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| TRTC Continues So Cal Expansion: Cal Market is Biggest Adult Use MJ Market in US |
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 Hot Stock to Watch |
Company: Terra Tech Corp (OTCQX: TRTC)
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Last:
Price: 0.2348
Change (%): + 0.0112 (4.99)
Volume: 1,174,629 |
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Terra Tech Corp. Expands Retail Dispensary Operations into Santa Ana, California
IRVINE, CA-(Marketwired - September 13, 2017) - Terra Tech Corp. (OTCQX: TRTC) (“Terra Tech” or the “Company”), a vertically integrated, cannabis-focused agriculture company, announced today that it has expanded its retail operations into Southern California through the acquisition of 100% of the assets of Tech Center Drive Management LLC (“Tech Center Drive”). Tech Center Drive operates The Reserve OC medical cannabis dispensary at 2911 South Tech Center Drive Santa Ana, CA 92705.
Under the terms of transaction, Terra Tech has the right to operate the dispensary, and to consolidate 100% of Tech Center Drive’s financial results into the Company’s financial results. In addition, upon receiving regulatory approval from the city of Santa Ana, Terra Tech has the option to acquire the cannabis retail permit associated with the dispensary for no additional consideration.
Derek Peterson, CEO of Terra Tech, commented, “The Reserve has a reputation for first-rate, patient-focused customer service and is expected to generate steady cash flow to the Company. This represents another milestone in our M&A strategy to rapidly expand our retail operations without needing to invest significant time or funds into building dispensaries. We plan to use the successful blueprint from the Blüm Oakland dispensary to grow sales at the Reserve and, in due course, will re-brand the dispensary to Blüm, which is our recognized cannabis retail brand in Northern California and Nevada.”
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