Recreational Pot Sales Posting Solid Gains as Nhale (NHLE) and Washington Grower Proceed With Negotiations
HOUSTON, TX--(Marketwired - Dec 10, 2014) - As Nhale Inc. (OTCQB: NHLE) and a licensed Washington pot producer move closer to signing a letter of intent (LOI), sales of recreational marijuana in the state continue to grow rapidly. Since the first recreational marijuana shops opened their doors in July, sales in Washington State have increased 400% and are on track to bring in about $200 million over the next 12 months, according to Marijuana Business Daily.
"One of the reasons for the rising sales growth is that retail stores are less likely to run out of inventory now that the fall harvest is in; although there is ample potential for growth," said Lance Williams, President and CEO of Nhale. "Our initial talks with the licensed pot producer in Washington are favorable, and with the addition of operating capital and business resources, we calculate we have the capacity for tripling output during the next harvest."
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.
Nhale is in the process of evaluating possible acquisitions in Washington, Colorado and Canada, and recently executed an LOI to assess a prospective Oregon grower. This effort is in accordance with Nhale's mission to acquire companies with valid business models in the legitimate cannabis industry.
About Nhale, Inc. (OTCQB: NHLE)
Nhale™ is a U.S. company actively pursuing acquisition opportunities in the rapidly expanding marijuana industry. Nhale acquires companies with proven business models positioned to make a significant impact within the medical and recreational cannabis market. NHLE brings operating talent, tools and leadership to emerging companies in the space, promoting industry awareness and developing economically sustainable partnerships while increasing shareholder value.
For further information visit http://nhaleinc.com/investors.html
Forward-Looking Statements
Certain information provided in this press release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. You can find a discussion of those risks and uncertainties in our EDGAR securities filings with the Securities and Exchange Commission. Such factors include, but are not limited to: general economic, market and business conditions; fluctuations in the marijuana market; the results of product development and the result of our efforts to develop strategic relationships, partnerships and potential acquisitions that are in line with our business model; outcome of partnership negotiations; the uncertainty of market estimates; changes in environmental and other regulations; risks associated with retail operations; and other factors, many of which are beyond the control of the Company. There is no representation by Nhale that actual results achieved during the forecast period will be the same in whole or in part as those forecast. Except as may be required by applicable securities laws, Nhale assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
