Terra Tech Corp. Signs Second Craft Cultivator in State of California
COMPANY SIGNS CANNABIS CRAFTSMAN TO CULTIVATE ALL-NATURAL, SUSTAINABLY PRODUCED CANNABIS
Terra Tech Corp. (OTCQX: TRTC) (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, today announced that it has signed its second Craft Cultivator to grow the Company’s proprietary high grade “IVXX” cannabis flowers and oils. The farm, Cultivar Inc., is located in Salinas, California and is approved for up to six acres (approximately 244,000 square feet) of cannabis cultivation, to be grown in high tech, climate-controlled greenhouses.
This new partnership follows the launch of Terra Tech’s “Craft Cultivation” model in May 2017, when the Company signed its first Craft Cultivator, an experienced cannabis cultivator in Honeydew, California. By partnering closely with these carefully selected teams of experienced and trusted cultivators, Terra Tech can ensure its IVXX cannabis is grown and harvested under the safest and most beneficial conditions, while effectively managing costs.
Derek Peterson, CEO of Terra Tech Corp., commented, “We selected Cultivar to be our newest Cannabis Craftsman as it uses an all-natural cultivation methodology that upholds the high standards associated with our proprietary IVXX brand, including sustainable farming practices and the production of pesticide-free cannabis products. The cultivators at Cultivar, Inc. have their cultivation, nursery and manufacturing operations all on site to ensure quality-control, and its shipping logistics infrastructure already in place to support an immediate ramp in IVXX production.”
Mr. Peterson concluded, “California is a major emerging market for cannabis consumption, with adult-use sales expected to begin in 2018. Developing our craft cultivation business model through partnerships such as this agreement with Cultivar, Inc. enables Terra Tech to expand its cultivation footprint and product supply while maintaining control over costs, with a view to driving improved margins. We are moving rapidly to grow market share and to improve patient access to high-quality and effective medical cannabis products as the market continues to open up.”
The partnership with Cultivar, Inc. is fully compliant with the Medical Cannabis Regulation and Safety Act (“MCRSA”) and will allow Terra Tech to expand its cultivation footprint throughout the state of California. Terra Tech uses a responsible and environmentally sustainable cultivation methodology to ensure its proprietary IVXX strains are carefully selected and grown to minimize risks to people and the environment. IVXX cannabis is grown and harvested free of toxic pesticides, harmful molds and chemical residues. All products are thoughtfully produced, rigorously tested and certified to the highest standards of potency and purity.
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