Terra Tech Corp, a vertically integrated cannabis-focused agriculture company, today announced that it has launched a new "Craft Cultivation" model to expand its cultivation capabilities, signing its first "Craft Cultivator" in Northern California. This farm, which is approved for up to one full acre (approximately 44,000 square feet) of cannabis cultivation and uses 22,000 square feet of engineered greenhouse space, is estimated to yield approximately one metric ton of the Company's proprietary high grade "IVXX" cannabis on an annual basis.
Terra Tech has executed a one-year lease and operating contract with Panther Gap Farms, with the option to renew both the one-year lease and the operating contract a further three times in the following years. The property is located in Honeydew, CA, in Southern Humboldt County, in an area known as the "Emerald Triangle" that is home to some of the world's highest quality cannabis products. Terra Tech is adopting a responsible, sustainable and all-natural cultivation methodology to ensure its proprietary IVXX strains are carefully selected and grown to minimize risks to people and the environment.
Derek Peterson, CEO of Terra Tech Corp., commented, "We are proud to be implementing environmentally sustainable practices, and operating in a region and on an isolated site that lends itself to contaminant-free cultivation. Each Craft Cultivator is hand selected because of their unique ability to produce high quality product using sustainable farming practices. Working with artisanal growers and using an all-natural cultivation methodology aligns with our commitment to producing premium quality cannabis products for our customers. We are pleased to expand our cultivation footprint while allowing IVXX to elevate in both quality and consistency. This extension of our cultivation capabilities into the Emerald Triangle, home to some of the world's finest cannabis, will help us to expand both the Company's product line and margins over the coming year."
Salwa Ibrahim commented, "Humboldt County was the first of California's 58 Counties to issue a cannabis cultivation ordinance in compliance with MCRSA. The County has very effectively developed its regulations to protect and preserve the community and ecology of Humboldt County while also supporting the legal cannabis industry and helping it to flourish responsibly in a regulated environment. We are excited at the prospect of cultivating cannabis in this region."