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| The Market Responds Positively to Recent TRTC News About Adult Use Cannabis Sales in California Kicking Off |
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 Hot Stock to Watch |
Company: Terra Tech Corp (OTCQX: TRTC)
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Last:
Price: 0.4518
Change (%): + 0.0648 (16.75)
Volume: 35,741,546 |
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UPDATE - Terra Tech Corp. to Commence Adult Use Cannabis Sales in California on January 1, 2018
Terra Tech granted temporary adult-use licenses by State of California
IRVINE, CA - (Marketwired - January 01, 2018) - Terra Tech Corp. (OTCQX: TRTC) (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, today announced that it has received State of California Temporary Authorization to distribute and retail cannabis, and expects to receive authorizations to cultivate and manufacture cannabis for California’s adult-use and medical markets, effective January 1, 2018. Terra Tech plans to commence adult-use cannabis sales to the California market immediately through its Blüm retail dispensaries located in Oakland and Santa Ana.
Terra Tech first started selling medical cannabis products to patients in California through its Blüm dispensary in Oakland. In anticipation of adult-use sales, the Company opened a second Blüm retail location in Santa Ana, California in September, 2017 and is currently constructing a Blüm dispensary in San Leandro, which is expected to open to the public in early 2018. The Company is also expanding its cultivation facilities through its ‘Craft Cultivation’ model, and has signed two craft cultivators, based in Honeydew and Salinas, to ramp production of the Company’s brand of premium cannabis. The Company’s IVXX cannabis is grown and harvested under the safest and most beneficial conditions, free of toxic pesticides, harmful molds and chemical residues. All products are rigorously tested and certified to the highest standards of potency and purity.
“California has the oldest medical cannabis program in the nation and has the largest population out of any state in America. This adult-use license allows us to significantly expand our potential customer base in California beyond the medical market,” commented Derek Peterson, Chief Executive Officer of Terra Tech. “Terra Tech is one of only a handful of companies that has been issued this adult-use license in time for the Jan 1st start date. We believe this first mover advantage will enable us to grow our brand and gain traction with new customers in what is expected to be the nation’s largest cannabis market. Over the past several months we have worked diligently to expand both our retail presence and our cultivation facilities to prepare us for this exciting opportunity and we look forward to capitalizing on our progress to grow sales and build value for shareholders.”
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