SOURCE: Nhale Inc.

Nhale Inc.

November 18, 2014 16:01 ET

Nhale (NHLE) Nearing Conclusive Agreement With Prospective Oregon Grower

HOUSTON, TX--(Marketwired - Nov 18, 2014) - As a result of recently received additional due diligence information, Nhale Inc. (OTCQB: NHLE) today announced it is nearing a conclusive agreement with a prospective Oregon marijuana grower. The grow facility is projected to gross approximately $8.8 million in revenues during its first year of operation and is anticipated to triple in size each year afterward.

Following positive initial due diligence performed on the prospective Oregon grower, Nhale has established a subsidiary in the state for the purpose of growing and distributing legal marijuana as it considers the collaboration. 

"We are very encouraged by the prospect of collaborating in Oregon, and we are confident that the talent, resources and skills we bring to the table will be the ideal complement for this project. We are committed to operating with the highest level of integrity as we grow along with the market in this progressive state," said Lance Williams, President and CEO of Nhale.

Oregonians voted 55 percent to 45 percent this month to legalize recreational sales and consumption of marijuana for people 21 years of age and older. In 2013, the Oregon legislature approved medical marijuana dispensaries and the state is home to one of the oldest medical cannabis programs in the country, established in 1998. According to the Humboldt Journal of Social Relations published by Oregon State University, the state has one of the highest rates of marijuana use in the country at 14.09 percent compared with the average U.S. rate of 10.2 percent.

On October 31, Nhale Inc. entered into a Letter of Intent with the private Oregon-based company. 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. This venture is in accordance with Nhale's mission to acquire companies with valid 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 valid 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