Prominent marijuana company Terra Tech Corp. announced its closing of a successful merger with Unrivaled. The two California-based companies, with combined organizations in California, Nevada, and Oregon, are expected to generate combined revenue in excess of $70 million in 2021. The company operates a mass array of assets involving cultivation, distribution, brands, processing, and dispensaries.
Collectively the company’s business portfolio consists of well-respected brands in cannabis, including Korova, Sticks, Cabana, Blum, and The Spot. Since the merger with Unrivaled, Terra Tech Corp. has decided to completely rebrand itself with a name change to Unrivaled Brands Inc. The company also began trading under its new ticker symbol, “UNRV,” on the OTCQX market on July 8th.
Company CEO, Frank Knuettel II, said “We are pleased to have successfully closed the merger with Unrivaled as we expected. We believe the synergies with Unrivaled’s existing brand portfolio and distribution operations in multiple states will lead to greater scale and produce meaningful economic and operational benefits. We look forward to integrating our businesses and expanding the company’s platform.”
He continued, saying, “Additionally, as part of the merger, we are excited to launch our new corporate identity, rebranding the Company to Unrivaled Brands, Inc., which we believe aligns with our goal of becoming the premier cannabis multi-state operator in the West.”
With this merger, Unrivaled Brands, Inc. has its hands dipped all through the cannabis industry.