Nhale, Inc. (NHLE) in Advanced Talks with Washington Grower
Today before the opening bell, Nhale reported it is in advanced talks with the company representative of a licensed Washington grower. This entity sought out Nhale as a prospective partner. The grower is in the midst of executing its first legal harvest within the state. It seeks to triple in size by 2015.
There are strong market opportunities within Washington for recreational marijuana. An article in Marijuana Business Daily had a poll in which 26% of Americans said they would purchase marijuana if recreational use in their state were legally permissible. Based on the poll statistics, Washington would potentially have a pool of 363,000 customer prospects, excluding out-of-state visitors. Additionally, The Marijuana Business Factbook projected as much as $500 million in potential sales in Washington, which could lead to $1 billion in sales as the market matured.
“Given the importance of Washington State to the legal marijuana industry, Nhale is highly interested in this grower and the potential this deal brings. The alliance could mean a strong entry into this market,” said Lance Williams, President and CEO of Nhale. “We are currently exploring the possible approaches to this opportunity to ensure it is the best arrangement for both parties and enhances value for Nhale stockholders.”
For more information, visit: www.nhaleinc.com/investors.html
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