Las Vegas, May 5, 2014 (GLOBE NEWSWIRE) — Terra Tech Corp (TRTC) subsidiary, MediFarm LLC, has completed filings for the special use permit process for medical marijuana licensing in unincorporated Clark County, Nevada. In addition, on April 22, 2014, MediFarm LLC filed requisite information with the Clark County Department of Business Licensing for four medical marijuana applications; two Dispensaries, one Cultivation Facility and one Production Facility.
MediFarm representatives recently met with the Clark County planning department to file Land Use applications as part of the special use permit process in unincorporated Clark County. The company anticipates that Clark County Commissioners will hear applications for these special use permits on June 5th.
“This initial process in Clark County was a tremendous undertaking for our team,” explains Derek Peterson, CEO Terra Tech Corp. “As a byproduct of this process we are left with a great base to build our state level applications from. We feel well positioned to submit to the state in a timely manner should we make it through the county’s review process. In addition we are focusing on other counties throughout the state.”
Terra Tech Corp and MediFarm LLC are currently preparing for the upcoming hearings as well as the release of the State application for licensing, which is anticipated to be mid-July 2014. Once the application becomes available, there will be a 45-day period before applications will be accepted by the State of Nevada. While Unincorporated Clark County is first in establishing and implementing their process other counties within the state will be opening up in the near future. Terra Tech intends on applying in multiple jurisdictions.
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, Food Emporium and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania. MediFarm LLC is focused on securing permits to operate medical cannabis businesses in Nevada.
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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.
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