TERRA TECH CORP. (OTCMKTS:TRTC) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets.
On July 29, 2020, 1815 Carnegie LLC, a wholly-owned subsidiary of Terra Tech Corp. (the “Company”), completed its previously announced disposition of the real property located at 1815 E. Carnegie, Santa Ana, CA to Dyer 18 LLC (the “Buyer”) for $9,200,000 in cash to a Standard Offer, Agreement and Escrow Instructions for Purchase of Real Estate (the “PSA”) between the Company and the Buyer, dated April 13, 2020. There is no material relationship between the Company or its affiliates and the Buyer other than in respect of the transactions contemplated by the PSA.
About TERRA TECH CORP. (OTCMKTS:TRTC)
Terra Tech Corp. is a cannabis-focused agriculture company. The Company operates through two segments: Hydroponic Produce and Cannabis Products. The Company, through its subsidiary, GrowOp Technology Ltd., is engaged in the design, marketing and sale of hydroponic equipment. It is also a retail seller of locally grown hydroponic produce, herbs, and floral products through its subsidiary, Edible Garden Corp. (Edible Garden). It intends to operate medical marijuana cultivation, production and dispensary facilities in Nevada through its subsidiaries, MediFarm, LLC (MediFarm), MediFarm I, LLC (MediFarm I) and MediFarm II, LLC (MediFarm II). Through its subsidiary, IVXX, Inc. (IVXX), it produces and sells a line of cannabis flowers and cigarettes, among others. The hydroponic produce segment consists of Edible Garden’s business and operations. Its cannabis products segment consists of IVXX’s business, as well as the proposed business operations of MediFarm, MediFarm I and MediFarm II.