HENC Projects Multi-Billion Dollar Cannabis Operation in Michigan
$HENC is on absolute FIRE from the PR today. See below -
HENC 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 / ACCESSWIRE / March 31, 2021 /** Hero Technologies (OTC PINK:HENC;), 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).