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Nhale (NHLE) Forming Subsidiary Based on Initial Positive Appraisal of Prospective Oregon Grower
Nhale (NHLE) Forming Subsidiary Based on Initial Positive Appraisal of Prospective Oregon Grower.
About this update from China De Xiao Quan Care Group Co., Ltd
[{"type":"text","content":"\n \n \n Nhale (NHLE) Forming Subsidiary Based on Initial Positive Appraisal of Prospective Oregon Grower\n \n \nNhale (NHLE) Forming Subsidiary Based on Initial Positive Appraisal of Prospective Oregon Grower\n \n HOUSTON, TX--(Marketwired - Nov 12, 2014) - Following positive initial due diligence performed on a prospective Oregon grower, Nhale Inc. (OTCQB: NHLE) is forming a subsidiary in the state of Oregon for the purpose of producing legal marijuana.\n Last week, voters in Oregon passed Measure 91, legislation to legalize cannabis for recreational use. The historic measure opened the doors for entrepreneurs in Oregon to enter the industry as the state begins the process of introducing a model whereby recreational marijuana can be legally sold, taxed and regulated. The state already has a medical marijuana system in place.\n Measure 91 proponents project Oregon will collect up to $80 million in marijuana tax revenue during the first two years. This is a realistic forecast, as The Washington Post reports Colorado took in about $7.5 million in August, 2014 alone and about $45 million year-to-date. The Drug Policy Alliance estimates the country could gain $46.7 billion annually in tax revenue through legalization.\n \"By collaborating with the capable team under consideration, we feel comfortable that we can bring a skilled complement of talent and resources into this project and prepare to meet the requirements for approvals and licensing,\" said Lance Williams, President and CEO of Nhale Inc.\n On October 31, Nhale Inc. entered into a Letter of Intent (LOI) with the private Oregon-based company and is close to finalizing due diligence on its capabilities to grow and distribute marijuana. 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.\n About Nhale, Inc. (OTCQB: NHLE)\n \n 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. \n For further information visit http://nhaleinc.com/investors.html\n Forward-Looking Statements\n ...