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| TRTC's entry into the adult-use market significantly expands its potential customer base. |
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 Hot Stock to Watch |
Company: Terra Tech Corp (OTCQX: TRTC)
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Last:
Price: 0.1877
Change (%): + 0.0133 (7.63)
Volume: 7,297,726 |
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Terra Tech Corp.’s Blum Dispensaries in Nevada to Commence Adult Use Cannabis Sales on July 1st
Terra Tech’s entry into the adult-use market significantly expands its potential customer base, representing a major milestone in the Company’s development
IRVINE, CA-(Marketwired - June 29, 2017) - Terra Tech Corp. (OTCQX: TRTC) (“Terra Tech” or the “Company”), a vertically integrated, cannabis-focused agriculture company, today announced its Dual Use Marijuana business licenses have been approved by the State of Nevada Department of Taxation. This approval allows all four of the Company’s Blüm cannabis dispensaries in Nevada to commence sales of cannabis for adult-use, starting Saturday, July 1, 2017.
In November 2016, residents in the State of Nevada voted to allow regulated sales of cannabis for adult-use. In May 2017, Nevada’s Tax Commission approved temporary regulations to allow an “early start” for adult-use cannabis sales to commence July 1, 2017. This early rollout will make Nevada the fifth state with an operational adult-use market and the first to launch since last November’s election. The state’s adult-use cannabis program is projected to generate more than $70 million for the state over the first two years, according to data from the Las Vegas review Journal.
Derek Peterson, Chief Executive Officer of Terra Tech Corp., commented, “Today, Terra Tech’s cannabis operations have expanded from being purely focused on serving the needs of patients to encompassing the adult-use cannabis market in Nevada. Receiving our Dual Use Marijuana business licenses is a major milestone for the Company and we are proud that all four of our medical dispensaries were granted approval to enter the adult-use market. Our dispensaries will offer our proprietary IVXX brand of premium cannabis, flowers, shatters, waxes and oils, among other high-quality cannabis products from a range of reputable providers of superior grade medical and adult-use cannabis. As we roll out these products to the adult-use market we are committed to ensuring that medical cannabis patients will continue to receive superior service at our dispensaries.”
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