Business
Hero Technologies Forms Subsidiary for Massachusetts Acquisitions; Total Massachusetts Cannabis Sales Surpassed $1 Billion in 2020-Market Growing Fast
Hero Technologies Forms Subsidiary for Massachusetts Acquisitions; Total Massachusetts Cannabis Sales Surpassed $1 Billion in 2020-Market Growing Fast.
About this update from Hero Technologies Inc.
[{"type":"text","content":"DOVER, DE / ACCESSWIRE / March 5, 2021 / Hero Technologies (OTC PINK:HENC) (Twitter: @heroicmindtech), a cannabis company advancing towards a vertically integrated business model, today announced that it has formed a subsidiary, MassCannabis LLC, to seek property or land acquisition opportunities in the state of Massachusetts as well as potentially initiate dispensary projects.Since legalized cannabis was first sold in Massachusetts in late 2018, it has generated a total of over $1 billion in retail sales, according the state's Cannabis Control Commission. The Commission reported that in the first full year of legal cannabis availability, sales surged to almost $400 million. And an analysis by the cannabis data company Headset estimated that 2020 sales would reach close to $650 million."In forming our new MassCannabis subsidiary, we have taken another key step in executing our growth strategy as a multi-state operator (MSO) and diversified our vertically integrated business model," said Hero Technologies' CEO Gina Serkasevich. "Massachusetts is clearly a fast-growing cannabis market, and expanding our footprint there would extend our geographical reach in the US and diversify our addressable market."About Hero TechnologiesHero 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 StatementsThis 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 co...