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 Hot Stock to Watch |
Company: Terra Tech Corp (OTCQB: TRTC)
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Last:
Price: 0.585
Change (%): + 0.0143 (2.51)
Volume: 8,635,576 |
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Terra Tech Announces the Launch of GrowMass Program and 6,500,000 Dollar Convertible Debenture Financing
Irvine, Feb. 6, 2014 (GLOBE NEWSWIRE) - Terra Tech Corp (TRTC), a fast-growing urban agricultural company, through their subsidiary GrowOp Technology, is pleased to announce the launch of their GrowMass program. The program is designed to allow qualified permit winners throughout Massachusetts to have access to high quality, commercial grade cultivation equipment and to defer payments for up to 12 months. In addition the Company is offering access to GrowOp’s design team, at no additional cost, to help consult on the fabrication and implementation of their cultivation facility.
“I understand how expensive of an undertaking these facilities are as I own a medical cannabis dispensary,” says Derek Peterson, CEO Terra Tech Corp. “Our hope is by freeing capital up these entrepreneurs can build a first class system that provides patients with quality medicine and in turn we can build long standing relationships with thriving businesses throughout the Northeast.
Last week Massachusetts announced the winners in their merit based medical marijuana permit program. Twenty winners were announced with eight more able to find alternative locations. The company understands how difficult raising capital and funding these projects are and is excited about creating a program that allows permit holders to procure the bulk of the equipment they need while deferring the payments out into the future when they are operational and better able to support the capital expenditure.
Under the terms of the program, qualified permit winners will have available to them the full line of commercial equipment that GrowOp offers as well as access to their expertise in design and implementation. GrowOp entered the market in early 2010 with the launch of the BIG BUD, a line of fully automated, mobile hydroponic chambers, which were featured on Fox News, CNN, National Geographic and more. Since then the company has built and constructed multiple grow facilities including a 5-acre Dutch style hydroponic cultivation facility for food production located in New Jersey.
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