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| More Vertical Integration for TRTC with Construction of New Cultivation Facility in Oakland |
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 Hot Stock to Watch |
Company: Terra Tech Corp (OTCQX: TRTC)
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Last:
Price: 0.278
Change (%): + 0.008 (2.96)
Volume: 2,126,028 |
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Terra Tech Announces Construction of a New Cannabis Cultivation Facility in California
NEWPORT BEACH, CA-(Marketwired - March 07, 2017) - Terra Tech Corp. (OTCQX: TRTC) (“Terra Tech”) or (the “Company”), a vertically integrated cannabis-focused agriculture company, today announced the construction of a new cultivation facility in Oakland, California.
Terra Tech has executed a lease for 13,000 square feet of industrial space on over 30,000 square feet of land in Oakland’s industrial corridor. The Company is in the final stages of designing a state of the art cultivation facility projected to produce over one metric ton of premium grade cannabis per annum for its IVXX brand. The design includes fully automated environmental controls which are anticipated to reduce production costs associated with the cultivation of IVXX cannabis. Construction is expected to be completed by the end of Q3 2017, with full production capacity expected by the end of Q4 2017. As a partner to the City and in renewed commitment to the Oakland community, TRTC will work with the City of Oakland to ensure that the new cultivation facility meets all permitting and operational requirements, inclusive of any requirements that may be adopted by the Council.
Derek Peterson, Terra Tech Chief Executive Officer, stated, “This new facility will bring scale to our cannabis production capacity, representing yet another step towards increasing Terra Tech’s margins. We expect our expanded capacity to drive sales of our IVXX premium cannabis products in California, which is our leading market, as demand continues to strengthen.”
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