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| TRTC is Ahead of the Pack in Nevada |
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 Hot Stock to Watch |
Company: Terra Tech Corp (OTCQB: TRTC)
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Last:
Price: 1.02
Change (%): + 0.0225 (2.26)
Volume: 293,771 |
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Terra Tech Forms New Wholly Owned Subsidiary MediPharm LLC To Compete For Nevada Medical Cannabis Permit
Las Vegas, April 2, 2014 (GLOBE NEWSWIRE) - Terra Tech Corp (TRTC) is pleased to announce the formation of MediPharm LLC. a wholly owned Nevada LLC which has been formed for the sole purpose of competing for medical cannabis permits in the state of Nevada. In addition to the formation of the subsidiary the company is currently building out all the necessary components to apply for medical cannabis cultivation, retail and production permits as well as forming their advisory board and selecting appropriate real estate within the counties parameters.
The business licensing and special use permit process for Unincorporated Clark County will be opening in the 3rd week of April. In addition if MediPharm is selected at a county level, applications will be presented to the state of Nevada for further review and approval. The Company anticipates that process to be concluded by early June and state level selections to be made in the fourth quarter 2014. While Unincorporated Clark County is first in establishing and implementing their process other counties within the state will be opening up in the near future. Terra Tech intends on applying in multiple jurisdictions.
“This is another step forward in developing our application to obtain a permit in Nevada. We are assembling a well rounded and experienced team to assist us in the process,” explains Derek Peterson CEO of Terra Tech.
The company will continue to give updates throughout the application process.
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