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| TRTC Gets Crucial So Cal Permit Now Come Build Out to Drive Growth of Wholesale Biz in Large Markets |
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 Hot Stock to Watch |
Company: Terra Tech Corp. (OTCQX: TRTC)
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Last:
Price: 2.21
Change (%): + 0.07 (3.27)
Volume: 1,145,289 |
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Terra Tech Corp. Granted Phase I Cultivation, Manufacturing and Distribution Permits for its Three Santa Ana, CA Locations
Company to commence build-out of cultivation and extraction facilities, which is expected to drive growth in its ‘IVXX’ wholesale business and support full vertical-integration at its Southern California operations
IRVINE, Calif., Sept. 24, 2018 (GLOBE NEWSWIRE) - Terra Tech Corp. (OTCQX: TRTC), (“Terra Tech” or the “Company”) a vertically integrated cannabis-focused agriculture company, is pleased to announce that the City of Santa Ana has granted its East Dyer Road, East Carnegie Avenue and South Tech Center Drive locations vertically-integrated Phase I permits. These permits allow the Company to commence development of cultivation, manufacturing and distribution capabilities at these locations. Moreover, upon completion of the build-out of each location’s facilities, they also confer upon the Company the right to apply for Phase II permits which are needed to commence commercial activities.
The Company is expanding its presence in Southern California as the state’s cannabis market continues its transformation from a black market economy into a multibillion-dollar, regulated market. By opening several locations across Santa Ana, each of which will benefit from vertical integration and will house the Company’s recognizable ‘Blüm’ dispensary brand, the Company is positioning itself as a major supplier of medical and adult-use cannabis to all the surrounding cities, such as Irvine, Laguna Beach and Newport Beach, all of which currently suffer from a scarcity of existing cannabis dispensaries. When completed, the Company’s expanded cultivation and extraction capabilities will allow it to ramp production of its proprietary IVXX™ cannabis products, which are grown and harvested under the safest and most beneficial conditions. All IVXX products are thoughtfully produced, rigorously tested and certified to the highest standards of potency and purity for sale at the Company’s proprietary Blüm dispensaries as well as at third party dispensaries.
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