Sign In  |  Register  |  About Menlo Park  |  Contact Us

Menlo Park, CA
September 01, 2020 1:28pm
7-Day Forecast | Traffic
  • Search Hotels in Menlo Park

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

InvestorNewsBreaks – Hero Technologies Inc. (HENC) Expresses Optimism Toward US Cannabis Market

Hero Technologies (OTCQB: HENC), a cannabis company focused on a “seed-to-sale” vertical integration strategy, today expressed a positive outlook for the legal marijuana market in the United States. In Michigan, where the company is in the process of establishing growing, processing and distribution operations, the cannabis market has surged 27% in the past year. According to the Michigan Marijuana Regulatory Agency, the state’s legal marijuana sales are expected to approach $2.3 billion in 2022, up from $1.8 billion in 2021. Adult recreational use has driven this rapid growth and generated 88% of the state’s year-to-date cannabis revenue. Hero’s subsidiary, BlackBox Systems and Technologies LLC, has pre-qualification approval in Michigan to produce and market cannabis for both adult recreational and medicinal use. “The broad U.S. cannabis market has strong growth prospects, not just because of organic increases in demand, but also because more states continue to legalize marijuana. Currently, 37 states, the District of Columbia, and three territories (Guam, Puerto Rico and the U.S. Virgin Islands) allow medicinal use of cannabis, and 24 of those jurisdictions have also legalized adult recreational use,” said Hero Technologies’ CEO Gina Serkasevich. “The main obstacle to a truly national cannabis market in the U.S. is that marijuana is still a controlled substance under federal law. That complicates banking and other financial services for cannabis companies looking to launch and expand their business around the country. Fortunately, significant winds of change are finally sweeping across the federal political landscape.”

To view the full press release, visit https://ibn.fm/YnOwJ

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. Hero Technologies’ 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, 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

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com

InvestorWire is part of the InvestorBrandNetwork.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 MenloPark.com & California Media Partners, LLC. All rights reserved.