Terra Tech Corp(OTCMKTS:TRTC) reported that Blüm has been given a license by California, to commence a new retail facility. As per the update, Blüm will coordinate with San Leandro City personnel to advance a commercial cannabis facility that fulfills the needs of the inhabitants of San Leandro.
Terra Tech anticipates to begin construction of this new facility early in 2017. The Blüm location in California will considerably increase the availability of the firm’s IVXX™ brand of medical cannabis, flowers, wax, oil and shatter, along with other premium medical cannabis offerings from a range of trustworthy providers.
Derek Peterson, the CEO of Terra Tech, said that San Leandro is an interesting city on the rise and they are delighted that their team has been given a dispensary license to function there. Thanks to the initiatives of the San Leandro City’s staff and administration, they have the privilege of expanding Blüm’s retail footprint and advancing a new facility where they can increase the IVXX product line.
For the company, California is a big market and they welcome the prospect to increase the Terra Tech’s production and retail proficiencies to fulfill growing demand for superior medical cannabis offerings. The new facility really strengthens company’s presence in California.
Mr. Peterson added that a greater understanding and interest of cannabis in recent years has added to the increasing legalization movement, resulting in the emergence of new prospects for leaders in the industry. The approaching November ballot measure in California, if sanctioned, would legalize recreational cannabis in the state. It can prove as a positive change to the cannabis market, creating new jobs and attracting new business. Terra Tech, being in the list of earliest legal firms in the cannabis market, they are pleased with the support they have received in California and the positive direction they expect in the industry and city in coming period.
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