Formal
appraisal
to assist
with financing
for property acquisition
Dover, DE
-- March
24, 2021 -- InvestorsHub
NewsWire -- Hero
Technologies (OTC
PINK:
HENC;
Twitter:
@heroicmindtech),
a
cannabis company focused on a "seed-to-sale" vertical integration
strategy, today
announced that
its majority owned
subsidiary,
BlackBox Systems and Technologies LLC (the "Company"
or
"Blackbox") has
completed
a survey
of the 120 acre property
in Concord, Michigan that the Company
intends
to purchase. The
Company
signed an agreement to purchase the property for
$1,500,000. On March 18, 2021,
the Company received a valuation report where the property
was appraised for
$1,700,000. Blackbox
has until
approximately mid-2021
to close
on the property.
The
Company expects that
the appraisal will help expedite financing to develop the property
for cannabis farming. The Company
plans to
use part of the
Michigan
acreage
for a state-of-the-art
greenhouse complex for
year-round, high-yield
cannabis cultivation.
It recently executed a
contract for the initial phase of greenhouse
construction
with
Ceres Greenhouse Solutions. The
Company
also plans to allocate some
acreage
to
seasonal
outdoor cannabis grows through low cost hoop
houses.
"We are
very pleased with our continued progress in Michigan,
and
we
expect the
Concord
property
to quickly become a linchpin in our
seed-to-sale cannabis
marketing
strategy," said Hero
Technologies' CEO Gina Serkasevich. "We look forward to
securing financing to develop the
land
through our BlackBox subsidiary, using
the
property
appraisal
to speed
up
the
process."
The
company's appraisal contract
is
with
Newmark, a leading
commercial real estate firm. Newmark,
formerly Newmark Knight
Frank, has been one of the
world's leading commercial real estate companies
for over
90 years. The company's
comprehensive real estate services
generate over $2 billion in annual revenues.
The
survey of the company's
Concord
property
was performed
by
Wolverine Engineers and Surveyors, which has provided
civil engineering
services
in Michigan for over 100 years.
About
Hero Technologies
Hero
Technologies Inc. is a
cannabis company with a vertically-integrated business
model. The company has 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 business
plan includes cannabis genetic engineering, farmland for both
medical and recreational cannabis cultivation, production licenses,
distribution licenses, consumer
packaging and retail operations, and dispensaries that make the
company a multi-state
operator
(MSO).
Forward-Looking
Statements
This
press release contains "forward-looking statements" within the
meaning of the federal securities laws, including Section 27A of
the Securities Act of 1933, as amended, and Section 21E
of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements may include: management plans relating to the proposed
project; the expected timing of the completion of the proposed
project; the ability to complete the proposed project; any
statements of the plans and objectives of management for future
operations, products or services, including the execution of plans
proposed project; any statements of expectation or belief;
projections related to certain financial metrics; and any
statements of assumptions underlying any of the foregoing.
Forward-looking statements are typically identified by words such
as "anticipate," "believe," "could," "estimate," "expect,"
"forecast," "intend," "may," "outlook," "plan," "project," "seek,"
"should," "target," "will," "would" and other similar words and
expressions or negatives of these words. Forward-looking statements
are subject to numerous assumptions, risks and uncertainties, which
change over time and are beyond our control. Forward-looking
statements speak only as of the date they are made. Neither Hero
Technologies Inc. nor its holding company or subsidiaries assumes
any duty and does not undertake to update any forward-looking
statements. Because forward-looking statements, by their nature,
are uncertain or assumptive to varying degrees, actual results or
future events could differ, possibly materially, from those that
Hero Technologies Inc., its holding company or subsidiaries
anticipated in the forward-looking statements, and future results
could differ materially from historical performance.
Hero
Technologies Contact:
Ms. Gina
Serkasevich, CEO
(302)
538-4165 |
info@herotechnologiesinc.com
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