Why Is Terra Tech Corp (OTCMKTS:TRTC) Making Noise?

Terra Tech Corp (OTCMKTS:TRTC) stated that it Unincorporated Clark Country granted approvals for land use applications aimed at medical cannabis dispensaries to be based in State of Nevada. The company reported that it already has a provisional operational certificate granted from Nevada.

Derek Peterson expressed his delight while reporting the progress in applications. He stated that the team worked extremely hard which resulted in this success. Now, the company plans to establish two more additional retail stores that can help the patients of Nevada.

As of now, Terra Tech has four medical cannabis dispensaries, two cultivation centers, and also two production facilities to build and design, making the company one of the largest operator in Nevada state. During the approval announcement, the company reported that they can fund and manage the various construction projects, and they will start working on them as early as possible.

The buzz

In unrelated news, the CEO stated his views on recent accusation of UFCW Executive Dan Rush, who has been accused on federal charges for rigging the union managing process and taking bribes. He stated that it was vital for him to make clear to the entire community about their connection in the recent news reports about Rush.

After he met Rush it was evident the he was benefiting from his position as an UFCW executive. As a company, Terra Tech has always stood for fair, transparent and accountable permitting processes. The bad actors are there in all industries and their industry is no exception.

The government has provided the cannabis industry platform to mature and any kind of corruption does not support the progression. Once they became aware of Rush’s misconduct, they consulted with the respective Department of Justice and helped in their investigation process. In last trading session, the stock price of Terra Tech Corp (OTCMKTS:TRTC) declined over 8% to close at $0.120.

Brown Terrel

Brown Terrel

Terrel is US Markets Daily's business news reporter. She joined US Markets Daily after five years as a print reporter.