Hero Technologies Common Stock Upgraded to OTCQB Market

Rhea-AI Summary

Hero Technologies (OTCQB:HENC) has announced its upgrade to the OTCQB marketplace, improving its reporting standards and investor transparency. The OTCQB is less speculative than Pink Sheets, requiring companies to meet strict criteria, including a $0.01 bid test and maintaining a public float of over 10%. CEO Gina Serkasevich emphasized that this upgrade will enhance visibility and liquidity for the company, making it more attractive to investors. By adhering to OTCQB's high standards, the company aims to improve communication and public awareness about investment opportunities.

Positive

• Upgrade to OTCQB marketplace enhances company visibility and investor appeal.
• Compliance with stringent reporting standards may attract more investors.
• Improved liquidity could benefit current and potential shareholders.

Negative

• None.

Company expects transparent reporting standards, annual verifications, and other quality measures will expand its investor base and increase liquidity.

DOVER, DE / ACCESSWIRE / July 12, 2022 / Hero Technologies (OTCQB:HENC) Twitter: @heroicmindtech, a cannabis company focused on a "seed-to-sale" vertical integration strategy, today announced that the OTC Markets Group has upgraded the company's common stock to the OTCQB marketplace. As the mid-tier OTC equity market in the U.S., OTCQB is less speculative than Pink Sheets for early-stage developing companies. To qualify for an OTCQB listing, a company must adhere to strict reporting standards, undergo yearly verifications and certifications, and meet a $0.01 bid test. OTCQB-listed companies must also have a public float representing more than 10% of the total shares outstanding, with at least 50 beneficial shareholders, and with each shareholder owning at least 100 shares.

The OTCQB marketplace operates through OTC Link, an inter-dealer quotation and trading system registered as a broker-dealer and alternative trading system with the Securities and Exchange Commission. OTCQB-listed companies report to a U.S. regulator, following high transparency standards.

"Having our common stock upgraded to the OTCQB marketplace is an important step in the growth and maturity of our company," said Hero Technologies' CEO, Gina Serkasevich. "We are committed to serving our shareholders and investors with transparent communication and timely, accurate disclosure of material information. By adopting the higher regulatory standards of the OTCQB market, we believe that Hero Technologies will become a more attractive investment option to many more investors, enhancing our company's visibility and liquidity."

OTCQB rules about public availability of current information reflect the OTC Markets Group's core principal of transparent disclosure. An OTCQB-listed company is expected to release quickly and publicly any information likely to materially affect the market for its securities. Company management also has the responsibility to dispel misinformation that results in unusual market activity. In addition, an OTCQB company must ensure that any marketing or promotion of its stock reflects accurate information, without misleading or speculative "hype," and that it clearly discloses its relationships with marketers and promoters.

"We are happy to continue following the accuracy and transparency rules required by our OTCQB listing," added Serkasevich. "Our commitment to accuracy and transparency is especially important as we disseminate information through email, Twitter, InvestorsHub, Discord, Telegram, and other channels in an effort to boost public awareness of our market and investment opportunities."

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).

Forward-Looking Statements

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 | gs@herotechnologiesinc.com

SOURCE: Hero Technologies Inc.

View source version on accesswire.com:
https://www.accesswire.com/708180/Hero-Technologies-Common-Stock-Upgraded-to-OTCQB-Market

FAQ

What does the OTCQB upgrade mean for Hero Technologies (HENC)?

The upgrade to OTCQB means Hero Technologies must meet higher reporting standards, potentially attracting more investors and increasing liquidity.

When did Hero Technologies announce the OTCQB upgrade?

Hero Technologies announced the OTCQB upgrade on July 12, 2022.

What are the requirements for a company to be listed on the OTCQB?

To qualify for OTCQB, a company must meet strict criteria, including a $0.01 bid test, a public float of over 10%, and at least 50 beneficial shareholders.

How does the OTCQB marketplace differ from Pink Sheets?

OTCQB is less speculative than Pink Sheets, as it requires companies to adhere to higher transparency and reporting standards.

What is the expected impact of the OTCQB listing on HENC's stock performance?

The OTCQB listing is expected to enhance HENC's visibility and liquidity, potentially leading to improved stock performance.