QualityStocks would like to highlight
Nhale, Inc. (
OTCQB: NHLE). The company develops and sells leading-edge technology in alignment with its mission to become a recognized, premier innovator in cannabis cultivation, dispensaries, testing, and scientific products. Nhale explores innovations that will position the company on the front lines of the marijuana revolution.
In the company’s news,
Nhale announced its plans to form a subsidiary in the state of Oregon, with initial due diligence on a prospective Oregon grower yielding positive results. The subsidiary will be for the production of legal marijuana.
On October 31, Nhale inked a letter of intent with a privately-held Oregon grower. It is close to finalizing due diligence on the prospect and its capabilities to grow and distribute marijuana. The prospective grower intends to apply for a permit from Oregon to begin operations on approximately 20 acres of land in the western part of the state.
Last week, Oregon voters passed Measure 91, which legalized recreational use of marijuana. Entrepreneurs have been looking for ways to capitalize on these new market opportunities. Oregon already has a medical marijuana system in place, and it is taking steps to come up with a model in which recreational marijuana can be sold.
Proponents of legalization had projected Oregon could attain as much as $80 million in marijuana tax revenue within the first two years of its legalization. The Washington Post reported Colorado took in $7.5 million in tax revenue in just August 2014 and has collected almost $45 million year-to-date. Furthermore, the Drug Policy Alliance projects annual nationwide tax revenue could reach $46.7 billion through legalization.
“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.
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