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Cannabis Company Hero Technologies Pursues Land Acquisition In Michigan

Hero Technologies (OTCQB: HENC), a cannabis company focused on a "seed-to-sale" vertical integration strategy, is pursuing opportunities to purchase real estate in Michigan.

Benzinga · 09/13/2022 11:02

Hero Technologies (OTCQB:HENC), a cannabis company focused on a "seed-to-sale" vertical integration strategy, is pursuing opportunities to purchase real estate in Michigan. The company's goal is to acquire at least 10 acres to serve as the company's base of cannabis operations in the state.

"We are pleased to report that we are making progress in discussions to acquire land in Michigan," stated Hero Technologies' CEO Gina Serkasevich. "Michigan is a major part of our strategic go-to-market plan. According to regulatory data, sales of legal cannabis in the state should increase over 50% this year to over $2.7 billion. With the company's in-state cannabis license already pre-approved, closing a real estate deal is our next step in executing our end-to-end cannabis cultivation and sales strategy."

Hero Technologies' subsidiary in Michigan, BlackBox Systems and Technologies LLC, plans to grow cannabis both indoors and outdoors, process the plants, and market cannabis products both wholesale and directly to consumers. The company's strategy focuses on using a proprietary aeroponic growing system to produce high-yield, quality cannabis.

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.

Photo by Richard T on Unsplash