Terra Tech Corp (OTCMKTS:TRTC) is delighted to update market participants on its Nevada Medical Cannabis initiatives, as well as additional measures throughout the country. It recently informed shareholders that ‘MediFarm’, ‘MediFarm I’, and ‘MediFarm II’, all three have acquired provisional approval from Nevada in each local jurisdiction where they submitted application to get a Medical Marijuana Establishment license. These subsidiaries were given a total of four provisional certificates, two Production provisional certificates and two growing provisional certificates spanning both Southern and Southern Nevada.
City of Las Vegas Dispensary
Terra Tech’s MediFarm acquired a provisional certificate from the state of Nevada on November 3, 2014. It submitted the license application on November 12, 2014. The subsidiary is finalizing the design so that it can provide construction documents. After getting all required certifications and approvals from the state and local agencies and completing construction, MediFarm will begin operations. It expects the retail facility to be operational by summer 2015.
Clark County Dispensaries
Terra Tech’s MediFarm was granted four provisional certificates for two dispensaries, a production and cultivation and facility on November 3, 2014. The Clark County Department granted approval on June 25, 2014. However, it has not received final nod from the Clark County Department for its two dispensaries. The commission voted five to one to formally reject all applications for SUPs that had previously been stopped in abeyance, including the two application submitted by Terra Tech for medical pot dispensaries in Nevada.
Reason for denial
The denial came as a recommendation from District Attorney in order to reconcile the local and state selection processes. Nevada has issued eighteen provisional certificates for medical dispensaries in Clark County, including two to Terra Tech’s MediFarm. However, only ten out of eighteen received Clark County SUPs. The decision followed a court order issued on December 26 in the case filed by five medical dispensary applicants who acquired nod from the county but not form the state.