Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

Terra Tech Corp. TRTC Announces Changes in Board of Directors

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Terra Tech Corp. Announces Changes in Board of Directors

 

BUZ INVESTORS  PRESS RELEASE  . TRTC Announces Changes  Terra Tech Corp. (TRTC) (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, today announced Michael Vande Vrede, Steven Vande Vrede, and Amy Almsteier, one of the original co-founders of the Company, have resigned from Terra Tech’s Board of Directors, effective June 1, 2017.
Derek Peterson, Kenneth Vande Vrede, Michael Nahass, Kenneth Krueger and Steven Ross will remain on the Board of Directors. The Company plans to add more independent directors to the Board to enhance its independent oversight by incorporating best practices in corporate governance.

Derek Peterson, CEO of Terra Tech Corp., commented, “I would like to thank Mike, Steven and Amy for their contributions to Terra Tech. They have provided valuable guidance to Terra Tech since it was a fledgling cannabis company and helped to develop the Company into one of the most recognizable names in the industry. We collectively decided this is the right time for them to step down to support the Company’s commitment to best practices in corporate governance, which we believe is paramount to shareholder interests as the Company develops its nationwide presence and positions itself for an up-listing to a major stock exchange when the opportunity presents itself.”



TRTC Announces Changes

 

To be added to the Terra Tech email distribution list, please email TRTC@kcsa.com with TRTC in the subject line.

About Terra Tech

Terra Tech Corp. (TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Blüm’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blüm offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Kroger, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada.

For more information about Terra Tech Corp visit: http://www.terratechcorp.com/
For more information about IVXX visit: http://ivxx.com/
For more information about Blüm Nevada visit: http://letsblum.com
For more information about Blüm Oakland visit: http://blumoak.com/
Visit us on Facebook @ https://www.facebook.com/terratechcorp/timeline
Follow us on Twitter @terratechcorp
For more information about Edible Garden visit: http://www.ediblegarden.com/
Visit Edible Garden on Facebook @ https://www.facebook.com/ediblefarms?fref=ts
Visit IVXX on Facebook @ https://www.facebook.com/ivxxbrand?fref=ts

Cautionary Language Concerning Forward-Looking Statements

Statements in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Terra Tech Corp.’s filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to Terra Tech Corp.’s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified sales representatives, (iv) competition, pricing and development difficulties, (v) ability to integrate GrowOp Technology Ltd. into its operations as a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Terra Tech Corp.’s website does not constitute a part of this release.

Business Description
Industry: Farm & Construction Machinery » Farm & Construction Equipment NAICS: 333111 SIC: 3523
Compare: NAS:(ASV), OTCPK:(FBRKF), OTCPK:(AMMJ), OTCPK:(SRNA), OTCPK:(TAKD), NAS:(ARTW), NAS:(GENC), OTCPK:(INQD), NAS:(CMCO), NYSE:(TWI), OTCPK:(AGGZF), NYSE:(MTW), NYSE:(LNN), NYSE:(ALG), OTCPK:(LONKF), NAS:(ASTE), OTCPK:(WKRCF), NYSE:(JOY), NYSE:(TEX), OTCPK:(ZLIOY) » details
Headquarter Location: USA
Terra Tech Corp is an integrated cannabis-focused agriculture company which is engaged in cultivating and providing medical cannabis, as well as other agricultural products, such as herbs and leafy greens using classic Dutch hydroponic farming methods.

