Nhale Inc (OTCMKTS:NHLE) announced the signing of a debt financing deal with Four twenty Investments Inc for $10 million. The company will use the funds to advance acquisition efforts in the medical marijuana space. With favorable legislation, the demand for marijuana for medical applications has increased several times.
Demand for medical marijuana
The market for medical marijuana is expected to reach $54.7 billion by the year 2023, growing at a CAGR of 34%.
Cannabis in marijuana plant offers immense medical properties. Several pharmaceutical companies worldwide are using marijuana for manufacturing medicine to treat various diseases. The extracts of the marijuana plant are used to cure disorders and diseases caused by diseases like Alzheimer’s disease and cancer. It is also widely used in anti-aging products.
Increased acceptance of marijuana for medical use
Several nations across the world are using marijuana for the treatment of various chronic diseases. Therefore, it stimulates the growth of cannabis going forward. However, stringent approval procedures and government policies may restrict the growth of marijuana in the forecast period.
Applications of medical marijuana
Physicians are prescribing medical marijuana to cure muscle spasms caused by chronic illness, weight loss, poor appetite, multiple sclerosis, and nausea. It also helps to cure arthritis, Parkinson’s disease, and neurological disorders. Therefore, improving medical applications could spur the demand for medical marijuana.
Nhale will use its talent, leadership, and resources to become a distinguished player and clinch a large pie of the $54.7 billion medical marijuana market. Chief Executive Officer and President of Nhale, Lance Williams, said the medical marijuana market offers excellent opportunities for its team, who will collaborate with startups in the medical marijuana space.
Four Twenty Investments will provide strategic investments and financing to support the companies engaged in medical marijuana and cannabis. Nhale will tap Four Twenty Investments to pursue its acquisitions in the legalized and recreational marijuana where it is legalized to drive growth going forward.
Nhale is engaged in acquiring companies that have promising potential and engaged in recreational and medical marijuana space. It will promote industry awareness and use its talent and leadership to help the companies in the cannabis space and reap rich rewards for the shareholders.