Nhale Inc. (NHLE) Announces $10 Million Financing Commitment Nhale Inc. (NHLE) Announces $10 Million Financing Commitment
Today after the closing bell, Nhale reported the execution of a term sheet for $10 million in debt financing with Four Twenty Investments, Inc., a Toronto-based private investment group focused on the financing and strategic investments of medical marijuana and similar companies involved in the cannabis industry.
According to the release, Nhale will use this financing to finalize its planned acquisitions of revenue-generating marijuana operations. The company is currently negotiating acquisitions of legal marijuana operations in Washington State, Oregon and Colorado.
“Our relationship with Four Twenty Investments strengthens our position to acquire capable businesses and the brightest talent, and allow Nhale to gain market share within the legal marijuana industry,” stated Lance Williams, President and CEO of Nhale. He added, “This $10 million commitment allows us to deliver on our previously disclosed acquisition strategy beginning in the first quarter of 2015.”
Nhale believes the culmination of the acquisitions currently being negotiated could lead to revenues exceeding $30 million next year. The companies being targeted for acquisition each bring extensive prior experience in the legal cultivation and retailing of medical marijuana, and each as the depth of skills needed to help Nhale become the premier provider of legal cannabis to the marketplace.
For more information, visit www.nhaleinc.com/investors.html
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