DOVER, DE / ACCESSWIRE / April 7, 2021 / Hero Technologies (OTC PINK:HENC; Twitter: @heroicmindtech), a cannabis company focused on a vertically integrated strategy, today announced that its management and insiders continue to hold HENC common shares and have not sold any shares in the open market, protect equity for legacy shareholders, and communicate company developments transparently.
The company's management and insiders are not currently selling the shares they hold, do not plan to sell any shares in the near future, do not expect to issue any more shares to insiders, and do not anticipate any reverse splits of the company's stock. Should the aforementioned change, the company will disseminate such changes in a press release or in any lawful manner.
The company recently reduced its debt to zero by converting the convertible debt that was held by P2B Capital LLC, an entity controlled by an insider, into common shares. With a clean balance sheet and increased liquidity, the company expects to expand both acquisition activities and organic expansions of existing operations. The company raised $560,000 recently without convertible notes or other 'toxic' financing vehicles.
To provide investors with transparent, accurate common share information, Hero Technologies participates in the Transfer Agent Verified Shares Program. Under this program, the company's transfer agent verifies share data directly to OTC Markets, which displays the data on its website (on the HENC Security Detail tab) and transmits it to investors, brokers, and dealers.
In addition, the company is considering adoption of a 10b5-1 plan to assure investors that insiders will not trade shares based on material non‐public information, and to provide greater transparency of insider transactions. The company may have challenges finding a mid-size broker dealer to implement a 10b5-1 plan; however, we are likely to have some sort of informal plan that the company will disseminate to shareholders and prevent trading on material non-public information.
Company shareholders who held shares before the reverse merger that formed Hero Technologies ("Holloman legacy shareholders") continue to hold over 32% of the equity in the company-far exceeding the 1% to 5% equity that typical reverse mergers leave legacy shareholders.
"We are focused on our shareholders' needs and committed to communicating honestly and openly," said Hero Technologies' CEO Gina Serkasevich. "The commitment of our management team and key insiders to hold their shares and support shareholder value reflects the optimism we have for the future of our company and the faith we have in our strategic plan for rapid growth."
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).
This 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 complete the proposed project; any statements of the plans and objectives of management for future operations, products or services, including the execution of plans proposed project; any statements of expectation or belief; projections related to certain financial metrics; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are typically identified by words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "outlook," "plan," "project," "seek," "should," "target," "will," "would" and other similar words and expressions or negatives of these words. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time and are beyond our control. Forward-looking statements speak only as of the date they are made. Neither Hero Technologies Inc. nor its holding company or subsidiaries assumes any duty and does not undertake to update any forward-looking statements. Because forward-looking statements, by their nature, are uncertain or assumptive to varying degrees, actual results or future events could differ, possibly materially, from those that Hero Technologies Inc., its holding company or subsidiaries anticipated in the forward-looking statements, and future results could differ materially from historical performance.
Hero Technologies Contact:
Ms. Gina Serkasevich, CEO
(302) 538-4165 | [email protected]
Brokers and Analysts:
(410) 825-3930 | [email protected]
SOURCE: Hero Technologies Inc.