Terra Tech Subsidiary IVXX Adds 60 New California Retailers Following New California Legislation
NEWPORT BEACH, Calif., Oct. 15, 2015 /PRNewswire/ — Terra Tech Corp. (OTCQB: TRTC) (“Terra Tech”) or (the “Company”), a vertically integrated cannabis-focused agriculture company, today announced that IVXX, the Company’s proprietary brand of premium cannabis products, is now available at 60 additional medical cannabis collectives located in Orange and San Bernardino Counties, California.
“Not only is this order the largest to-date, it also demonstrates rising brand awareness, increased store penetration, and our expanding geographic footprint,” said Derek Peterson, CEO of Terra Tech. “The market’s appetite for high-quality flowers, joints and concentrates is a testament to our long-term strategy, and this large order reaffirms the positive traction we’re seeing so far this quarter.”
This large IVXX order follows California Governor Jerry Brown’s recent signing of three bills that comprise the Marijuana Regulation and Safety Act, which establishes a Bureau of Medical Marijuana Regulation. Scheduled to go into effect in 2018, the legislation creates the framework to issue permits, tax and regulate the medical marijuana industry, and also lays the groundwork for for-profit medical cannabis operations in California.
“The Marijuana Regulation and Safety Act laws are a true milestone for the industry,” continued Mr. Peterson. “They mark the beginning of a new era for the IVXX brand, Terra Tech and the medical cannabis sector as a whole. When they go into effect, Terra Tech’s subsidiary IVXX will no longer be required to operate on a not-for-profit basis.”
IVXX products are only available to qualified patients through permitted medical cannabis dispensaries that are in full compliance with California Prop 215, SB 420 sections 11362.5 & 11362.7 of HSC. The company has also launched a full website, IVXX.com, in support of the brand. Through the website, patients and brand enthusiasts will be able to learn more about the products offered by IVXX, find local retailers, as well as purchase IVXX branded gear. The Oakland-based lab will be producing all of the concentrates for IVXX.
About Terra Tech
Terra Tech Corp. (TRTC) through its wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners. Our complete product line is available at specialty retailers throughout the United States, and via our website. Through its 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, Krogers and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, Pennsylvania and the Midwest. MediFarm LLC is focused on medical cannabis businesses throughout Nevada. IVXX LLC is a wholly owned subsidiary that produces medical cannabis extracted products for regulated medical cannabis dispensaries throughout California.
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For more information about Terra Tech Corp visit: http://www.terratechcorp.com/
For more information about IVXX visit: http://ivxx.com/
Visit us on Facebook @ https://www.facebook.com/terratechcorp/timeline
Follow us on Twitter @terratechcorp
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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.
Philip Carlson / Allison Monat
KCSA Strategic Communications