Hero Technologies (OTC: HENC), a cannabis company focused on a seed-to-sale vertical integration strategy, today announced that it has closed on the purchase of a 10-acre property in Vassar Township, Michigan; HENC is purchasing the property for the purpose of growing, processing and selling cannabis. The transaction included a $75,000 down payment on the $600,000 property; the company anticipates paying off the loan within five years. According to the announcement, zoning for the property supports Hero Technologies licenses to produce and market marijuana for both medicinal and adult recreational use. Specifically, Hero Technologies’ subsidiary BlackBox Systems and Technologies LLC, has prequalification approval for adult and medicinal use cannabis licenses; BlackBox also recently received approval to use the newly purchased property for cannabis operations. The company noted that more than 1.6 million people live within 50 miles of the property, which is a 1.5-hour drive from Lansing, the state capital, and Detroit, with a metro population of 4.4 million. “We are gratified to be able to close on our target property in Vassar, Michigan, according to plan,” said Hero Technologies CEO Gina Serkasevich in the press release. “We chose the site for its cannabis-friendly local zoning, cost effectiveness, and geographic location at the heart of Michigan’s booming marijuana market. We are acting promptly to develop the property for cannabis production under our state and local licenses, and we look forward to generating a positive return on our investments for our employees and our investors.”
To view the full press release, visit https://ibn.fm/S91Xj
About Hero Technologies Inc.
Hero Technologies 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 multistate operator (“MSO”). For more information about the company, please visit www.HeroTechnologiesInc.com.
NOTE TO INVESTORS: The latest news and updates relating to HENC are available in the company’s newsroom at https://ibn.fm/HENC
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