TRTC, Terra Tech Corp. TRTC reported that it has signed an agreement with New Jersey based Edible Farms, a division of NB plant products to jointly construct and operate up to 10 acres of commercial hydroponic greenhouse specializing in the production of locally grown, hydroponic produce. Currently Edible Farms cultivates and sells their line of living basil and other fresh hydroponically grown produce to major retailers throughout the Northeast such as Shoprite, Fairway, D'Agostino, Kings, The Food Emporium and more. With current annual revenue in excess of 2,000,000, Edible Farms is looking to TRTC to expand their production capacity. Based upon their current gross revenue per square foot the first 2.5 acre facility should produce close to 7,000,000 in additional annual revenue. Several of their current retail customers have indicated a desire to purchase a greater degree of product as their production increases. This project will be 51% owned by TRTC who is responsible for securing the necessary capital for the expansion plan. Through its wholly-owned subsidiary GrowOp Technology, TRTC specializes in controlled environment agricultural technologies. More about TRTC at www.terratechcorp.com GMXR, GMX Resources Inc. GMXR reported that it has entered into a definitive purchase and sale agreement with a private third party to sell a portion of its East Texas and Louisiana
assets for approximately 69.0 million, subject to certain adjustments. The sale is expected to be closed within 30 days and is subject to customary diligence review and adjustments for title and environmental matters. GMXR is retaining its entire Haynesville / Bossier natural gas resource base with significant resource potential for natural gas, as well as Cotton Valley Sands and shallow rights across approximately 13,130 net acres that include 10 producing wells and 28 undeveloped horizontal locations within its East Texas core position. GMXR is a resource play rich exploration and production company. Oil shale resources are located in the Williston Basin, North Dakota Montana targeting the Bakken Petroleum System and in the DJ Basin, Wyoming targeting the Niobrara Petroleum System; both plays are estimated 90% oil. GMXRs natural gas resources are located in the East Texas Basin, in the Haynesville/Bossier gas shale and the Cotton Valley Sand Formation, where the majority of its acreage is contiguous, with infrastructure in place and substantially all held by production. More about GMXR at www.gmxresources.com THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: PennyOmega.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. (Read Full Disclaimer at http://pennyomega.com/disclaimer).