TERRA TECH CORP. (OTCMKTS:TRTC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 15, 2017, Alan Gladstone was appointed to the Board of Directors (the “Board”) of Terra Tech Corp. (the “Company”). Mr. Gladstone will also serve on the Company’s Audit Committee and Governance and Nominating Committee and as the Chair of the Company’s Compensation Committee.
to an Independent Director Agreement (the “Agreement”) between Mr. Gladstone and the Company, dated as of November 15, 2017 (the “Start Date”), the Company has agreed to grant Mr. Gladstone an option to purchase $87,500 of shares of the Company’s common stock, which is full vested on the Start Date. Such options will have an exercise price equal to $0.20. The term of the options granted under the Agreement will be for five (5) years from the date of grant, subject to Mr. Gladstone’s continuing service with the Company. Mr. Gladstone will also be paid cash compensation of $6,250 per month.
Item 7.01 Regulation FD Disclosure.
On November 20, 2017, the Company issued a press release announcing that it has appointed Mr. Gladstone to the Board. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information contained in this Item 7.01, and in Exhibit 99.1, referenced herein is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act or incorporated by reference in any filing under the Securities Act, unless the Company expressly so incorporates such information by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
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Exhibit |
Description |
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99.1 |
Press Release, dated November 20, 2017 |
Terra Tech Corp. ExhibitEX-99.1 2 trtc_ex991.htm PRESS RELEASE trtc_ex991.htmEXHIBIT 99.1 Terra Tech Corp. Appoints Alan Gladstone to Board of Directors Mr. Gladstone previously served on Terra Tech’s Advisory Board and brings significant retail experience to Company’s Board Irvine,…To view the full exhibit click here
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.
