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Formal appraisal to assist with financing for property acquisition
DOVER, DE / ACCESSWIRE / March 24, 2021 /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).
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 | email@example.com
Brokers and Analysts:
(410) 825-3930 | firstname.lastname@example.org
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SOURCE: Hero Technologies Inc.
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