Hero Technologies (OTCQB: HENC), a cannabis company focused on a seed-to-sale vertical integration strategy, has conducted a study of cannabis markets across the United States in order to evaluate future growth potential. According to the company, its subsidiary BlackBox Systems and Technologies LLC, has a prequalification license approval, which allows the company to produce and market cannabis for both recreational and medicinal use in Michigan. The company is anticipating launching operations in the state soon, and is also assessing opportunities in other states for both near- and medium-term growth. Specifically, the company has looked at California, Massachusetts, Colorado and Illinois, all of which have legalized both recreational and medicinal use of marijuana. The company reported that Illinois is not currently accepting cannabis license applications but plans to make 50 new licenses available later this year. The company also observed that New York, Virginia and New Jersey have moratoriums on cannabis licenses, with New York and Virginia still developing their regulatory schemes for adult-use licenses while New Jersey is allowing local municipalities some flexibility in determining licenses. The study noted that Arizona, Connecticut, Nevada, Oregon and Washington also allow recreational and medicinal use of marijuana but are not currently accepting new cannabis license applications. Overall, the study concluded that the greatest near-term opportunities for Blackbox and HENC are in Alabama and Oklahoma; Alabama is planning to accept cannabis license applications beginning Sept. 1, 2022. “As we push to establish and build our cannabis operations in Michigan for short-term growth, we are also keeping a strategic eye on the future for both near-term and medium-term opportunities,” said Hero Technologies CEO Gina Serkasevich in the press release. “Our goal is to be a multistate grower, processor and marketer of cannabis products.”
To view the full press release, visit https://ibn.fm/y4vkR
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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