Nhale, Inc. (NHLE) Joins Private Toronto Group in Equity Finance Talks Centered on Legal Marijuana Industry
Nhale has announced it is in discussions with a Toronto-based private investment group to execute a $10 million equity finance arrangement focused on the legal marijuana industry. The agreement puts structure to a deal that is designed to invest capital for acquisition and production operations needed for legally growing marijuana.
Currently exploring acquisition targets in the state of Washington and Canada, NHLE also has recently executed a Letter of Intent to audit the potential upside of a prospective grower based in Oregon. The process runs in line with the company’s mission to acquire commercial properties with sound business strategies in the legal cannabis industry.
Lance Williams, Nhale President and Chief Executive Officer, said of the prospective agreement, “Having this reserve of funds available will fuel Nhale’s ability to acquire the best and brightest enterprises as we solidify our leadership position in the industry.” He also noted, “The group’s commitment to the legal cannabis industry is unparalleled and we are pleased they share Nhale’s vision for strengthening the legal marijuana supply chain.”
Running concurrent with the company’s pursuit of acquisition targets, Mr. WIlliams has also been in talks with another company that approached Nhale to collaborate on a planned recreational marijuana cultivation and production facility. Revenues at this property are projected to exceed $21M within 24 months of commencing operations. The company is looking for Nhale’s industry insight and guidance with respect to the legal cultivation and retailing of medical marijuana while leveraging its knowhow vital for developing quality cannabis strains to fill marketplace demand.
Mr. Williams added, “The discussions are still ongoing, however we are very encouraged by the strength this group adds to the deal value and we look forward to concluding negotiations in the very near future.”
Nhale is a U.S. company active in its pursuit of opportunities in the rapidly expanding marijuana industry. Nhale focuses on acquiring companies with proven business models positioned to make a significant impact within the medical and recreational cannabis market. The company brings operating talent, tools and leadership to emerging companies in the space, promoting industry awareness and developing economically sustainable partnerships while aiming to increase shareholder value.
For more information on the company visit www.nhaleinc.com/investors.html
Please see disclaimer on the QualityStocks website: https://Disclaimer.QualityStocks.com