Terra Tech Corp was incorporated in Nevada on July 22, 2008, under the name Private Secretary, Inc. The Company changed its name to Terra Tech Corp. on January 27, 2012. On February 9, 2012, the Company completed a reverse-triangular merger with GrowOp Technology Ltd. It creates sustainable solutions for food production, indoor cultivation, rare and exotic plants, and agricultural research and development. The Company through its wholly-owned subsidiary is engaged in the design, marketing and sale of hydroponic equipment with proprietary technology to create sustainable solutions for the cultivation of indoor agriculture. It is also a retail seller of locally grown hydroponic produce through its wholly-owned subsidiary, Edible Garden Corp. Its operating and reportable segments are currently organized around the products that the Company offers as part of its core business which are Herbs, Produce and Floral Products and Cannabis Dispensary, Cultivation and Production. Its locally grown hydroponic produce is started from seed and is grown in environmentally controlled greenhouses. When harvested the products are sold through retailers targeted to customers seeking fresh produce locally grown using environmentally sustainable methods. Its cannabis products are currently produced in its lab in California and will be sold in California. The Company was granted eight provisional permits in Nevada and has received approval from the local authorities with respect to six of the eight permits. Its products include Environmental Controllers & Timers, Tents & Film, Ducting & Filtration, Fans, Ballasts, Bulbs, Reflectors, Nutrients, Portable and Hydroponic Trailers. Its subsidiary GrowOp Technology Ltd operates in two distinct markets such as commercial agriculture and retail agriculture. There are numerous manufacturers that are available to GrowOp Technology Ltd, and therefore, it is not limited in the number of suppliers available nor dependent on any one supplier. In the retail agriculture market, three main manufacturers and distributors currently dominate the market in which GrowOp Technology competes which includes Sunlight Supply, Hydrofarm, and BWGS. It’s another subsidiary Edible Garden’s main competitors are Shenadoah Growers and Sun Aqua Farms. To a lesser extent, Edible Garden competes with Green Giant, Del Monte, Rock Hedge Herbs, and Infinite Herbs.

 

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Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

$TRTC Reports First Quarter 2017 Results

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36px) Fz(25px)--sm Fz(32px) Mb(17px)--sm Mb(20px) Mb(30px)--lg Ff($ff-primary) Lts($lspacing-md) Fw($fweight) Fsm($fsmoothing) Fsmw($fsmoothing) Fsmm($fsmoothing) Wow(bw)" data-reactid="3">Terra Tech Reports First Quarter 2017 Results

Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

BUZ INVESTORS PRESS RELEASE  TRTC Reports First Quarter Terra Tech Corp. (TRTC) (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture

company, today announced its first quarter 2017 financial results for the period ended March 31, 2017.
Derek Peterson, Chief Executive Officer of Terra Tech Corp., commented, “We are pleased to see the impact of our expansion strategy to open cannabis dispensaries in core target markets drive strong sales in the first quarter. We also reported higher sales of our wholesale IVXX-branded cannabis products as a result of its improved brand recognition coupled with expanded distribution channels. Total first quarter revenues were $6.8 million, representing a 340% increase over the prior year period and we are on track to meet our revenue guidance of $38 – $40 million for 2017.”

“This quarter saw the opening of our fourth Nevada-based Blüm dispensary, located in Reno. This location benefits from limited local competition and we are pleased to record excellent initial sales from Blüm, Reno, which was our best-performing dispensary in the quarter. We consider Nevada to be a major growth opportunity for the Company and are proud to have established a strong presence in the State of Nevada, across both Reno and Las Vegas. This week, the Nevada Tax Commission adopted temporary regulations to allow the state to issue recreational marijuana licenses as early as July 1, which should pave the wave for Terra Tech to break into the recreational market in the second half of 2017. This is a source of great excitement for us.”



TRTC Reports First Quarter

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“Looking ahead, we also remain focused on driving our expansion in the State of California, a major economy with a progressive attitude toward the cannabis sector. To support this strategic goal, we made rapid progress in the first quarter building out a new cultivation facility in Oakland, California, as well as designing both a dispensary and cutting edge production facility in San Leandro, California. We hope to have completed these projects by the end of the year. This was a strong start to the year and we are confident that our strategic growth plan, coupled with ongoing market acceptance of cannabis, will drive Terra Tech’s growth in 2017 and beyond.”

Financial Update:

