Oakland, Nov. 11, 2014 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC) is pleased to announce they have completed testing and formulating compounds at their cannabinoid extraction facility in Northern California and are now moving into production. The company will be producing a variety of oils, waxes and other mediums of concentrated cannabinoids
In March of this year the company announced they are developing a research and industrial extraction facility focused on the medical cannabis market. The facility was built in response to what the company views as an increase in demand for high grade CBD as well as other cannabis extracts. On September 9, 2014 the company's Board of Directors unanimously voted to allow the company to engage in the production, extraction and retail sale of medical cannabis if done so in full accordance with the state and local medical marijuana laws(ordinances) in which they operate. This allows the company's executive team to transparently operate in the medical cannabis market.
In late October the company received a legal opinion from Henry G. Wykowski and Associates, a leading medical cannabis attorney in California structuring the methodology by which Terra Tech can participate in the legal cannabis market within the state. The company has a firm understanding of how to legally operate within the framework of state and local law.
"At the time the board decided to take this step we weighed the risks and rewards of making this move. As the industry matures we feel confident the regulatory bodies will appreciate a transparent operator who not only adheres to state and local laws, but that produces a safe and effective product to the highest standards," explains Derek Peterson, CEO of Terra Tech. "We have made a significant investment into our facility so that patients can have access to high quality medication, free of toxic residues and have confidence that it is produced utilizing the most advanced technology and processes available".
The company will be utilizing the medical cannabis permit held by company executives Derek Peterson and Salwa Ibrahim and will produce medication to be offered to the patient base associated with their collective. The company will announce their branding initiative and anticipates products to be available to patients by mid-December.
