Terra Tech Corp. (OTCQB: TRTC) saw its share volume rise on June 4th with 7,291,543, significantly higher than its three month daily average volume of 5,416,556 shares.
Earlier this week, Vaporin, Inc. (OTCQB: VAPO), a distributor and marketer of electronic cigarettes, vaporizers, e-liquids and e-hookah products, announced its entry into the medical cannabis industry through an exclusive distribution agreement with Terra Tech Corp.
Vaporin and Terra Tech have entered into an exclusive distribution agreement whereby Terra Tech will purchase the Company's proprietary vaporizer products for resale throughout their cannabis dispensary network in California, Colorado, Washington and Oregon. According to the California State Board of Equalization, there are an estimated 500 marijuana clubs/dispensaries in California that generate an estimated $2 billion in revenue annually. Medical Marijuana has been legalized in 22 states.
As part of the agreement, Terra Tech has begun to secure purchase commitments from their dispensary network. Additionally, Vaporin and Terra Tech will collaborate on the further development of cannabis and cannabis-related product vending machines in compliance with the Laws of the State of California. In anticipation of entering the cannabis industry, Vaporin has already developed vaporizing pen products for consuming cannabis in oil, wax and dry herb form with each pen varying in look, feel, size, quality and price. The Company anticipates generating revenue from this distribution agreement during the third quarter of 2014.
Derek Peterson, Chief Executive Officer and President of Terra Tech, stated, "Terra Tech and Vaporin share many of the same visions and goals as it relates to the growth and acceptance of vaporizing products to be used in the consumption of cannabis in oil and wax form. We strongly believe that our expertise and access in the MMJ industry combined with Vaporin's quality products and marketing strength will result in a successful partnership."
TRTC closed the day at $.747.
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American Green, Inc. Reaches Preliminary Agreement With FutureWorld Energy, Inc. To Distribute ZaZZZ Machines
Tranzbyte Corp. (OTCPINK: ERBB), now known as American Green Inc., saw its share volume continue its downward trend on June 4th with 23,922,896 shares exchanging hands, five times lower than its three month daily average volume of 117,990,784 shares.
American Green Inc. announced it has reached a preliminary agreement with FutureWorld Energy, Inc. (OTCQB: FWDG) to work together in the distribution of its ZaZZZ robotic dispensaries nationwide and beyond. Utilizing both company's technical backgrounds and rapidly expanding relationships in the cannabis market, the agreement enables American Green to grow the network much more rapidly thus producing the many benefits of scale sooner than later.
"After taking some time to become familiar with one another, the opportunity presented by working with FutureWorld has become crystal clear," says Stephen Shearin, American Green president. "They provide three components that are key in our strategy for expansion: technical savvy, focus in this market space, and integrity."
"We recognize American Green and ZaZZZ as the market leader in this space. Their flexibility in working with us to produce and place CaNNaBoX™ robotic dispensaries will allow each company the opportunity to enjoy the benefits of collaboration," comments Sam Talari, CEO of FutureWorld. "Reaching a common goal of 1,500 units will not only be more realistic, but more beneficial to both companies, our clients, and the market in general," he concludes.
ERBB closed the day at $.0313 on June 4th, 10.6% higher than its previous close of $.0283.
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