Hero Technologies (OTC: HENC), a cannabis company focused on a seed-to-sale vertical integration strategy, announced that it is amending its current S-1 registration statement. The company is preparing a 424(b)(3) prospectus supplement that removes the 80 million share offering, with each share priced at $0.05. The announcement noted that the amendment will exclude shares that have already been issued. According to the announcement, HENC feels the amendment will reduce short selling and allow the stock to trade more fairly and freely. The company noted that some funds have already been raised under the S-1, but the decision was made to amend the fixed priced registered direct offering to reduce resistance that occurred after an “insolent influencer” highlighted the offering in December 2021. The company is planning to use proceeds from the sale of shares to fund the acquisition of property in Vassar Township, Michigan, as well as other corporate needs. “Our original S-1 registration served its purpose of allowing the company to raise funds quickly and efficiently for strategic purposes,” Hero Technologies CEO Gina Serkasevich said in the press release. “Now it is in the best interest of the company and our shareholders to remove the fixed price offering. We expect that removing the fixed price offering will enable our common stock to trade more fairly and freely, with far less unwarranted short selling.”
To view the full press release, visit https://ibn.fm/ThyMs
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
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork.
