Nhale
announced it is in discussions with an Oregon-based, private company with
marijuana production capabilities. The intent is to grow cannabis should the
state legalize recreational marijuana in tomorrow’s election on November 4th.
The company under consideration plans to apply for a permit from the state to
begin operations on a 20-acre parcel in western Oregon. This venture aligns
with NHLE’s goal to acquire revenue-generating assets in the legal cannabis
industry.
Measure
91, The Oregon Legalized Marijuana Initiative, is on the November 4, 2014
ballot as an initiated state statute. If approved by voters, the measure will
legalize recreational marijuana for people ages 21 and older thus allowing
adults over this age to have up to eight ounces of “dried” marijuana and up to
four plants.
In Oregon,
data shows 14.5 percent of the state’s population uses marijuana, compared to
about 10.8 percent of Americans. These figures give Oregon one of the highest
rates of marijuana use in the U.S. Oregon also has one of the oldest medical
marijuana programs in the US, established in 1998, just two years after the
first was created in California. State economists estimate Oregon will gain
between $17.5 and $25.9 million in tax revenues in the first years of
legalization with one fifth of the consumption expected to come from tourists.
Lance
Williams, President and Chief Executive Officer of Nhale, said, “We have been
carefully investigating prospects in the marijuana industry. With legalization
taking place in multiple markets, we are seeking experienced, proven
collaborators in this expanding and highly profitable space.”
Currently
legal for medical or recreational purposes in 23 states, data suggests
marijuana could become legal nationwide in some capacity in a few years. In an
interview with the Huffington Post, Rep. Earl Blumenauer (D-Ore.) said, “I
think it’s game over in less than five years,” referring to the downward trend
of legal prohibitions of cannabis in the U.S.
Nhale™ is
a technology company whose mission is to be the premier legal cannabis industry
innovator, promoting industry awareness and developing economically sustainable
partnerships while increasing shareholder value.
For more
information, visit www.nhaleinc.com
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