Total revenues generated for the quarter ended March 31, 2017 increased 340% to approximately $6.8 million, compared to $1.5 million in the same period in 2016. The increase in first quarter revenues was primarily attributable to sales from the Blüm dispensary in Oakland, California, sales from the Company’s four Nevada-based Blüm Dispensaries and sales of IVXX cannabis products. This was partially offset by a decrease in Edible Garden sales due to the expiration of the Company’s contract with a grower of floral products.
Gross profits for the three months ended March 31, 2017 were approximately $359,000, an increase of approximately $225,000 compared with the prior year period. Gross margin for the first quarter of 2017 amounted to approximately 5%, compared to a gross margin of approximately 9% for the first quarter of 2016. Margins were impacted by increased spending on the development of new forms of extracted cannabis products and the refinement of Terra Tech’s propriety recipe of extraction.
Selling, general and administrative expenses for the first quarter of 2017 amounted to approximately $6.4 million, compared to approximately $2.0 million for the first quarter of 2016. The increase was primarily due to an increase in salaries due to new hires associated with the Blüm dispensaries. Other expenses include an increase in consultants’ fees in connection with the Nevada business and an increase in amortization expense due to intangible assets acquired in the Black Oak Gallery acquisition
We realized an operating loss of approximately $6.0 million for the first quarter of 2017, compared to an operating loss of approximately $1.9 million for the first quarter of 2016.
The net loss for the quarter ended March 31, 2017 was approximately $10.1 million or $0.02 per share compared to a loss of approximately $4.1 million or $0.01 per share for the first quarter of 2016.
Stockholders’ equity for the first quarter of 2017 amounted to approximately $49.8 million, compared to approximately $52.2 million as of December 31, 2016.
Short-term debt as of March 31, 2017 amounted to approximately $505,000, compared with approximately $564,000 as of December 31, 2016. Long term debt increased from $1.4 million to $1.7 million during the first three months of 2017, due to additional borrowings used for working capital and capital expenditures.
Business Update:

Cannabis Segment Updates:Opened Blüm, Reno cannabis dispensary to the public on January 2nd, followed by Grand Opening on January 12th.
Completed demolition work and design work for both a dispensary and cutting edge production facility, in addition to a community meeting space, for a dispensary and production facility under construction in San Leandro, California.
Commenced construction of a new cultivation facility in Oakland, California.
Edible Garden Updates:Increased distribution of our Organic Superleaf line at our Northeast supermarkets.
Increased our organic line of products by adding Organic butter head lettuce.
Continue to implement new technology to improve efficiencies, production and margins.
Miscellaneous Operational Updates:Derek Peterson, CEO, participated as a panelist at the California Cannabis Industry Association’s (CCIA) 2nd Annual Policy Conference on March 7th, 2017, and MJIC Media’s 3rd Annual Spring Cannabis Business Expo on March 8th, 2017.
Conference Call

The company will also host a conference call today, Thursday, May 11, 2017 at 9:00 AM Eastern to discuss its financial results and the outlook for 2017.

Dial-In Number: 1-857-232-0157

Access Code: 422095

For those unable to participate in the live conference call, a replay will be available at http://smallcapvoice.com/blog/trtc

An archived version of the webcast will also be available on the investor relations section of the company’s website.

About Terra Tech

Terra Tech Corp. (TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, MediFarm LLC and GrowOp Technology. Blüm’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blüm offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Kroger, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies.

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Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

$TRTC to Present at the 2017 Canaccord Genuity Cannabis Conference

Terra Tech Corp. to Present at the 2017 Canaccord Genuity Cannabis Conference on May 10th

Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

BUZ INVESTORS PRESS RELEASE  TRTC to Present Terra Tech Corp. (TRTC) (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, today announced that its Chairman and Chief Executive Officer, Derek Peterson, will present at the 2017 Canaccord Genuity Cannabis Conference on Wednesday, May 10th at 1PM Eastern at The Intercontinental Barclay New York in New York City.
The Corporate Presentation will be Webcast at http://wsw.com/webcast/canaccord27/trtc.

Derek Peterson, Chairman and CEO of Terra Tech Corp., commented, “Canaccord is one of the leading investment banks with expertise in the cannabis sector and we are pleased to be invited to present at its conference. Terra Tech continues to go from strength to strength and we look forward to educating interested investors about our business.”



TRTC to Present

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To be added to the Terra Tech email distribution list, please email TRTC@kcsa.com with TRTC in the subject line.

About Terra Tech

Terra Tech Corp. (TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, MediFarm LLC and GrowOp Technology. Blüm’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blüm offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Kroger, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies.

