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Hero Technologies (HENC) enters negotiations to purchase land for cannabis operations in Michigan

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The company designated the property, already dedicated to cannabis, to create a base for cultivation and marketing

Dover, DE / ACCESSWIRE / September 20, 2022 / hero techniques (OTCQB: HENC) (Twitter: Tweet embedToday, a cannabis company focused on its “seed-to-sale” vertical integration strategy announced that it has entered negotiations for a property in north central Michigan. The company plans to set up operations in the state to grow, process and sell cannabis through wholesale and retail channels. company branch in Michigan, Black Box Systems and Technologies LLCalready has pre-approval from the state to market marijuana for medical and recreational uses.

The company’s negotiations to purchase a property in Michigan are centered on a 10-acre plot approximately 90 miles north of Detroit. An adjacent plot is already used for the production and storage of cannabis. The property planned for purchase has already been designated for the use of cannabis.

BlackBox has received prequalification approval to license “Category C” cannabis for medical and adult (recreational) use, according to the Michigan Marijuana Regulation and Taxation Act. Pre-qualification approval is a milestone in Michigan The two-step marijuana licensing process, which are among the most stringent in the country. To gain approval, BlackBox had to provide detailed data on sources of capitalization, insurance compliance, key company employees and shareholders, and financial statements attested by a certified public accountant.

“After exploring a number of properties in Michigan, we are focused on land that meets all of the company’s needs for cannabis cultivation and marketing,” said Gina Serkacevic, CEO of Hero Technologies. “We are particularly pleased that the property we are negotiating to purchase has a history of cannabis use, as we believe this will help pave the way for us to quickly build our cannabis operations. I look forward to further reporting to our shareholders as we finalize these negotiations and move to close this property acquisition.”

Hero Technologies’ Michigan cannabis seed strategy includes greenhouses designed around the company’s proprietary aerial growing system. The system is expected to produce high-yield, high-quality plants to serve the state’s fast-growing cannabis market.

According to the Michigan Marijuana Regulatory Agency, in 2022, legal cannabis sales in the state are expected to increase more than 50%, to nearly $2.8 billion.

About hero techniques

Hero Technologies Inc. is a cannabis company working towards a vertically integrated business model. The company owns a majority stake in BlackBox Systems and Technologies LLC, an aerial cannabis cultivation system that provides optimal growing conditions to enhance photosynthesis and the cultivation of large flowering plants, resulting in increased harvest efficiency. The company’s strategic business plan includes cannabis genetic engineering, agricultural land for both medical and recreational cannabis cultivation, production licenses, distribution licenses, consumer packaging, retail and dispensary operations that make the company a multi-state operator (MSO).

forward-looking statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include: Management’s plans relating to the proposed project. The expected timing of completion of the proposed project. Ability to complete the proposed project. any statements about management’s plans and objectives for future operations, products or services, including the implementation of the proposed plans for the project; any statements of expectation or belief; expectations relating to certain financial measures; and any assumptions statements based on any of the above. Forward-looking statements are typically identified by words such as “expect,” “believe,” “could,” “estimate,” “expect,” “expect,” “intend,” “may,” “expect,” “plan,” “project.” “should”, “should”, “objective”, “will” and other words and phrases or negatives similar to these words. Forward-looking statements are subject to many assumptions, risks and uncertainties, which change over time and are beyond our control. They speak only as of the date they are made. Neither Hero Technologies Inc. nor its holding company or its affiliates assumes any duty and does not undertake to update any forward-looking statements. Because forward-looking statements are, by their nature, uncertain or assumed to varying degrees, actual results or events may differ. future results, possibly materially, from those projected by Hero Technologies Inc., its holding company or its affiliates in the forward-looking statements, and future results could differ materially from historical performance.

Contact Hero Technologies:

Ms. Gina Serkacevic, Executive Director
(302) 538-4165 | [email protected]

source: Hero Technologies Inc.


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