Nhale will
continue looking for acquisition targets in legalized marijuana states and
currently is reviewing grow operations in the state of Washington, as acreage
earmarked for growing could increase, the company’s President and CEO Lance
Williams said today.
Washington
State potentially could quadruple the amount of land for growing legal
marijuana, as the state Liquor Control Board considers changes to its marijuana
regulations associated with recreational use. One of these rules would expand
the allowable land for legal marijuana to 8.5 million square feet. This figure
represents an increase up from the 2 million square feet limit established when
the system was established in 2013.
Two months
after the first recreational marijuana retail stores opened in Washington,
sales are noticeably trending upward and subsequently boosting tax revenue
streams for the state, according to a Fortune article. The article also
acknowledges more and more marijuana shops are opening across the state.
Mr.
Williams went on to say, “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.”
NHLE is
looking into acquisitions in other legal states. In late October 2014, the
company entered into a Letter of Intent with a company in Oregon and recently
established a subsidiary in that state with the intent to produce 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.
Nhale™ is
a company with business activities focused on acquiring opportunities in the
emerging marijuana industry. Nhale’s strategy is to acquire companies with
proven business models positioned to make a significant impact within the
medical and recreational cannabis market. The company promotes industry
awareness and developing economically sustainable partnerships in its mission
to raise shareholder value.
For more
information on the company visit www.nhaleinc.com/investors.html
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