For more information about Terra Tech Corp visit: http://www.terratechcorp.com/
For more information about IVXX visit: http://ivxx.com/
For more information about Blüm Nevada visit: http://letsblum.com
For more information about Blüm Oakland visit: http://blumoak.com/
Visit us on Facebook @ https://www.facebook.com/terratechcorp/timeline
Follow us on Twitter @terratechcorp
Follow us on Instagram @socal_IVXX
For more information about Edible Garden visit: http://www.ediblegarden.com/
Visit Edible Garden on Facebook @ https://www.facebook.com/ediblefarms?fref=ts
Visit IVXX on Facebook @ https://www.facebook.com/ivxxbrand?fref=ts
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Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

$TRTC to Webcast, Live, at VirtualInvestorConferences.com on April 6th

Terra Tech Corp. to Webcast, Live, at VirtualInvestorConferences.com on April 6thCompany invites individual and institutional investors as well as advisors to attend interactive real-time virtual VirtualInvestorConferences.com

BUZ INVESTORS Terra Tech Corp. to Webcast, Live TERRA TECH CORP (OTCQX: TRTC), a vertically integrated cannabis-focused agriculture company,

BUZ INVESTORS Terra Tech Corp. to Webcast, Live TERRA TECH CORP (OTCQX: TRTC), a vertically integrated cannabis-focused agriculture company, announced today that Derek Peterson, Chief Executive Officer, will present live at VirtualInvestorConferences.com on April 6, 2017.

DATE: Thursday, April 6th, 2016
TIME: 12:15 pm EDT
LINK: https://tinyurl.com/0406prepr

This will be a live, interactive online event where investors are invited to ask the company questions in real-time – both in the presentation hall as well as the association’s “virtual trade booth.” If attendees are not able to join the event live on the day of the conference, an on-demand archive will be available for 90 days.



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Terra Tech Corp. to Webcast, Live

It is recommended that investors pre-register and run the online system check to save time and receive event updates.

Derek Peterson commented, “Terra Tech is the only U.S.-based, publicly-traded company that touches every aspect of the cannabis lifecycle—from cultivation, to extraction, to branding, to retail. This ‘seed to sale’ business model uniquely positions us to capitalize on the growing cannabis market at a time when more than half of U.S. states have some form of legalized cannabis and public perception has overwhelmingly shifted in favor of a legal, regulated market place. We invite shareholders, as well as investors who are interested in the cannabis industry, to join our presentation at the Virtual Investor Conference to hear about how Terra Tech is positioned to capture market share in this exciting emergent industry.”

To be added to the Terra Tech email distribution list, please email TRTC@kcsa.com with TRTC in the subject line.

Learn more about the event at www.VirtualInvestorConferences.com.

About Terra Tech

Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, MediFarm LLC and GrowOp Technology.  Blüm’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blüm offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Kroger, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies.

For more information about Terra Tech Corp visit: http://www.terratechcorp.com/
For more information about IVXX visit: http://ivxx.com/
For more information about Blüm Nevada visit: http://letsblum.com
For more information about Blüm Oakland visit: http://blumoak.com/
Visit us on Facebook @ https://www.facebook.com/terratechcorp/timeline
Follow us on Twitter @terratechcorp
Follow us on Instagram @socal_IVXX
For more information about Edible Garden visit: http://www.ediblegarden.com/
Visit Edible Garden on Facebook @ https://www.facebook.com/ediblefarms?fref=ts
Visit IVXX on Facebook @ https://www.facebook.com/ivxxbrand?fref=ts

About VirtualInvestorConferences.com
Since 2010, VirtualInvestorConferences.com, created by BetterInvesting (NAIC) and PRNewswire, has been the only monthly virtual investor conference series that provides an interactive forum for presenting companies to meet directly with investors using a graphically-enhanced online platform.

Designed to replicate the look and feel of location-based investor conferences, Virtual Investor Conferences unites PR Newswire’s leading-edge online conferencing and investor communications capabilities with BetterInvesting’s extensive retail investor audience network.

 


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Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

$TRTC CEO Derek Peterson to Participate on Upcoming Cannabis Industry Panels

Terra Tech CEO Derek Peterson to Participate on Upcoming Cannabis Industry Panels

Terra Tech CEO Derek Peterson to Participate on Upcoming Cannabis Industry Panels

Buz Investors TRTC CEO Derek Peterson NEWPORT BEACH, CA–(Marketwired – March 03, 2017) – Terra Tech Corp. (OTCQX: TRTC) (“Terra Tech”) or (the “Company”), a vertically integrated cannabis-focused agriculture company, today announced that its CEO, Derek Peterson, will participate on two upcoming cannabis industry panels. Mr. Peterson will be a panelist at the California Cannabis Industry Association’s (CCIA) 2nd Annual Policy Conference on March 7th, 2017, and MJIC Media’s 3rd Annual Spring Cannabis Business Expo on March 8th, 2017.




