Nhale Inc. (NHLE) in Talks with Oregon Cannabis Grower as Election Day Approaches
Nhale announced it is in discussions with an Oregon-based, private company with marijuana production capabilities. The intent is to grow cannabis should the state legalize recreational marijuana in tomorrow’s election on November 4th. The company under consideration plans to apply for a permit from the state to begin operations on a 20-acre parcel in western Oregon. This venture aligns with NHLE’s goal to acquire revenue-generating assets in the legal cannabis industry.
Measure 91, The Oregon Legalized Marijuana Initiative, is on the November 4, 2014 ballot as an initiated state statute. If approved by voters, the measure will legalize recreational marijuana for people ages 21 and older thus allowing adults over this age to have up to eight ounces of “dried” marijuana and up to four plants.
In Oregon, data shows 14.5 percent of the state’s population uses marijuana, compared to about 10.8 percent of Americans. These figures give Oregon one of the highest rates of marijuana use in the U.S. Oregon also has one of the oldest medical marijuana programs in the US, established in 1998, just two years after the first was created in California. State economists estimate Oregon will gain between $17.5 and $25.9 million in tax revenues in the first years of legalization with one fifth of the consumption expected to come from tourists.
Lance Williams, President and Chief Executive Officer of Nhale, said, “We have been carefully investigating prospects in the marijuana industry. With legalization taking place in multiple markets, we are seeking experienced, proven collaborators in this expanding and highly profitable space.”
Currently legal for medical or recreational purposes in 23 states, data suggests marijuana could become legal nationwide in some capacity in a few years. In an interview with the Huffington Post, Rep. Earl Blumenauer (D-Ore.) said, “I think it’s game over in less than five years,” referring to the downward trend of legal prohibitions of cannabis in the U.S.
Nhale™ is a technology company whose mission is to be the premier legal cannabis industry innovator, promoting industry awareness and developing economically sustainable partnerships while increasing shareholder value.
For more information, visit www.nhaleinc.com
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