New Player in the Michigan Cannabis Market
March 14th, 2022
App, Exclusive, News, Top Story
The state of Michigan is one of the hottest legal cannabis markets in the United States. According to Andrew Brisbo, Executive Director of Michigan’s Marijuana Regulatory Agency, the state recently passed the $3 billion dollar mark in total sales since October 2018. For 2021 alone, total sales topped $1.79 billion. The industry has been growing steadily in Michigan since its inception. In the graph below, the bottom orange line represents medical sales, the middle gray line is recreational sales, and the top yellow line is the total sales.
Source: Michigan Marijuana Regulatory Agency
Michigan’s market is ranked the 7th largest in the US and is knocking on the doors of more established and larger markets like Illinois, Oregon, and Massachusetts. Considering the growth there, and the generally friendly regulatory environment, Michigan would be a logical choice as a place to start for a company with ambitions to become a successful multi-state operator (MSO).
Hero Technologies Inc. (OTC: HENC) is one company that has taken notice and is acting on it. The company has completed the prequalification process for licensing in Michigan and is contemplating the construction of a large cultivation facility in the state. Let’s take a look at what Hero Technologies is up to and where the business might be headed.
Innovative Cultivation System
Hero Technologies owns a majority, controlling interest in BlackBox Systems and is applying for licenses through this subsidiary. BlackBox, and its founder and CEO Marc Kasabasic, have been operating in Michigan as medical caregivers. With Hero’s backing, the company is looking to greatly expand operations in the state with new adult-use and medicinal licenses. The key to the company’s approach is a patent-pending aeroponic cultivation system. In the video below, Kasabasic discusses the innovative system and its capabilities.
Potential advantages of the system include extensive automation, elimination of soils and other substrates, no pesticides, decrease in parasite risk, and high efficiency. The proposed cultivation facility employs the use of sun chambers, rather than a typical greenhouse design. Sun chambers are built like normal buildings, with insulated walls, but have glass roofs to allow for sunlight. The design is sturdier in the face of severe weather than a full greenhouse while taking advantage of both the heat retention of traditional structures and the reduced lighting requirements of greenhouses.
The 120 acre site in Pulaski, MI has been chosen and much work has been done on the design and permitting processes with the various local and state regulators. Hero Technologies plans to use the facility as the cornerstone of its 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 multi-state operator.
Hero Technologies is in the process of upgrading its listing with OTC Markets to the OTCQB level. OTCQB companies have heightened certification and reporting requirements that ensure a high level of transparency for potential investors and stakeholders.
Investors are encouraged to keep an eye on Hero Technologies’ developments over the coming quarters. Hero represents an early-stage opportunity in the flourishing Michigan legal cannabis market, and the company hopes to expand well beyond those borders in the coming years. Stay tuned.
The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.