Blum Holdings Inc (BLMH)

[Magnum7419]

Vaporin, Inc. announced that its entry into the medical cannabis industry through an exclusive distribution agreement with Terra Tech Corp. Vaporin and Terra Tech have entered into an exclusive distribution agreement whereby Terra Tech will purchase the company's proprietary vaporizer products for resale throughout their cannabis dispensary network in California, Colorado, Washington and Oregon. According to the California State Board of Equalization, there are an estimated 500 marijuana clubs/dispensaries in California that generate an estimated $2 billion in revenue annually. Medical Marijuana has been legalized in 22 states. As part of the agreement, Terra Tech has begun to secure purchase commitments from their dispensary network. Additionally, Vaporin and Terra Tech will collaborate on the further development of cannabis and cannabis-related product vending machines in compliance with the Laws of the State of California. In anticipation of entering the cannabis industry, Vaporin has already developed vaporizing pen products for consuming cannabis in oil, wax and dry herb form with each pen varying in look, feel, size, quality and price. The Company anticipates generating revenue from this distribution agreement during the third quarter of 2014.