IRVINE, Calif., July 26, 2018 (GLOBE NEWSWIRE) -- Terra Tech Corp. (OTCQX:TRTC) (“Terra Tech”
or the “Company”), a vertically integrated cannabis-focused agriculture company, is pleased to announce that it has secured a 25%
ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. On July 23, 2018, The
Healing Tree Collective was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa
Ana. The remaining 75% of The Healing Tree Collective, and therefore the associated permit, is held by other members of the
collective, with whom Terra Tech partnered in order to complete the permit application process.
Under the terms of the agreement between Terra Tech and the other members of The Healing Tree Collective, Inc,
Terra Tech covered the costs of the permit application and Terra Tech’s wholly-owned subsidiary, Black Oak Gallery, will be
responsible for managing all of the facility’s operations, including hiring decisions. The facility is located at 3222 W. Pendleton
Ave, Santa Ana, California, an area of Santa Ana in which Terra Tech did not previously have a presence.
Derek Peterson, CEO of Terra Tech, commented, “We are pleased to have leveraged our know-how and experience in
the Santa Ana market to secure this retail permit with The Healing Tree Collective, without needing to expend significant time or
resources to do so. As the cannabis market continues to mature we expect these permits to become more valuable. We believe that
maximizing our first mover advantage by securing a stake in this permit may lead to additional revenue opportunities in the medium
and longer term.”
This follows the Company’s announcement earlier this week that it was granted two other permits by the City of
Santa Ana to operate one retail dispensary on Dyer Road and one on Carnegie Avenue in Santa Ana, California.
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About Terra Tech
Terra Tech Corp. (OTCQX:TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible
Garden, and MediFarm LLC. Blüm’s retail and medical cannabis facilities provide the highest quality medical cannabis to patients
who are looking for alternative treatments for their chronic medical conditions as well as premium cannabis to the adult-use market
in Nevada and California. Blüm offers a broad selection of 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
cannabis-extracted products for regulated medical cannabis dispensaries throughout California and medical and adult-use
dispensaries in Nevada. 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, Ahold, Aldi, Meijer, Kroger, Stop & Shop and
others nationwide. Terra Tech’s MediFarm LLC subsidiaries are focused on medical and adult-use 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/
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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.
CONTACTS
Terra Tech Corp.
Philip Carlson
KCSA Strategic Communications
TRTC@kcsa.com
212-896-1238