Hero Technologies (OTC: HENC) CEO Gina Serkasevich has released statement about the future of the cannabis market, including the demand for legal marijuana. Hero Technologies is a cannabis company focused on a seed-to-sale vertical integration strategy. In her discussion, Serkasevich talks about the impact that inflation and recession might have on the U.S. cannabis market. In her statement, Serkasevich pointed to the economic downturn caused by the global pandemic, during which the cannabis industry experienced explosive growth while other industries struggled. According to the announcement, sales of legal cannabis in Michigan during 2021 soared 82% to $1.8 billion while many states expanded legalization of the substance. “We see evidence that the cannabis market can survive, or even thrive, in hard times,” said Hero Technologies CEO Gina Serkasevich in the press release. “The main factors driving growth in the U.S. cannabis market seem relatively impervious to recession. First, vast new markets are opening up — 34 states have now legalized some form of cannabis. Second, medical marijuana seems to have the same inelastic demand and price stability as other medicines; people don’t cut back on prescriptions no matter what is happening in the economy. Third, the use of recreational marijuana seems to mirror the use of alcohol in tough times. These substances serve as an escape or reward in the face of hardship. . . . Not only do we have sound reasons to expect that the U.S. cannabis market will do well even if the country falls into recession, market data suggests that the future for cannabis in America is very bright.”
To view the full press release, visit https://ibn.fm/NVyjJ
About Hero Technologies Inc.
Hero Technologies 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 multistate operator (“MSO”). For more information about the company, please visit 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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