California-based Terra Tech Corp. stated Wednesday it finalized a deal to obtain another western Coast marijuana multistate operator, Umbrla, which does company as Unrivaled and includes MJ that is multiple in its portfolio.
Terms of the deal were not disclosed other than the merger was an “all-stock transaction.”
But Terra Tech CEO Frank Knuettel II predicted in a news release that “the combined companies will generate revenues in excess of $70 million in 2021.”
“This is the first of our anticipated acquisitions that are strategic on the inspiration created by my predecessors,” Knuettel said.
“Our short-term objective would be to get to be the West that is premier Coast Southwest operator of cannabis assets with a focus on brands and dispensaries.”
Unrivaled Has a continuing business impact in Arizona, Ca, Oklahoma and Oregon, and its own items are on racks in approximately 700 cannabis stores in Ca and Oregon alone, based on the launch.
The company’s brand name profile includes Cabana, Korova, LTRMN, The Spot and Sticks.
Until now, Terra Tech was in fact running just in Ca, where it has two stores that are retail a cultivation facility, and Nevada, where it owns a cultivation and manufacturing plant.
Terra Tech trades on the markets that are over-the-counter the ticker symbol TRTC.