Hero Technologies Projects Multi-Billion
Dollar Cannabis Operation in Michigan
Revenue analysis of multi-phase cultivation plan
shows $3 billion upside
potential in annual retail value
Dover, DE -- March
31, 2021 -- InvestorsHub NewsWire -- Hero
Technologies (OTC:
HENC;
Twitter:
@heroicmindtech),
a
cannabis
company focused on a
"seed-to-sale"
vertical
integration strategy, today
announced
that its subsidiary, BlackBox
Systems and Technologies LLC, has produced detailed
cost, revenue, and profit projections for
cannabis production on the
120-acre
property in Jackson, Michigan the company plans to
purchase.
The
company's
plans
for the
property include building
state-of-the-art sun
chambers—high-technology greenhouses
that produce cost-effective,
high-yield cannabis
all year
round—and cultivating
cannabis
in hoop houses. The
Michigan
property
supports up to 500 sun chambers, where
each
sun
chamber of which can
potentially generate between $5 million
and $10 million annually
in
high-margin revenue.
The company's
financial projections detail eight phases of cannabis
cultivation development.
Depending on the mix of wholesale and retail sales, as well as
cannabis price fluctuations, the company expects to generate
between $15 million and $38 million in annual revenue during the
initial pilot phase, growing quickly to over $100 million in phase
III. The initial pilot
phase is expected to cost approximately $6.5 million to
complete. By the final phase of
development, the company calculates it can produce an annual
cannabis crop of approximately of $1.5 billion in
the wholesale market or a retail value of $3 billion in
annual
sales. The company's goal
for the Blackbox project is to become a super-regional cannabis
cultivation hub in the Midwest.
"The numbers for
our cannabis cultivation
plan in Michigan look exceptionally strong," said Hero
Technologies' CEO Gina Serkasevich. "We have thoroughly
analyzed startup costs, ongoing costs, and a wide range of revenue
scenarios. Even our most conservative estimates, using the low end
of the wholesale price range, put us over $1
billion in revenue by the end of our multi-phase plan.
And the
upside potential is much bigger. A higher percentage of retail
sales and a higher price per pound could
support annual revenue from our Michigan operations in excess of $3
billion." The company believes
it will take five to ten years to reach its master plan for the
Jackson, Michigan property. According to
greenentrepreneur.com the medical market alone in Michigan is
expected to reach $3 billion in sales in coming
years.
About Hero
Technologies
Hero
Technologies Inc. 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 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.
Projection
Information
This press release
contains references to projections and related financial
information, including with respect to pro forma revenues.
Annualized, pro forma, projected and estimated numbers are used for
illustrative purposes only, are not forecasts and may not reflect
actual results. Projection financial information in this press
release does not include anticipated costs and expenses to generate
such revenue. Actual revenue depends on obtaining relevant
licenses, acquiring greenhouse/warehouse space/property, and
developing the greenhouse/warehouse to grow cannabis, as well
execution of our plan. The Company believes the projections
presented provide relevant and useful information for investors
because they clarify the Company's operating performance, make it
easier to compare the Company's results with those of other
companies, and allow investors
to review performance in the same way as the Company's
management. Since these measures are not calculated in
accordance with GAAP, they should not be considered in isolation
of, or as a substitute for, our reported results as indicators of
the Company's performance, and they may not be comparable to
similarly named measurements from other companies.
Hero
Technologies Contact:
Ms. Gina
Serkasevich, CEO
(302) 538-4165 | info@herotechnologiesinc.com
Brokers and
Analysts:
Chesapeake
Group
(410)
825-3930
|
info@chesapeakegp.com
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