OTHER STORIES BUZ TRADERS FOLLOW

TRTC CEO Derek Peterson

 

Mr. Peterson will be participating on the Emerging Market Opportunities Panel at the upcoming California Cannabis Industry Association’s (CCIA) 2nd Annual Policy Conference in Sacramento, CA. The one-day conference is an opportunity for key stakeholders, industry professionals, elected officials, business owners, and members of the grassroots who attend to discuss cannabis policy. For more information visit http://bit.ly/2mxVNr6

Mr. Peterson will also be participating on the U.S. CEO Roundtable discussion at the 3rd Annual Spring Cannabis Business Expo in San Diego, CA. The three-day Expo will feature more than a dozen thought leaders and speakers from leading public cannabis companies who will discuss the public cannabis markets. Sponsored by the Marijuana Investor Summit, the event is designed to provide a full day of education, immersing attendees in the opportunities and risks within the world of cannabis stocks. For more information visit http://www.calcanbizexpo.com/.

Derek Peterson, Terra Tech’s Chief Executive Officer, stated, “I am honored to be included among thought leaders and prominent industry spokespersons to discuss the future of the cannabis industry. As CEO of one the country’s leading vertically integrated medical cannabis companies, I am faced on a daily basis with the challenges and opportunities inherent to each stage of the cannabis lifecycle, from cultivation, to extraction, to retail. I look forward to discussing the prospects of the industry with other leaders in the cannabis sector at a time when it is undergoing rapid transformation.”

To be added to the Terra Tech email distribution list, please email TRTC@kcsa.com with TRTC in the subject line.

About Terra Tech

Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, MediFarm LLC and GrowOp Technology. Blüm’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blüm offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Kroger, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies.



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Entry into a Material Definitive Agreement, Creation of a Direct Financial Oblig Item 1.01 Entry into a Material Definitive Agreement.Securities Purchase Agreement

$TRTC Form 8-K

Entry into a Material Definitive Agreement, Creation of a Direct Financial Oblig

Item 1.01 Entry into a Material Definitive Agreement.Securities Purchase Agreement

Entry into a Material Definitive Agreement, Creation of a Direct Financial Oblig Item 1.01 Entry into a Material Definitive Agreement.Securities Purchase Agreement

On February 22, 2017, Terra Tech Corp. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an accredited investor (the “Purchaser”) pursuant to which the Company sold to the Purchaser a 12% Senior Convertible Promissory Note due August 22, 2018 (the “Note”) in the principal amount of $3,000,000 for a purchase price of $3,000,000 (the “Offering”). There were no fees or expenses deducted from the net proceeds received by the Company in the Offering. The Note and the shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) issuable upon conversion of the Note (the “Conversion Shares”) are collectively referred to herein as the “Securities.”

The Purchase Agreement contains customary representations, warranties, and covenants by, among, and for the benefit of the parties.




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Terra Tech Corp

 

Pursuant to the Purchase Agreement, the Company agreed to sell the Securities pursuant to an effective shelf registration statement on Form S-3 (Registration No 333-210673), declared effective by the Securities and Exchange Commission on August 12, 2016, and a related prospectus supplement thereto.

12% Senior Convertible Promissory Note

The Note matures on August 22, 2018 (the “Maturity Date”), less any amounts converted or redeemed prior to the Maturity Date. The Note accrues interest at a rate of 12% per annum, payable on the Maturity Date or upon any conversion, prepayment, event of default or other acceleration of payment under the Note. All interest payments under the Note are payable, at the Company’s option, in cash or shares of Common Stock.

All principal and interest due and owing under the Note is convertible into shares of Common Stock at any time at the election of the holder at a conversion price per share equal to the lower of (i) $0.2495 or (ii) 85% of the lowest daily volume weighted average price of the Common Stock in the fifteen (15) trading days prior to the conversion date (the “Conversion Price”), which Conversion Price is subject to adjustment for (i) stock splits, stock dividends, combinations, or similar events and (ii) full ratchet anti-dilution protection. Upon certain events of default, the conversion price of the Note will automatically become 70% of the average of the three (3) lowest volume weighted average prices of the Common Stock in the twenty (20) consecutive trading days prior to the conversion date for so long as such event of default remains in effect.

