Hero Technologies' Subsidiary Obtains Key State Approval for Full Adult and Medicinal Use Cannabis Licenses in Michigan

Final site approval, the last step in licensing

DOVER, DE / ACCESSWIRE / September 27, 2021 / Hero Technologies (OTC PINK:HENC) (Twitter: @heroicmindtech), a cannabis company, today announced that its subsidiary, BlackBox Systems and Technologies LLC ("BlackBox") has fulfilled the requirements for Step 1 Prequalification approval for a Class C Medicinal Use Cannabis License in Michigan. The company has also received Step 1 Prequalification approval for a Class C Adult Use Cannabis License. Now that the company has received Michigan's Step 1 Prequalification approval for adult and medicinal use, it will now begin the process for Step 2 Establishment Use or full license approval for a newly constructed Medical Marijuana Facility. Further, the company has obtained approval from the Township of Pulaski for three Class C Medicinal Use Cannabis Licenses conditioned on completing Step 2 with the Michigan Marijuana Regulatory Agency ("MRA"). Final approval and licensing for both Medicinal and Adult Use licenses will occur upon completion of the greenhouses, obtaining a Certificate of Occupancy, and a final MRA inspection. Completing the Step 2 process will allow the company to proceed with the cultivation of cannabis in Michigan.

Step 1 Prequalification allows the company to also apply for dispensary licenses anywhere in Michigan.

To earn a Step 1 Prequalification approval for both licenses, BlackBox had to provide detailed information to the MRA on its sources of capitalization, corporate officers, directors, major shareholders, insurance compliance, financial statements attested to by a certified public accountant, and undergo extensive background checks.

"Michigan's two-step marijuana licensing process is one of the toughest in the country, and passing the scrutiny of state regulators for license prequalification should give our shareholders great confidence in our Michigan business plan," said Hero Technologies' CEO, Gina Serkasevich. "The State of Michigan is also one of the fastest-growing cannabis markets in the nation, with monthly sales approaching $150 million in only the second year of legal operations, so our shareholders should also be excited about our near-term prospects for rapid growth."