Nhale
has announced it is in discussions with a Toronto-based private investment
group to execute a $10 million equity finance arrangement focused on the legal
marijuana industry. The agreement puts structure to a deal that is designed to
invest capital for acquisition and production operations needed for legally
growing marijuana.
Currently
exploring acquisition targets in the state of Washington and Canada, NHLE also
has recently executed a Letter of Intent to audit the potential upside of a
prospective grower based in Oregon. The process runs in line with the company’s
mission to acquire commercial properties with sound business strategies in the
legal cannabis industry.
Lance
Williams, Nhale President and Chief Executive Officer, said of the prospective
agreement, “Having this reserve of funds available will fuel Nhale’s ability to
acquire the best and brightest enterprises as we solidify our leadership
position in the industry.” He also noted, “The group’s commitment to the legal
cannabis industry is unparalleled and we are pleased they share Nhale’s vision
for strengthening the legal marijuana supply chain.”
Running
concurrent with the company’s pursuit of acquisition targets, Mr. WIlliams has
also been in talks with another company that approached Nhale to collaborate on
a planned recreational marijuana cultivation and production facility. Revenues
at this property are projected to exceed $21M within 24 months of commencing
operations. The company is looking for Nhale’s industry insight and guidance with
respect to the legal cultivation and retailing of medical marijuana while
leveraging its knowhow vital for developing quality cannabis strains to fill
marketplace demand.
Mr.
Williams added, “The discussions are still ongoing, however we are very encouraged
by the strength this group adds to the deal value and we look forward to
concluding negotiations in the very near future.”
Nhale
is a U.S. company active in its pursuit of opportunities in the rapidly
expanding marijuana industry. Nhale focuses on acquiring companies with proven
business models positioned to make a significant impact within the medical and
recreational cannabis market. The company brings operating talent, tools and
leadership to emerging companies in the space, promoting industry awareness and
developing economically sustainable partnerships while aiming to increase
shareholder value.
For
more information on the company visit www.nhaleinc.com/investors.html
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