Today
after the closing bell, Nhale reported the execution of a term sheet for $10
million in debt financing with Four Twenty Investments, Inc., a Toronto-based
private investment group focused on the financing and strategic investments of
medical marijuana and similar companies involved in the cannabis industry.
According
to the release, Nhale will use this financing to finalize its planned
acquisitions of revenue-generating marijuana operations. The company is
currently negotiating acquisitions of legal marijuana operations in Washington
State, Oregon and Colorado.
“Our
relationship with Four Twenty Investments strengthens our position to acquire
capable businesses and the brightest talent, and allow Nhale to gain market
share within the legal marijuana industry,” stated Lance Williams, President
and CEO of Nhale. He added, “This $10 million commitment allows us to deliver
on our previously disclosed acquisition strategy beginning in the first quarter
of 2015.”
Nhale
believes the culmination of the acquisitions currently being negotiated could
lead to revenues exceeding $30 million next year. The companies being targeted
for acquisition each bring extensive prior experience in the legal cultivation
and retailing of medical marijuana, and each as the depth of skills needed to
help Nhale become the premier provider of legal cannabis to the marketplace.
For more
information, visit www.nhaleinc.com/investors.html
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