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Terra Tech Announces Opening Of Fourth Nevada Medical Cannabis Dispensary

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Grand Opening in Reno, Nevada on January 12, 2017

NEVADA: Terra Tech Corp., a vertically integrated cannabis-focused agriculture company,  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.

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.

Blum Opens Second Dispensary in Las Vegas, Grand Opening Is August 20, 2016

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NEVADA:  Terra Tech Corp, a vertically-integrated, cannabis-focused agriculture company, today announced the Grand Opening of its latest Blüm retail dispensary, to be located on 3650 South Decatur Boulevard, Suite 6 & 7, Las Vegas, Nevada, will be held on August 20, 2016. This is Terra Tech’s second retail location in Nevada and follows the opening of the Western Las Vegas Dispensary in April 2016. The Company also operates a Blüm dispensary in Oakland, California.

The 4,800 square foot facility is located on Decatur Boulevard, on the west side of the Las Vegas metropolitan area. The Decatur Boulevard Blüm 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.

Derek Peterson, CEO of Terra Tech, commented, “Once the final city and state inspection has been completed, we will have the South Decatur Boulevard store Grand Opening on August 20th. We invite investors and media to come to the Grand Opening and take a look at our selection of premium medical cannabis products.”

Mr. Peterson continued, “This November, the recreational marijuana initiative is on the ballot in Nevada. We have purposefully selected this location to take advantage of not just local tourism, but also demand from the sizeable local residential population which is anticipated to significantly increase should recreational use of cannabis be legalized. With the strategic placement of this dispensary we are well positioned to treat our patients with the highest grade cannabis products in a prime location.”

The dispensary will be operated through the Company’s subsidiary, MediFarm, LLC, and the Grand Opening, on August 20, 2016, will mark the official launch of the dispensary. The Company also plans to open a third dispensary on Desert Inn Road near the Las Vegas Convention Center, and another dispensary in Reno, northwest Nevada by the end of the summer season.

SEC Allows Pot Dealer To Register Stock

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NEW YORK:  The U.S. Securities and Exchange Commission has allowed a share registration to proceed for a company whose business model includes cultivation and sale of marijuana, which are both illegal under federal law, though legal under some state laws.

This approval appears to be the first green light for a share registration by a company in this line of business and could set a precedent for marijuana dealers to access the equity markets, but the agency’s ambivalence about such a business model is clear from the way it handled the registration.

Irvine, Calif.-based Terra Tech Corp. TRTC, +2.35%   recently received approval for its disclosures and the registration of its shares.

Another company planning to cultivate and sell marijuana also has a pending application with the SEC, a source familiar with the company said.

 

 

 

Marijuana Growers Sprout On Wall Street As Pot Goes Public

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CALIFORNIA:  Derek Peterson may soon become the first CEO of a public company that cultivates, distributes and sells marijuana.

Terra Tech Corp., based in Irvine, California, won approval last week from the Securities and Exchange Commission to raise $6.8 million to build and operate medical marijuana operations in Nevada, where the company secured preliminary approvals.

The company will seek to raise about $7 million more later in the year, Peterson said.

The company’s MediFarm division, which plans to grow, distribute and sell marijuana in Reno, Las Vegas and other parts of the state, has blazed new ground in the on-going debate over marijuana legalization by gaining acceptance from a federal agency, the SEC, which is tasked with safeguarding public markets and investors. The federal government, after all, still considers marijuana to be as dangerous as heroin or LSD.

 

Pot Legalizations Push U.S. Closer To Weed Business Boom

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DISTRICT OF COLUMBIA:  Voter legalization of recreational marijuana in two more states plus the District of Columbia this week mounts pressure on the federal government to decriminalize cannabis — nudging America closer to a weed business boom, pot advocates and opponents agree.

A federal law banning marijuana sales remains the biggest blockade to the dawn of a national cannabis industry. That law causes many banks to avoid dealing with legal pot retailers, forcing weed entrepreneurs in Colorado and Washington to run cash-only operations — a daily danger, the owners say.

“But the direction voters are moving in is obvious, and with additional states it’s now harder to call Colorado and Washington ‘experiments,’” said Derek Peterson, founder and CEO of Terra Tech Corp. The Irvine, California company focuses on local farming and medical cannabis — likely the first publicly traded company, Peterson said, to hold a medical marijuana license.

“These are the same voters who elect our federal lawmakers, which I think is the major reason you’re seeing such a quick and dramatic turnaround on these policies in Congress,” Peterson said.