$HENC News : Company purchases 10-acre parcel in V
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Posted On: 12/09/2022 8:08:57 AM
$HENC News : Company purchases 10-acre parcel in Vassar Township, Michigan, for growing, processing, and selling cannabis in the state.
Favorable terms include $75,000 down payment (12.5% of $600,000 purchase price) and 4.75% annual interest rate.
Property zoning supports company's licenses to produce and market marijuana for both medicinal and adult recreational use.
Location is ideal for distribution throughout Michigan, a $2.3 billion cannabis market in 2022.
DOVER, DE / ACCESSWIRE / December 6, 2022 / Hero Technologies (OTCQB:HENC)(Twitter: @heroicmindtech), a cannabis company focused on a "seed-to-sale" vertical integration strategy, today announced that it has closed of the purchase of a 10-acre property in Vassar Township, Michigan, The company plans to use the property for its cannabis business in the state, including indoor and outdoor growing, processing, wholesaling, and selling directly to consumers through dispensary operations. The transaction closed on December 5, 2022, at a purchase price of $600,000, with the company making a $75,000 down payment (12.5% of the purchase price). The company received a favorable annual interest rate of 4.75%, with monthly interest-only payments permitted and additional payments applied against principal. Under the terms of the land contract, the company will pay off the loan's principal within five years.
https://finance.yahoo.com/news/hero-technolog...00845.html
Favorable terms include $75,000 down payment (12.5% of $600,000 purchase price) and 4.75% annual interest rate.
Property zoning supports company's licenses to produce and market marijuana for both medicinal and adult recreational use.
Location is ideal for distribution throughout Michigan, a $2.3 billion cannabis market in 2022.
DOVER, DE / ACCESSWIRE / December 6, 2022 / Hero Technologies (OTCQB:HENC)(Twitter: @heroicmindtech), a cannabis company focused on a "seed-to-sale" vertical integration strategy, today announced that it has closed of the purchase of a 10-acre property in Vassar Township, Michigan, The company plans to use the property for its cannabis business in the state, including indoor and outdoor growing, processing, wholesaling, and selling directly to consumers through dispensary operations. The transaction closed on December 5, 2022, at a purchase price of $600,000, with the company making a $75,000 down payment (12.5% of the purchase price). The company received a favorable annual interest rate of 4.75%, with monthly interest-only payments permitted and additional payments applied against principal. Under the terms of the land contract, the company will pay off the loan's principal within five years.
https://finance.yahoo.com/news/hero-technolog...00845.html
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