Nhale Inc. (NHLE) in Acquisition Mode for Building Shareholder Value in Emerging Cannabis Space
Nhale will continue looking for acquisition targets in legalized marijuana states and currently is reviewing grow operations in the state of Washington, as acreage earmarked for growing could increase, the company’s President and CEO Lance Williams said today.
Washington State potentially could quadruple the amount of land for growing legal marijuana, as the state Liquor Control Board considers changes to its marijuana regulations associated with recreational use. One of these rules would expand the allowable land for legal marijuana to 8.5 million square feet. This figure represents an increase up from the 2 million square feet limit established when the system was established in 2013.
Two months after the first recreational marijuana retail stores opened in Washington, sales are noticeably trending upward and subsequently boosting tax revenue streams for the state, according to a Fortune article. The article also acknowledges more and more marijuana shops are opening across the state.
Mr. Williams went on to say, “Escalating sales of legal marijuana and the associated tax benefits for Washington are positive indicators for the industry. This month’s harvest and the expansion of pot-growing acreage will ease inventory problems as the state’s 68 licensed retail shops resolve supply chain issues and begin meeting the demand for legal product.”
NHLE is looking into acquisitions in other legal states. In late October 2014, the company entered into a Letter of Intent with a company in Oregon and recently established a subsidiary in that state with the intent to produce legal marijuana. The company under consideration intends to apply for a permit from the state to begin operations on up to 20 acres of land in western Oregon.
Nhale™ is a company with business activities focused on acquiring opportunities in the emerging marijuana industry. Nhale’s strategy is to acquire companies with proven business models positioned to make a significant impact within the medical and recreational cannabis market. The company promotes industry awareness and developing economically sustainable partnerships in its mission to raise shareholder value.
For more information on the company visit www.nhaleinc.com/investors.html
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