Bailey McCann, Opalesque New York:
California-based Terra Tech Corp., Inc is starting an equity enhancement program with Magna Group. Magna Group is a New York-based alternative investments firm that makes structured investments and provides financial partnerships with its portfolio companies. Magna Group maintains an active long portfolio of over 40 emerging growth and development stage companies at any given time, with a focus on small to mid-market investments.
The $5m program will enable Terra Tech Corp. to access additional funds needed to execute the company's expansion plans in the coming months. Terra Tech recently announced the acquisition of Edible Garden, a New Jersey based urban farm specializing in a premier local brand of hydroponically grown produce. Edible Garden distributes its products to approximately 400 retailers throughout New Jersey, Connecticut, Delaware, Maryland, New York and Pennsylvania.
Edible Garden is planning to construct a new 5-acre facility in New Jersey capable of producing close to $10m of produce annually. This funding will allow Edible Garden, a division of Terra Tech Corp., to fast track its construction plans, with an anticipated completion date by year end.
"There is an undeniable need for sustainable agricultural solutions in both the commercial and retail markets and we are confident that our long-term commitment will accelerate the Company's rollup stra......................
To view our full article Click here