Today
before the opening bell, Nhale reported it is in advanced talks with the
company representative of a licensed Washington grower. This entity sought out
Nhale as a prospective partner. The grower is in the midst of executing its
first legal harvest within the state. It seeks to triple in size by 2015.
There are
strong market opportunities within Washington for recreational marijuana. An
article in Marijuana Business Daily had a poll in which 26% of Americans said
they would purchase marijuana if recreational use in their state were legally
permissible. Based on the poll statistics, Washington would potentially have a
pool of 363,000 customer prospects, excluding out-of-state visitors.
Additionally, The Marijuana Business Factbook projected as much as $500 million
in potential sales in Washington, which could lead to $1 billion in sales as
the market matured.
“Given the
importance of Washington State to the legal marijuana industry, Nhale is highly
interested in this grower and the potential this deal brings. The alliance
could mean a strong entry into this market,” said Lance Williams, President and
CEO of Nhale. “We are currently exploring the possible approaches to this
opportunity to ensure it is the best arrangement for both parties and enhances
value for Nhale stockholders.”
For more
information, visit: www.nhaleinc.com/investors.html
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