Terra Tech announced yesterday the completion of the sale of $825,000 of convertible debentures. Aegis Capital Corp. acted as placement agent for the offering. The proceeds of the offering are critical for management to execute on its growth strategy. Terra Tech and NB Plants have recently announced they are purchasing and constructing an additional five acres of greenhouse on the Belvidere property. This round of funding allows the company to finalize the purchase and begin construction of a new facility, which we anticipate will produce significant revenues for the company. The anticipated time for construction is 9 months.“I have a background in finance and understand that investors generally see financings as dilutive, however if the company is creating accretive events such as building additional space to produce additional revenue, cash flow and earnings then it is necessary if shareholders want to see the company grow,” said Derek Peterson CEO of Terra Tech. “Myself and the officers of the company haven’t taken a salary since inception and we intend to utilize all forms of funding to make the company stronger.” Terra Tech will continue to keep investors aware and informed of the progress. The company is also working towards meeting the qualifications for listing on the NASDAQ Capital Markets within 24 months. This merger is a significant step in that direction. Additionally the company plans to strengthen it’s board of directors as well as the advisory board with industry veterans that can help facilitate the companies overall growth strategy. “We have never been more excited about the future of the company, we have identified additional growth opportunities for the company and plan to execute as aggressively as possible in the coming months,” said Derek Peterson, Terra Tech CEO. For more information about Terra Tech Corp visit: www.terratechcorp.com Visit us on Facebook @ http://www.facebook.com/terratechcorp Follow us on Twitter @terratechcorp
For more information about GroRite Visit: http://www.grorite.comVisit GroRite on Facebook @ http://www.facebook.com/groritegc For more information about NB Plants/ Edible Garden visit: http://www.eatherbs.com About Edible Gardens: The Edible Garden brand provides fresh, locally grown herbs and leafy greens to major supermarket chains and restaurants. Their process utilizes time tested, classic Dutch hydroponic farming methods to grow vegetables in a safe, healthy, 100% natural environment, free of contaminants and pesticides. We maximize the use of the latest technology, to exceed competitors’ products often imported from outside the U.S. and Edible Garden exclusively grows, packs and ships their own products, allowing them to monitor and guarantee the safety, quality, and freshness of our produce from seed to delivery. About Terra Tech: Through its wholly-owned subsidiary GrowOp Technology, Terra Tech Corp. 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. We work closely with expert horticulturists, engineers, and plant scientists to develop and manufacture advanced proprietary products for the fast-growing urban agricultural industry as well as individual hobbyists. Large companies, small urban farmers, home enthusiasts, and traditional greenhouse growers utilize our products. Our complete product line is available at specialty retailers throughout the United States, and via our website. Terra Tech Corp. was incorporated in July 2008 in the State of Nevada; its subsidiary GrowOp Technology was founded March 2010, in Oakland, California. 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.