Source: Nhale, Inc. – Press Release, 11-7-2014
HOUSTON, TX–(Marketwired – Nov 7, 2014) – As proponents celebrate the passage of the initiative which allows adults in Oregon to possess and grow marijuana for personal use, Nhale Inc. (OTCQB: NHLE) is proceeding with due diligence related to negotiations with a prospective Oregon grower.
This week, voters in Oregon and Alaska followed Colorado and Washington State in passing legislation to legalize cannabis for recreational use. The historic votes reflect victories for pro-legalization advocates hoping to bring legal marijuana to additional states in 2016. Pot entrepreneurs in Oregon are now making plans to open retail shops. The state already has a medical marijuana system in place.
“We applaud the pioneering marijuana advocates in Oregon for their efforts in opening this market and dealing another blow to cannabis prohibition. We look forward to joining the promising marijuana market in the state and growing along with it as legalization continues to spread across the U.S,” said Lance Williams, President and CEO of Nhale, Inc.
Last week, Nhale Inc. entered into a Letter of Intent (LOI) with the private Oregon-based company and is performing due diligence on its marijuana production capabilities, with the objective of growing legal cannabis. 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. This venture is in accordance with Nhale’s mission to acquire companies with proven business models in the legal cannabis industry.
About Nhale, Inc. (OTCQB: NHLE)
Nhale™ is a technology company whose mission is to be the premier legal cannabis industry innovator, promoting industry awareness and developing economically sustainable partnerships while increasing shareholder value.
For further information visit http://nhaleinc.com/investors.html
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.
President and CEO