SOURCE: Nhale Inc.

Nhale Inc.

December 08, 2014 08:30 ET

Nhale (NHLE) Submits LOI to Washington Marijuana Producer Following Financial Review

HOUSTON, TX--(Marketwired - Dec 8, 2014) - Nhale Inc. (OTCQB: NHLE) today announced it has delivered a letter of intent (LOI) to a profitable outdoor marijuana grower in Washington state. The grower is a licensed producer helping supply an exploding demand for legal pot in that state since retail recreational marijuana stores opened for business this July.

The grower, along with other legal marijuana producers, now has brought in autumn's eagerly awaited first outdoor harvest, resulting in more than double the revenue figures from August. Retailers are excited to see the product begin to reach demand.

While outdoor-grown marijuana is more susceptible to the agricultural uncertainties faced by traditional farmers, from pests to wind damage, the harvests can be much larger and cost less because growers do not have to pay for the sunlight. Estimated at $1.03 billion annually, marijuana is the state's second-largest cash crop, close behind apples, according to a study by researcher Jon Gettman, Ph.D.

"The financials submitted to us by this grower have encouraged us to take our evaluation to another level. We see a solid operation within a very controlled business environment, and great potential for increasing revenues through an addition of operating capital and business resources," said Lance Williams, President and CEO of Nhale.

Nhale is in the process of evaluating possible acquisitions in Washington, Colorado and Canada, and recently executed an LOI 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.

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.

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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

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    Nhale, Inc.
    Lance Williams
    President and CEO