Blum Oakland Acquisition Sparks Terra Tech Corp (OTCMKTS:TRTC)

0

Terra Tech Corp (OTCMKTS:TRTC) is making a highly explosive move up on accelerating volume since reversing off $0.0795 lows. When a stock such as TRTC heats up Investors pay attention; TRTC has a long history of big moves running from $0.25 to highs near $1.50 back in early 2014 with the rest of the sector.

The big move on TRTC comes after the Company announced a definitive merger agreement under which Terra Tech will acquire 100% of the outstanding shares of Black Oak Gallery, DBA: Blum Oakland, an established, retail medical cannabis dispensary in Oakland, CA.

Terra Tech Corp (OTCMKTS:TRTC) is a vertically-integrated, cannabis-focused agriculture company that manufactures state-of-the-art Growhouse equipment that is now sold word-wide through its subsidiary GrowOpTechnology Ltd. Through its own growing facilities and its alliance with hydroponic farmers the Company sells its Edible Garden produce to supermarkets such as Demoulas and Shoprite supermarket in states such as New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania.

TRTC is also a great place to be when pot stocks heat up considering its performance the last time that happened; recent catalysts for another run on pot stocks include DEA being told by California judge to stop interfering with dispensaries, 6,000 non-violent drug offenders released Nov 1st, New York opening medical MJ dispensaries January, Australia lifting ban on medical MJ. Another really big one is Canada’s new Prime Minister Justin Trudeau who has been promising legalization immediately in Canada.

We have been covering TRTC for years; the Company was initially incorporated as Private Secretary, Inc. on July 22, 2008 in the State of Nevada. The Company planned to develop a software program that would allow for automatic call processing through VoIP technology. On January 27, 2012, the Company filed an amendment to its Articles of Incorporation changing its name to Terra Tech Corp and a new pot stock was born.

The Company is run by Derek Peterson a former Vice President at Morgan Stanley. He left Wall Street because he saw a huge opportunity in medical marijuana. His vision is setting up growing facilities in various states to grow herbs such as basil and thyme with plans to switch to Marijuana production as state laws permit.

To Find out the inside Scoop on TRTC Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

TRTC acquisition of Blum Oakland is a game changer for the Company; Blum Oakland, which holds over 42,000 registered patients, has been operating since November 2012 and services close to 1,000 patients each day. The acquisition includes Blum’s fully integrated supply chain, which consists of a sophisticated onsite cultivation facility, its portfolio of proprietary strains, as well as its high volume retail storefront. Trailing 12-month non-GAAP revenue for Blum Oakland is over $14 million, which tracks the revenue reported by Blum Oakland in its associated sales tax and marijuana tax reporting and payments.

Upon completion of the merger, general terms of which are detailed below, Terra Tech stockholders will own 100% of the combined company.

The purchase price of Blum Oakland is 1.5 times forward-looking revenue for the 12 months following the closing of the merger. To protect stockholders, 80% of the equity will be held in escrow subject to performance adjustments at the end of the 12-month term. The anticipated closing date for the merger is not later than March 31, 2016. Blum Oakland and all of its shareholders are obligated to close the merger by that date, while Terra Tech retains the option to cancel the merger through March 1, 2016, pending further due diligence. Terra Tech will file its Current Report on Form 8-K outlining the formal terms of the merger and related disclosure within the required time frames after closing.

CEO Derek Peterson said “Today, we can proudly claim the title of the only US-based, publicly-traded company that touches every aspect of the cannabis lifecycle—from cultivation, to extraction, to branding, and now, with the acquisition of Blum, to retail sale,”

He continued ”In addition to enhancing our cash-flow, this merger positions us to capitalize on the new regulatory landscape in California, which will change significantly with the implementation of the Marijuana Regulation and Safety Act in 2016.”

We have a Monster Pick Coming. Subscribe Right Now!

Currently trading at a $39 million market valuation TRTC has $1.3 minimal in the treasury, manageable debt and significant revenues reporting $7,805,994 in sales for the 9 months ended September 30, 2015. As I have been saying TRTC is a great place to be when pot stocks heat up and are masters at selling the sizzle on the sector and getting their story into the national media spotlight with such news outlets as the Wall Street Journal, National Geographic, Fox Business News, The Huffington Post, the Daily Telegraph and CTV news all featuring the TRTC story in the past. TRTC acquisition of Black Oak Gallery, DBA: Blum Oakland, an established, retail medical cannabis dispensary in Oakland, CA makes them the only US-based, publicly-traded company that touches every aspect of the cannabis lifecycle. We will be updating on TRTC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TRTC.

Sign Up now for our 100% FREE Penny Stock Newsletter

Disclosure: we hold no position in TRTC either long or short and we have not been compensated for this article.

Share.

Leave A Reply

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.