Company aggressively seeks to expand cannabis footprint in fast-growing Michigan market
DOVER, DE / ACCESSWIRE / November 29, 2022 / Hero Technologies (OTCQB:HENC)(Twitter: @heroicmindtech), a cannabis company focused on a "seed-to-sale" vertical integration strategy, today announced that it is in discussions to acquire additional property in Michigan for cannabis cultivation and processing. The company recently received local license and permit approval for marijuana production and distribution on a 10-acre property in Vassar Township, Michigan, which has a cannabis-friendly business environment.
The company is particularly interested in purchasing a 20-acre property in Western Michigan that already produces marijuana, has revenue, and has both the physical space and licenses in place to expand operations. This cannabis farm includes dozens of greenhouses, processing facilities, irrigation, and other already existing infrastructure.
Hero Technologies' subsidiary, BlackBox Systems and Technologies LLC, has pre-qualification license approval to produce cannabis for both adult (recreational) and medicinal use in Michigan.
"We are looking at all avenues to accelerate our business development in Michigan and take the shortest path to building revenue," said Hero Technologies' CEO Gina Serkasevich. "We are optimistic about acquiring additional acreage for marijuana cultivation in the state and marketing our products through both wholesale and retail channels. Our strategic goal remains to quickly establish an integrated seed-to-sale cannabis business model to capitalize on the strong and growing Michigan market."
According to Michigan's cannabis regulatory agency, the state market for legal marijuana has increased 27% in 2022, compared to 2021, approaching $2.3 billion in annual sales.
About Hero Technologies
Hero Technologies Inc. is a cannabis company working toward a vertically-integrated business model. The company owns a majority stake in BlackBox Systems and Technologies LLC, an aeroponic cannabis cultivation system that provides optimal growing conditions to enhance photosynthesis and cultivation of large flowering plants, creating increased harvest efficiencies. The company's strategic business plan includes cannabis genetic engineering, farmland for both medical and recreational cannabis cultivation, production licenses, distribution licenses, consumer packaging, and retail and dispensary operations that make the company a multi-state operator (MSO).
This press release contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include: management plans relating to the proposed project; the expected timing of the completion of the proposed project; the ability to complete the proposed project; any statements of the plans and objectives of management for future operations, products or services, including the execution of plans proposed project; any statements of expectation or belief; projections related to certain financial metrics; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are typically identified by words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "outlook," "plan," "project," "seek," "should," "target," "will," "would" and other similar words and expressions or negatives of these words. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time and are beyond our control. Forward-looking statements speak only as of the date they are made. Neither Hero Technologies Inc. nor its holding company or subsidiaries assumes any duty and does not undertake to update any forward-looking statements. Because forward-looking statements, by their nature, are uncertain or assumptive to varying degrees, actual results or future events could differ, possibly materially, from those that Hero Technologies Inc., its holding company or subsidiaries anticipated in the forward-looking statements, and future results could differ materially from historical performance.
Hero Technologies Contact:
Ms. Gina Serkasevich, CEO
(302) 538-4165 | firstname.lastname@example.org
SOURCE: Hero Technologies Inc.
View source version on accesswire.com: