Terra Tech Corp. (OTCQX:TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. 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.
Terra Tech Corp. is a vertically integrated, cannabis-focused agriculture company. It owns a popular brand of cannabis products and it runs dispensaries which sell those products. Through the “seed-to-sale” system, Terra Tech can keep manufacturing costs down to improve margins and profitability.
Terra Tech was one of the first companies in the Las Vegas market. In fact, it had all eight of its licenses approved for sales — which was a huge vote of confidence early on. It is also very well represented in California — the crown jewel of the marijuana market — and New Jersey, which may turn out to be one of the biggest sleeper states of the bunch.
- Fast growing business with existing cash flow
- Favourable trends position medical and adult use cannabis industry for explosive growth
- Full vertical integration ensures healthy margins
- Early adopter of a rapidly-changing industry
- Significant existing infrastructure, industry knowledge and political leverage
Terra Tech operates two main business segments, with strategic core brands
Medifarm – California
- Cannabis company that manages the formal RFP process, winning permits for marijuana cultivation, production and dispensaries for Terra Tech
- As the industry leader in medicinal cannabis permit application and procurement, the company operates in strict compliance with all state and local laws and regulations, developing state-of-the-art sites, profitable, efficient systems of operation
- The MediFarm team has operated licensed facilities in California for more than 2 years, and has recently been awarded approval to operate facilities in the State of Nevada
NuLeaf – Nevada
- Terra Tech acquired 50% of NuLeaf Sparks Cultivation and NuLeaf Reno Production.
- The acquisition is expected to fast track Terra Tech’s cultivation and production facilities allowing them to introduce their IVXX wholesale brand as well as support increasing demand for cannabis products throughout Nevada.
- NuLeaf Sparks holds a Nevada medical cannabis cultivation license and is in the process of constructing a 30,000 square foot cannabis cultivation facility in Sparks, Nevada.
- NuLeaf Reno holds a Nevada medical cannabis production license and is in the process of constructing a 15,000 square foot cannabis production facility in Reno, Nevada.
- Both facilities are expected to be completed by the fourth quarter of 2017
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 products include marijuana flower, pre-rolled products, vaporiser pens and cartridges, and more exotic options like shatters and waxes. That’s pretty much any product you’d find in a legal or medicinal dispensary.
The brand is very well known and offered in attractive packaging.
The company has a highly advanced and custom-designed IVXX Extraction Lab, where its scientists are able to produce the highestquality and purest concentrates and extracts.
Blüm is a retail and medical cannabis dispensary brand that offers a broad selection of cannabis products including flowers, concentrates, and edibles through its Oakland, CA and multiple Nevada locations. It sells the IVXX brand.
It has three locations in Las Vegas, all close to the famous Las Vegas Strip. It also has a Blüm store in Reno — the “Biggest Little City in the World” and a huge tourist destination in its own right.
This location benefits from limited local competition and initial sales from Blüm, Reno made it the best-performing dispensary in the last quarter. These are gorgeous stores in prime locations. Blüm shops look far more like a high-end jewellery store than a stoner pot shop. They are staffed with highly knowledgeable “budtenders.”
Its “Dual Use” Marijuana business licenses have been approved by the State of Nevada Department of Taxation. This approval allowed four of the dispensaries in Nevada to commence recreational sales.
And the product displays are very slick…
This industry relies on customer satisfaction, word of mouth, and online reviews. Since it cannot currently be advertised in the traditional sense, these are the ways that people define who has the best stuff, as it were.
It has also already approved plans to expand into San Leandro, CA.
If it can grow this brand and continue to expand into more and more states, this could be a national chain.
Vertically Integrated Supply Chain Management
- Terra Tech is exposed to the complete lifecycle and entire supply chain pdf medical cannabis, from cultivation to brining products to market
- Through the “seed-to-sale” system, Terra Tech can keep manufacturing costs down to improve margins and profitability
- Too date, Terra Tech currently:
- Operates 11 acres of cultivation centres
- Is building out two cultivation facilities and two extraction facilities in Nevada
- Is building out a new cultivation facility in Oakland, California
- Owns 9 permits in California and Nevada
- Has 5 Blüm locations open and operational
- Is developing another retail Blüm location in San Leandro, California
Cannabis Growth Strategy
CEO and Chairman
Derek Peterson is a versatile entrepreneur with a proven track record of success.
He began his career in finance with Crowell, Weedon & Co, the largest independent broker- dealer on the West Coast. In his 6 years there, Derek became a partner and Branch supervisor where he was responsible for sales of over $10 million.
Derek next accepted an opportunity as a Senior Vice President at Morgan Stanley Smith Barney, where he and his team
oversaw combined assets of close to $100 million.
Derek is a CFP® and holds a degree in Business Management from Pepperdine University.
KENNETH VANDE VREDE
Chief Agricultural Officer
Ken brings a wealth of leadership and strategic vision to the publicly traded urban agricultural company Terra Tech Corp, (TRTC).
He co-founded Edible Garden®, a TRTC division primarily specialising in the growth of leafy greens, herbs and produce.
Under his leadership, all divisions have seen more than 20% revenue growth annually. Through his knowledge of groundbreaking technology and innovation historically associated with Dutch growing methods, Ken has also pioneered a remarkable change with medicinal cannabis cultivation within a controlled greenhouse environment.
MICHAEL A. NAHASS
President and COO
Mike Nahass has been working with Derek Peterson since their time together at Morgan Stanley.
Mike’s prior experience includes serving as Chief Portfolio Manager of the NMS Platinum Funds, LLC. and from September 2009 until August 2011, he was a Partner, and served as Managing Director/COO of, NMS Capital Asset Management, Inc.
Mike worked for Morgan Stanley from February 1995 until June 2009 in various positions, including his last position as Senior Vice President and Complex Manager, where he directly managed over 200 financial advisors with approximately $20 billion in assets under management in Las Vegas, NV.
Mike holds a B.S. in Business Administration from Fairleigh Dickenson University.