Newport Beach, Aug. 13, 2015 (GLOBE NEWSWIRE) -- Terra Tech (TRTC) CEO, Derek Peterson, comments on recent news of UFCW executive Dan Rush, who has been indicted on federal charges for allegedly taking bribes and rigging the union organizing process.
"It was important for me to make clear to the community our involvement in the recent news reports about Dan Rush. After I met Mr. Rush it was apparent the he was using his position as an executive with the UFCW to personally monetize his activities. As a company we have always stood for transparency, accountability and fair permitting processes. Bad actors exist in all industries and ours is no exception. The federal government has given the cannabis industry latitude to mature and corruption of any kind does not help our progression," stated Derek Peterson, CEO of Terra Tech. "Once we became aware of Mr. Rush's misconduct we consulted with the Department of Justice and under the guidance and direction of the FBI we assisted in their investigation. In partnership with the FBI we were able to use money misappropriated from Mr. Kaufmans trust as the subject in a corruption sting. We have worked hard to bring legitimacy to our often misunderstood sector and we hope that the activities of one individual don't become representative of the industry in whole."
About Terra Tech
Terra Tech Corp. (TRTC) through its wholly-owned subsidiary GrowOp Technology, 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. Our complete product line is available at specialty retailers throughout the United States, and via our website. Through its wholly-owned subsidiary Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as Shoprite, Food Emporium and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania. MediFarm LLC is focused on medical cannabis businesses throughout Nevada. IVXX LLC is a wholly owned subsidiary that produces medical cannabis extracted products for regulated medical cannabis dispensaries throughout California.
For more information about Terra Tech Corp visit: www.terratechcorp.com
For more information about IVXX visit: www.ivxx.com
Visit us on Facebook @ http://www.facebook.com/terratechcorp
Follow us on Twitter @terratechcorp
Follow us on Instagram @socal_IVXX
For more information about Edible Garden visit: http://www.ediblegarden.com
Visit Edible Garden on Facebook @ https://www.facebook.com/ediblefarms
Visit IVXX on Facebook @ https://www.facebook.com/ivxxbrand
Cautionary Language Concerning Forward-Looking Statements
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.