- Marijuana sales in Michigan hit record $115.4 million in March, more than twofold increase over March 2020
- U.S. marijuana markets forecasted to reach an estimated $45.9 billion in annual sales by 2025
- HENC focused on developing “largest vertically integrated cannabis company the world has ever known”
The numbers being reported in Michigan’s cannabis space are impressive, and companies operating in the state, such as Hero Technologies (OTC: HENC), are watching the growth of the industry closely. The state’s numbers should only increase as the cannabis market in the United States hits record highs.
“Recreational and medical marijuana sales in the state hit a record $115.4 million in March, a more than two-fold increase over March 2020, according to Headset, a company that analyzes cannabis consumer trends,” reported a recent Detroit Metro Times article (https://ibn.fm/lsVMA). “There were 1.4 million transactions in March.”
The article also noted that in 2020, the first full year of legal recreational sales, Michigan dispensaries reported more than $500 million in purchases, with sales declining slightly late last year. “But in early 2021, sales not only rebounded, they began to soar to record levels,” the article continued. “That growth is expected to continue.”
The most recent Marijuana Business Factbook reports that “the U.S. recreational and medical marijuana markets are on a trajectory to reach up to $45.9 billion in annual sales by 2025, or as much as twice the level of sales projected for this year. . . . U.S. adult-use and medical cannabis sales in 2021 are expected to reach $22 billion–$26.4 billion” (https://ibn.fm/TcwcF).
With U.S. and Michigan numbers heading skyward, Hero Technologies appears to be ideally positioned in the burgeoning market. “We are growers and cultivators, developers, builders, engineers, marketers, and managers all here to serve Hero Technologies Inc. as we rapidly develop the largest vertically integrated cannabis company the world has ever known,” proclaims the company website (https://ibn.fm/uTNor). And while that statement may seem lofty, a closer look at the company reveals a portfolio of companies that provide superior cultivation and dispensary assets.
HENC’s portfolio includes a majority stake in BlackBox Systems and Technologies LLC., an aeroponic cannabis cultivation system that provides optimal conditions to enhance photosynthesis and cultivation of large flowering plants, creating increased efficiencies. Hero Technologies is planning expansion of cultivation and dispensary operations into Massachusetts through wholly owned subsidiary MassCannabis LLC. In addition, Hero Technologies owns and operates two hemp websites: HighlyRelaxing.com under Highly Relaxing LLC and VeteranHempCo.com.
Hero Technologies Inc. is a cannabis company working toward a vertically integrated business model. 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 multistate operator.
For more information, visit the company’s website at www.HeroTechnologiesInc.com.
NOTE TO INVESTORS: The latest news and updates relating to HENC are available in the company’s newsroom at https://ibn.fm/HENC
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