SOURCE: Nhale, Inc.

Nhale, Inc.

November 24, 2014 08:30 ET

Nhale (NHLE) Considers Acquisitions in Washington as Pot Acreage on Pace to Quadruple

HOUSTON, TX--(Marketwired - Nov 24, 2014) - Nhale Inc. (OTCQB: NHLE) continues seeking acquisition targets in legal states and currently is evaluating grow operations in Washington State, as allowable pot acreage there could increase, the company's President and CEO Lance Williams said today.

Washington State may soon more than quadruple the amount of land where legal marijuana can be grown, as the state Liquor Control Board considers changes to its recreational marijuana regulations. One of these rules would expand the allowable land for legal marijuana to 8.5 million square feet, up from the 2-million-square-foot limit established when the system was set up last year.

The increase may take place as early as January of next year. According to The Spokesman-Review, legal marijuana supply issues have been common since the first stores opened this July, but those could ease at the end of this month when outdoor growers harvest their crops.

Two months after the first recreational marijuana retail stores opened in Washington, sales are flying high and growing, providing an increasing stream of tax revenue for the state, according to an article in Fortune. The article goes on to state that more marijuana shops are opening across the state.

"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," said Williams.

Nhale is considering acquisitions in other legal states. On October 31, Nhale Inc. entered into a Letter of Intent with an Oregon-based company and recently formed a subsidiary in that state for the purpose of producing 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. It projects approximately $8.8 million in revenues during its first year of operation. This project is in accordance with Nhale's mission to acquire companies with proven business models in the legal cannabis industry.

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.

Contact Information

  • Contact
    Nhale, Inc.
    Lance Williams
    President and CEO
    281-671-6877