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Posted On: 10/04/2022 1:01:43 PM
Post# of 99247
$HENC Hero Technologies’ Sale of Common Stock Finances Land Purchase for Michigan Cannabis Operations
https://www.accesswire.com/718437/hero-techno...operations
With cost-effective stock sale, company paves the way to establish base in fast-growing Michigan cannabis market.
DOVER, DE / ACCESSWIRE / October 4, 2022 / Hero Technologies (OTCQB:HENC) Twitter: @heroicmindtech), a cannabis company focused on a "seed-to-sale" vertical integration strategy, today announced that it is financing the purchase of its 10-acre property in Vassar, Michigan, through a sale of its common stock. To raise funds for the down payment for the property, related costs, and general corporate purposes, the company sold two million shares of common stock at $0.05 per share and raised $100,000. The company must pay $65,000 of the remaining $75,000 down payment to take possession of the Vassar property. The company does not plan on closing until it secures cannabis licenses from the Vassar Township. The company is in the process of finalizing its application and awaits a final component before submittal: blue print drawings of the buildings that will be erected for Blackbox to grow cannabis.
The company's subsidiary in Michigan, BlackBox Systems and Technologies LLC, plans to use the property as its base of cannabis operations, including cultivation, processing, and selling through both wholesale and retail channels. BlackBox has already won pre-qualification approval in Michigan for Adult (recreational) and Medicinal Use cannabis licenses.
Hero Technologies' CEO, Gina Serkasevich, said, "Raising funds through a stock sale was an efficient, cost-effective way to finance our Michigan property purchase. Closing quickly on the property will speed our plan to deploy our proprietary cannabis cultivation system, which we believe will enable the company to gain a share of the large and quickly growing Michigan cannabis market."
https://www.accesswire.com/718437/hero-techno...operations
With cost-effective stock sale, company paves the way to establish base in fast-growing Michigan cannabis market.
DOVER, DE / ACCESSWIRE / October 4, 2022 / Hero Technologies (OTCQB:HENC) Twitter: @heroicmindtech), a cannabis company focused on a "seed-to-sale" vertical integration strategy, today announced that it is financing the purchase of its 10-acre property in Vassar, Michigan, through a sale of its common stock. To raise funds for the down payment for the property, related costs, and general corporate purposes, the company sold two million shares of common stock at $0.05 per share and raised $100,000. The company must pay $65,000 of the remaining $75,000 down payment to take possession of the Vassar property. The company does not plan on closing until it secures cannabis licenses from the Vassar Township. The company is in the process of finalizing its application and awaits a final component before submittal: blue print drawings of the buildings that will be erected for Blackbox to grow cannabis.
The company's subsidiary in Michigan, BlackBox Systems and Technologies LLC, plans to use the property as its base of cannabis operations, including cultivation, processing, and selling through both wholesale and retail channels. BlackBox has already won pre-qualification approval in Michigan for Adult (recreational) and Medicinal Use cannabis licenses.
Hero Technologies' CEO, Gina Serkasevich, said, "Raising funds through a stock sale was an efficient, cost-effective way to finance our Michigan property purchase. Closing quickly on the property will speed our plan to deploy our proprietary cannabis cultivation system, which we believe will enable the company to gain a share of the large and quickly growing Michigan cannabis market."
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