HOUSTON, TX--(Marketwired - Dec 4, 2014) - Nhale, Inc. (OTCQB: NHLE) announces it is in discussions to execute a $10 million equity finance arrangement with a Toronto-based private investment group focused on the legal marijuana industry. The agreement will frame a deal to inject capital for the acquisition of cultivation and production operations where marijuana can be grown legally.
Nhale is in the process of evaluating possible acquisitions in Washington and Canada, and recently executed a Letter of Intent to assess a prospective Oregon grower. This effort is in accordance with Nhale's mission to acquire companies with valid business models in the legitimate cannabis industry.
"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," said Lance Williams, Nhale President and CEO, commenting on the prospective agreement. He added, "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."
WIlliams has been in talks with another company that approached Nhale to collaborate on a planned recreational marijuana cultivation and production facility that projects revenues exceeding $21 million in the first two years of operation. The company seeking collaboration with Nhale brings extensive prior experience in the legal cultivation and retailing of medical marijuana and has the depth of skills needed to create superior, sought-after strains of cannabis in the marketplace.
"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," said Williams.
About Nhale, Inc. (OTCQB: NHLE)
Nhale™ is a U.S. company actively pursuing acquisition opportunities in the rapidly expanding marijuana industry. Nhale acquires companies with proven business models positioned to make a significant impact within the medical and recreational cannabis market. NHLE brings operating talent, tools and leadership to emerging companies in the space, promoting industry awareness and developing economically sustainable partnerships while increasing shareholder value.
For further information visit http://nhaleinc.com/investors.html
Forward-Looking Statements
Certain information provided in this press release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. You can find a discussion of those risks and uncertainties in our EDGAR securities filings with the Securities and Exchange Commission. Such factors include, but are not limited to: general economic, market and business conditions; fluctuations in the marijuana market; the results of product development and the result of our efforts to develop strategic relationships, partnerships and potential acquisitions that are in line with our business model; outcome of partnership negotiations; the uncertainty of market estimates; changes in environmental and other regulations; risks associated with retail operations; and other factors, many of which are beyond the control of the Company. There is no representation by Nhale that actual results achieved during the forecast period will be the same in whole or in part as those forecast. Except as may be required by applicable securities laws, Nhale assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.