Terra Tech Corp. Provides Strategic Business Update for 2018 - Seite 2

California:

• Oakland: Terra Tech is constructing a 13,000-square-foot cultivation facility which has the capacity to produce up to one metric ton, or 2,000 pounds, of cannabis per year. The facility is expected to be fully operational by mid-2018. The Company has also operated its Blüm, Oakland dispensary since March 2016.
• San Leandro: The Company is currently constructing a Blüm dispensary and extraction facility, both of which are expected to open in the second half of 2018.
• Santa Ana: The Company started operating its Blüm, Santa Ana, dispensary in September 2017, to strong demand. Upon receiving regulatory approval from the city of Santa Ana, Terra Tech will acquire the cannabis retail permit associated with the dispensary for no additional consideration. On February 1, the Company submitted applications to open two additional retail dispensaries in Santa Ana and expects the City to announce whether these are approved in the next few months.
• In addition to its organic growth strategy, the Company continues to explore M&A opportunities in California.
• Through organic growth and its M&A strategy, the Company expects to achieve a footprint within the California market that allows for the production of up to 20,000 pounds per year of cannabis.

Nevada:

• The Company has completed construction of a new 30,000 square foot cannabis cultivation facility in Sparks, NV and a 15,000 square foot cannabis extraction facility in Reno, NV, through a joint venture with NuLeaf. The Company is awaiting final State approval to begin IVXX production at the Reno facility.
• The Company currently operates four Blüm dispensaries in Nevada that serve the adult-use and medical markets.

New Jersey:

• The Company is constructing a major new pack house in New Jersey to distribute salads and leafy greens for its subsidiary, Edible Garden.
• Building out this extensive infrastructure will also position the Company to penetrate the New Jersey cannabis market, which is expected to legalize adult use cannabis in 2018.

Reverse Split

The Company will effect a 1-for-15 reverse stock split of its outstanding common stock. The reverse stock split is intended to increase the per share trading price of Terra Tech's common stock to satisfy the minimum bid price requirement for uplisting to a major stock exchange. This will be effective for trading purposes as of the commencement of trading on Tuesday, March 13, 2018. The Company's common stock will begin trading on a post-split basis on Tuesday, March 13, 2018. The Company's trading symbol on Tuesday, March 13, 2018 will change to "TRTCD." The "D" will be removed 20 business days from that date, and the symbol will revert to the original symbol of "TRTC." As a result of the reverse stock split, every fifteen pre-split shares of common stock outstanding will become one share of common stock. The reverse split will also apply to common stock issuable upon the exercise of Terra Tech's outstanding warrants and stock options, and to holders of preferred stock. The number of authorized shares of common stock will not change. In connection with the reverse stock split, the Company's CUSIP number will change to 88102J209.