In addition, at any time that (i) the daily volume weighted average price of the Common Stock for the prior ten (10) consecutive trading days is $0.70 or more and (ii) the average daily trading value of the Common Stock is greater than $2,500,000 for the prior ten (10) consecutive trading days, then the Company may demand, upon one (1) day’s notice, that the holder convert the Note at the Conversion Price.

The Company may prepay in cash any portion of the outstanding principal amount of the Note and any accrued and unpaid interest by, upon ten (10) days’ written notice to the holder, paying an amount equal to (i) 110% of the sum of the then-outstanding principal amount of the Note plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of the Note; (ii) 115% of the sum of the then-outstanding principal amount of the Note plus accrued but unpaid interest, if the prepayment date is between 91 days and 180 days of the issuance date of the Note; or (iii) 125% of the sum of the then-outstanding principal amount of the Note plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of the Note.

The foregoing description of the Purchase Agreement and the Note is qualified in its entirety by reference to the full text of such documents, copies of which are filed as Exhibit 10.42 and Exhibit 4.14, respectively, to this Current Report on Form 8-K (this “Report”) and which are incorporated by reference herein in their entirety.

 

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a RegistrantThe information disclosed under Item 1.01 of this Report is incorporated by reference into this Item 2.03 in its entirety.

 

Item 9.01 Financial Statements and Exhibits.(d) Exhibits.4.14 Form of 12% Senior Convertible Promissory Note

10.42 Form of Securities Purchase Agreement, dated as of February 22, 2017



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Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

$TRTC Terra Tech Announces Opening of Fourth Nevada-based Medical Cannabis Dispensary

Terra Tech Announces Opening of Fourth Nevada-based Medical Cannabis Dispensary

Terra Tech Announces (OTCQX: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time

Terra Tech Announces (OTCQX: TRTC) (“Terra Tech”) or (the “Company”), a vertically integrated cannabis-focused agriculture company, today announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time. The Company will also host a Grand Opening for the dispensary on Thursday, January 12th, 2017, at 9:00AM PT, with the ribbon cutting scheduled for 1:00 PM PT. Investors, media and customers are invited to attend the event to view the dispensary’s selection of premium medical cannabis products.

The Blüm dispensary in Reno, Nevada is currently open to the public for preregistration. The dispensary will offer the Company’s proprietary IVXX™ brand of premium medical cannabis, flowers, shatters, waxes and oils, among other high-quality cannabis products from a range of reputable providers of superior grade medical cannabis.

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Terra Tech Announces

 

Derek Peterson, CEO of Terra Tech, stated, “It is our great pleasure to announce that Blüm Reno has successfully completed all of its inspections with the State of Nevada and officially received its Nevada State Medical Marijuana Establishment (“MME”) Registration Certificate. Our dispensary in Northern Nevada successfully received the MME Registration Certificate without one deficiency and I am proud of our team for all its hard work getting us to this stage. This is our fourth dispensary in Nevada to open in less than a year, giving us a strong presence in the state. Moreover, in November 2016, Nevada took the historic step of approving the legalization of recreational cannabis. We believe that our efforts to establish Blüm as a leader in the medical cannabis market have uniquely positioned the Company to capitalize on the emerging market for legal cannabis, where we see significant opportunity for growth.”

The Reno, Nevada Blüm dispensary follows the opening of the Desert Inn Dispensary in October, 2016, the South Decatur Boulevard, Las Vegas Dispensary in August, 2016 and the Western, Las Vegas Dispensary in April, 2016. The Company has also operated a Blüm dispensary in Oakland, California, since April, 2016.

Blüm Reno’s hours of operations will be:

Sunday – Thursday: 9:00 AM to 10:00 PM PT

Friday – Saturday: 9:00 AM to 12:00 AM PT

To be added to the Terra Tech email distribution list, please email TRTC@kcsa.com with TRTC in the subject line.

About Terra Tech

Terra Tech Announces

Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, MediFarm LLC and GrowOp Technology. Blüm’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blüm offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley’s, Meijer, Kroger, and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. Terra Tech’s MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies.

 

 

 

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