Nhale
has announced that it delivered a letter of intent to an outdoor marijuana
grower in the state of Washington. The profitable grower is a licensed producer
known for helping supply the sharp upward trending demand for legal marijuana
in that state as a result of retail recreational marijuana stores opening for
business last summer.
The
Washington grower and others who produce marijuana legally have received
autumn’s first outdoor harvest which yielded at least a doubling of revenue
from August. Retailers are excited to see the product – so eagerly waited for,
begin to satisfy market demand.
With
marijuana that is grown outdoors being more likely affected by traditional
agricultural farming variables such as pests and wind damage, the yields are
much higher and have a tendency to cost less since growers do not have to pay
for the sunlight. Estimated at $1.03 billion annually, marijuana is the state’s
second-largest cash crop, close behind apples, according to a study by
researcher Jon Gettman, Ph.D.
Lance
Williams, President and CEO of Nhale commented, “The financials submitted to us
by this grower have encouraged us to take our evaluation to another level. We
see a solid operation within a very controlled business environment, and great
potential for increasing revenues through an addition of operating capital and
business resources.” In step with Nhale’s mission to acquire companies with
valid business models in the legitimate cannabis industry, it is active in
seeking and evaluating prospective acquisitions in Washington, Colorado and
Canada. As of late, the company signed a letter of intent to explore the
commercial metrics of a prospective Oregon grower.
Nhale
is a U.S. company actively pursuing acquisition opportunities in the upward
trending marijuana industry. Nhale endeavors to acquire companies with
legitimate business models strategically poised to make positive impacts within
the medical and recreational cannabis market. The company’s strengths include
operating talent and leadership to emerging companies in the space, promoting
industry awareness and developing economically sustainable partnerships while
increasing shareholder value.
For
more information on the company visit www.nhaleinc.com/investors.html
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