Terra Tech Corp (OTCMKTS:TRTC) just announced that on November 2, 2018 it signed a non-binding letter of intent to merge with Golden Leaf Holdings Ltd. (OTCQB: GLDFF), a cannabis company with cultivation, production and retail operations built around recognized brands.
As stated in the release, “Under the terms of the letter of intent, a wholly owned subsidiary of Terra Tech will amalgamate with Golden Leaf, with the resulting amalgamated corporation being a wholly owned subsidiary of Terra Tech. Consummation of the transaction is subject to a number of conditions, including entering into a mutually agreed definitive arrangement agreement, completion of due diligence, the waiting period for the Hart-Scott-Rodino Act, state and local regulatory approvals, approval by the Ontario courts, Terra Tech board approval, Golden Leaf receiving a positive fairness opinion, Canadian Securities Exchange (the “CSE”) approval and Golden Leaf shareholder and board approval.”
Terra Tech Corp (OTCMKTS:TRTC) trumpets itself as a vertically integrated cannabis-focused agriculture company. The company operates in two segments, Herbs and Produce Products; and Cannabis Dispensary, Cultivation and Production.
The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!
The Herbs and Produce Products segment offers hydroponic herbs, produce, and floral products.
The Cannabis Dispensary, Cultivation and Production segment operates medical marijuana retail and adult use dispensaries under the name Blüm, which provides a selection of medical and adult use cannabis products, such as flowers, concentrates, and edibles; and produces and sells a line of medical and adult use cannabis flowers, as well as a line of medical and adult use cannabis-extracted products comprising concentrates, cartridges, vape pens, and wax products in California and Nevada.
Blüm’s retail and medical cannabis facilities provide the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions as well as premium cannabis to the adult-use market in Nevada and California.
Blüm offers a broad selection of cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces cannabis-extracted products for regulated medical cannabis dispensaries throughout California and medical and adult-use dispensaries in Nevada.
The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Ahold, Aldi, Meijer, Kroger, Stop & Shop and others nationwide. Terra Tech’s MediFarm LLC subsidiaries are focused on medical and adult-use cannabis cultivation and permitting businesses throughout Nevada.
Searching for Support
We started off by noting that TRTC just hit the wires with the announcement that on November 2, 2018 it signed a non-binding letter of intent to merge with Golden Leaf Holdings Ltd. (OTCQB: GLDFF), a cannabis company with cultivation, production and retail operations built around recognized brands.
TRTC has been through some pressure over the past week. But the news has helped to repair that damage and reset the action in terms of the past week’s performance. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -3%.
Derek Peterson, CEO of Terra Tech, commented, “As new participants enter the cannabis industry the market is undergoing rapid consolidation. The companies that are vertically integrated with strong brands and multi-jurisdictional operations are best situated to achieve scale and retain market-leading positions. We are planning to merge with Golden Leaf’s operations because its seed-to-sale business model is complementary to ours, encompassing both the Oregon and Canadian market which represent new markets for us, and touching Nevada where we are focused on gaining market share. Its ‘Chalice Farms’ retail dispensaries are well known and have an excellent reputation in Oregon, and the wholesale side of the business offers diverse, high quality cannabis products for all demographics, which are complementary to our existing wholesale product lines. This transaction, if completed, will create a combined company that will control 41 permits across cultivation, manufacturing, distribution and retail spanning Oregon, California and Nevada, in addition to 21 pending permit applications in multiple jurisdictions throughout the U.S.”
Terra Tech Corp (OTCMKTS:TRTC) generated sales of $8.7M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 1.2% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($5.2M against $6M, respectively).
Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!
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