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| After a long permitting process, TRTC and Blüm expand footprint into San Leandro with 13,300 square feet of industrial space for designing both a dispensary and cutting edge production facility. |
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 Hot Stock to Watch |
Company: Terra Tech Corp (OTCQX: TRTC)
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Last:
Price: 0.261
Change (%): + 0.007 (2.76)
Volume: 4,922,028 |
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Terra Tech Provides Progress Update on San Leandro, CA Dispensary and Production Facility
NEWPORT BEACH, CA-(Marketwired - February 28, 2017) - Terra Tech Corp. (OTCQX: TRTC) (“Terra Tech”) or (the “Company”), a vertically integrated cannabis-focused agriculture company, today provided a progress update on its dispensary and production facility in San Leandro, California. The Company announced in October 2016 that its Blüm subsidiary had been granted a license by the City of San Leandro, California, to open a new retail facility.
After receiving the license from the city of San Leandro, Terra Tech executed a lease for 13,300 square feet of industrial space in San Leandro’s industrial corridor. The company is in the final stages of designing both a dispensary and cutting edge production facility, in addition to a community meeting space. Demolition of the interior space was completed on January 20, 2017. The Company is currently awaiting final approval of its Conditional Use Permit and Building Permit from San Leandro’s Planning and Building Departments. The company expects to complete construction of the dispensary by the end of the third quarter of 2017 and be open to the public by the fourth quarter of 2017. The production lab and community meeting space are anticipated to be completed in the fourth quarter of 2017 and at full production capacity by the end of the first quarter of 2018.
Derek Peterson, Terra Tech Chief Executive Officer, stated, “California is our largest market and we are pleased to expand our footprint into San Leandro, a city that is on the move and an upcoming hub of innovation. The new Blüm retail location will not only supply a range of superior grade medical cannabis products from a multitude of reputable providers, but it will also be supported by a new, state-of-the art production facility which will increase the availability of our proprietary IVXX™ brand of premium medical cannabis, flowers, shatters, wax and oils.”
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