Las Vegas, July 24, 2014 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC), subsidiary, MediFarm LLC, is pleased to announce that it has successfully submitted its applications for both a special use permit and compliance permit to the City of Las Vegas, Nevada. MediFarm's special use permit application was submitted to the City's Planning Department on July 17th. On July 23rd MediFarm submitted its application and business plan to the City's Business Licensing Department to obtain a Medical Marijuana Dispensary Compliance Permit. The compliance permit is required to be issued before the City accepts a business license application to operate a medical marijuana establishment in the City of Las Vegas. The MediFarm application presents to the City MediFarm's extensive experience in traditional agriculture as well as medical cannabis dispensary operations. The company anticipates that there will be a public hearing on the applications and that the City Council will make their selections in September or October 2014, after the state application has been submitted.
"I'm extremely proud of our team, headed by Salwa Ibrahim, who worked tirelessly to meet the strict deadlines the city put in place," said Derek Peterson, CEO of Terra Tech Corp. "She has a tremendous amount of experience building these applications and I feel very confident about the document we submitted."
The proposed facility is approximately a mile off the strip on Western Ave. near Wyoming Ave. and located in close proximity to complimentary medical facilities with easy access to residential communities. Additionally the team has completed their state application associated with this property several weeks ahead of schedule. We anticipate on submitting to the state before August 18th. The company is now focusing on applying to operate a dispensary and a cultivation and production facility in Northern Nevada. The company intends to give further updates about their efforts throughout Nevada as they progress through the process, reach certain milestones and enter new applications.
About Terra Tech
Terra Tech Corp. (TRTC) through its wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners. Our complete product line is available at specialty retailers throughout the United States, and via our website. Through its wholly-owned subsidiary Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as Shoprite, Fairway Markets and others throughout Massachusetts, New Hampshire, New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania.
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Cautionary Language Concerning Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Terra Tech Corp.'s filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to Terra Tech Corp.'s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified sales representatives, (iv) competition, pricing and development difficulties, (v) ability to integrate GrowOp Technology Ltd. into its operations as a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Terra Tech Corp.'s website does not constitute a part of this release.
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Source:Terra Tech Corp.