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NHLE Engages Discussion With Oregon Marijuana Grower in Expectation of State Marijuana Legalization
NHLE Engages Discussion With Oregon Marijuana Grower in Expectation of State Marijuana Legalization.
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[{"type":"text","content":"\n \n \n NHLE Engages Discussion With Oregon Marijuana Grower in Expectation of State Marijuana Legalization\n \n \nNHLE Engages Discussion With Oregon Marijuana Grower in Expectation of State Marijuana Legalization\n \n HOUSTON, TX--(Marketwired - Nov 3, 2014) - Nhale Inc. (OTCQB: NHLE) announces it is in talks with a private, Oregon-based company that has marijuana production capabilities, with the intent of growing legal cannabis, if and when the state legalizes recreational marijuana in the upcoming election on Tuesday, November 4. 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 revenue-generating assets in the legal cannabis industry.\n The Oregon Legalized Marijuana Initiative, Measure 91, is on the November 4, 2014 ballot in that state as an initiated state statute. If approved by voters, the measure will legalize recreational marijuana for people ages 21 and older, allowing adults over this age to possess up to eight ounces of \"dried\" marijuana and up to four plants.\n In neighboring Washington State, nearly $14 million worth of marijuana was sold between July 8, 2014 -- when legal marijuana stores first opened -- and Monday, September 12. State economists estimate legal cannabis will boost the state's tax revenue by $25 million during the first year, with an increase of approximately $200 million by mid-2017. \n Meanwhile, in Colorado, the other state where recreational marijuana was legalized in 2012, new figures from the Colorado Department of Revenue show recreational marijuana sales have continued to climb, totaling $34.1 million in August 2014, since the first stores opened on January 1, 2014. Medical sales figures in the state came in just under the recreational total at $33.4 million.\n In Oregon, approximately 14.5 percent of the state's population uses marijuana, compared to about 10.8 percent of Americans, boasting one of the highest rates of marijuana use in the U.S. Oregon also has one of the oldest medical marijuana programs in the US, established in 1998, just two years after the first was created in California. State economists conservatively estimate Oregon will gain between $17.5 and $25.9 million in tax revenues in the first years of legal...