Nhale, a
technology company aiming to be the premier innovator in the legal cannabis
industry, with the intent of growing legal cannabis has entered into a Letter
of Intent (LOI) with a private Oregon-based company that has marijuana
production capabilities. This venture is in accordance with Nhale’s mission to
acquire companies with proven business models in the legal cannabis industry.
The LOI
comes fresh on the heels of the successful passage of Measure 91, which
legalizes recreational marijuana for people ages 21 and older. The company
under consideration intends to apply for a permit from the state to begin
operations on approximately 20 acres of land in western Oregon.
The Oregon
Legalized Marijuana Initiative, Measure 91, passed yesterday, allowing adults
over 21 years old to possess up to eight ounces of “dried” marijuana and up to
four plants.
“We
congratulate the citizens of Oregon who have worked hard to bring about this
legislation and we are excited about the opportunity to consider developing our
business in this great state,” Lance Williams, president and CEO of Nhale
stated in the news release. “We feel optimistic about collaborating with the
talented team under consideration and feel they will be complementary to our
goals for future growth.”
According
to CBS News, Oregon easily boasts one of the highest rates of marijuana use in
the U.S. Nearly 15% of the state’s population uses marijuana, compared to about
10.8% of Americans. Oregon also has one of the oldest medical marijuana
programs in the U.S., established in 1998, just two years after the first was
created in California. State economists conservatively estimate that the State
of Oregon will rake in between $17.5 and $25.9 million in tax revenues in the
first years of legalization.
For more
information, visit www.nhaleinc.com
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