Las Vegas, Oct. 30, 2014 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC), is pleased to announce that they have received a unanimous vote for approval of their Western Avenue dispensary location by the Las Vegas City Council. On October 29, 2014, the City Council voted to approve both the MediFarm SUP and the Compliance Permit. If MediFarm receives a State provisional registration certificate for a Medical Marijuana Dispensary at this location on November 3, 2014, then MediFarm will proceed with the last step for full licensure, a final review for a privileged business license in the City of Las Vegas. If succesful the company will begin construction at their Western Ave location and will open under the name Blum LV.
MediFarm, LLC, a subsidiary of Terra Tech Corp., originally submitted its applications to the City of Las Vegas on July 23, 2014, to obtain a Special Use Permit (SUP) and Compliance Permit for a Medical Marijuana Dispensary to be located at 1921 Western Avenue in Las Vegas, Nevada. Issuance of the SUP demonstrates compliance with land use requirements and issuance of the Compliance Permit is required prior to the City issuing a business license. The Downtown Design Review Committee approved the building elevations and signage for MediFarm's dispensary at this location on August 26, 2014 and the City Planning Commission voted to recommend approval of the SUP on September 30, 2014. The City of Las Vegas Planning Department recommended approval of MediFarm's Compliance Permit with approval of the SUP.
We have made great progress in the city of Las Vegas; our team has navigated a very difficult and complex application process. To receive a unanimous vote of approval was a great attestation of the quality of our work", said Derek Peterson, CEO Terra Tech. "We are anxiously awaiting the state rankings due out on November 3rd."
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, Food Emporium and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania. MediFarm LLC is focused on securing permits to operate medical cannabis businesses in Nevada.
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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.