Nhale, Inc. (NHLE) Approaches Final Agreement with Oregon-ba Nhale, Inc. (NHLE) Approaches Final Agreement with Oregon-based Acquisition Target
U.S.-based Nhale, Inc. seeks to acquire companies with valid business models in the legal cannabis industry. On par with this growth strategy, and as a result of recently received additional due diligence, Nhale is nearing a conclusive agreement with a prospective Oregon marijuana grower. The grow facility is projected to gross approximately $8.8 million in revenues during its first year of operation and is anticipated to triple in size each year thereafter.
As it considers the collaboration, Nhale says it has established a subsidiary in the state of Oregon for the purpose of growing and distributing legal marijuana. The location of the subsidiary is significant, considering Oregonians earlier this month voted 45-55% to legalize recreational sales and consumption of marijuana for people 21 years of age and older.
The State of Oregon is home to one of the country’s oldest medical cannabis programs, which was established in 1998. In 2013, the Oregon legislature approved medical marijuana dispensaries. Today, Oregon has one of the highest rates of marijuana use in the country at 14.09%, exceeding the average U.S. rate of 10.2% (Humboldt Journal of Social Relations, Oregon State University).
“We are very encouraged by the prospect of collaborating in Oregon, and we are confident that the talent, resources and skills we bring to the table will be the ideal complement for this project. We are committed to operating with the highest level of integrity as we grow along with the market in this progressive state,” said Lance Williams, President and CEO of Nhale.
On October 31, Nhale entered into a Letter of Intent with the private Oregon-based company, which intends to apply for a permit from the state to begin operations on up to 20 acres of land in western Oregon.
For more information visit www.nhaleinc.com/investors.html
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