Q-3 2016 are up approximately 700% versus Q-3 2015, and revenues for the 9 month period ending September 30, 2016 are up approximately 700% versus same period ending Sept 30, 2015," stated Kaya Holdings CEO, Craig Frank. "We are maintaining the $1mm pace in sales for FYE 2016 to set as our target. We are proud that all our revenues are generated from the production and sale of legal cannabis, and not from tomato farming, consulting, or other non-cannabis related endeavors often used to bolster revenues". Further, in light of the recent electoral victories in the legal cannabis sector which are estimated to add over $7 billion in sales to the market by 2020, the Board has confirmed David Kotler to head our nationwide expansion team. Mr. Kotler is an attorney with extensive experience in the marijuana sector, with specific expertise in the coveted Florida market. With additional attractive states targeted for Company growth, management has elected to initiate construction of a broader and well-rounded executive team. "We feel it is time for us to launch our active exploration of opportunities beyond our continued expansion and growth in Oregon", stated Kaya Holdings CEO, Craig Frank. "David will be instrumental in assisting Kaya Holdings in navigating multi-state issues. Moreover, he is an extremely talented individual who can serve as the anchor for operations in Florida should the regulations be inviting", Frank continues.