DOVER - Hero Technologies, a cannabis company focused on a "seed-to-sale" vertical integration strategy, today announced that, subject to certain minimal conditions, it has received license and permit approval from Vassar Township, Michigan, to build a local cannabis growing facility.
The company was approved subject to certain conditions; however, approval requires only resubmission, not an additional planning commission meeting. Vassar Township Planning Commission meetings are only once per month. The company's application was sufficient to avert another one month wait to receive Commission approval. All conditions have been satisfied by the company. Blackbox management sent requested revisions to Vassar Township on Monday, November 14th. Relevant conditions included revisions to the drawings to reflect a future processing facility and changes to the lighting plan.
In a parallel development, the company expects to close on its previously agreed-upon purchase of a 10-acre parcel in Vassar within the next 10 days.
Hero Technologies' subsidiary, BlackBox Systems and Technologies LLC, previously received pre-qualification approval from the state of Michigan for Adult (recreational) and Medicinal Use cannabis licenses.
"We are grateful to the Vassar Township Planning Commission for its thorough and expeditious review of our license and permit application," said Hero Technologies' CEO Gina Serkasevich. "Now that we have the necessary local approvals, we look forward to closing on our 10-acre property in Vassar as soon as possible, transforming the site into a state-of-the art cannabis production facility, and capitalizing on the strong cannabis market in Michigan."
Michigan's legal marijuana market has grown rapidly since the state legalized adult recreational use in 2020. According the Michigan Marijuana Regulatory Agency, sales of legal cannabis in the state were approximately $1.8 billion in 2021 and should approach $2.8 billion in 2022.