LOS ANGELES, April 8, 2014 /PRNewswire/ -- Medbox, Inc.
(OTC Markets: MDBX) (www.medbox.com), a leader in providing
consulting services and patented medicine storage and dispensing
systems to the medical and retail industries, today announced
forming of 6 new subsidiaries. The Company has formed subsidiaries
in marijuana research and development, real estate investments,
dispensary management, banking, armored car transport, and
strategic investments in other public companies that have shown
promise in the ancillary service sector of the burgeoning marijuana
industry.
The subsidiaries are:
- Medbox CBD, Inc., specializing in hemp-oil concentrates and
development of pharmaceutical products derived from cannabis to
produce and distribute products based upon lifting of federal
prohibitions of such activities.
- Medbox Property Investments, Inc., specializing in real
property acquisitions and leases to dispensaries and cultivation
centers.
- Medbox Management Services, Inc., specializing in dispensary
management services to State licensed dispensaries for cultivation,
dispensing, and marijuana infused products (MIPS).
- Medbox Banking, Inc., specializing in banking transactions with
prepaid debit cards, convenience checks, and cash depository needs
for operators.
- Medbox Armored Transport, Inc., specializing in armored car
transport of cash from Dispensaries to participating banks.
- Medbox Investments, Inc., specializing in investments and
strategic partnerships in other public companies in the marijuana
ancillary service sector that Medbox believes are viable and have
growth potential.
"We are all witnessing the birth of a new industry and with that
comes amazing opportunities for the companies that are properly
positioned to take advantage of trends and leverage that into
value," stated Matthew Feinstein,
Vice President of Medbox, Inc. "While we are all focused on our
core consulting and equipment sales, we would be remiss if we
didn't capitalize on these opportunities presenting themselves on a
daily basis it seems."
The company is still focused on its existing subsidiaries
of:
Medicine Dispensing Systems, Vaporfection International, Medbox
Rx, and Medbox Technologies Ltd. (Canadian Corporation). Company
executives report that all other subsidiaries not currently in use
by the company shall be dissolved.
About Medbox,
Inc:
Medbox is a leader in the development, sales and service of
automated, biometrically controlled dispensing and storage systems
for medicine and merchandise. Headquartered in Los Angeles, Medbox, through its wholly owned
subsidiary, Medicine Dispensing Systems, offers their patented
systems, software and consulting services to pharmacies, medical
dispensaries and local governments in the U.S. In addition, through
its wholly owned subsidiary, Vaporfection International, Inc.
(www.vaporfection.com), the company offers an industry award
winning medical vaporizer product.
Medbox, Inc. is a publicly traded company, and is quoted on the
OTC Markets, ticker symbol MDBX.
Forward-Looking Statements: The statements in this press
release constitute forward-looking statements within the meaning of
federal securities laws. Such statements are based on our current
beliefs and expectations and are inherently subject to significant
business, economic and competitive uncertainties and contingencies,
many of which are beyond our control. In addition, such
forward-looking statements are subject to assumptions with respect
to future business strategies and decisions that are subject to
change. Potential risks and uncertainties include, but are not
limited to, technical advances in the industry as well as political
and economic conditions present within the industry. We do not take
any obligation to update any forward-looking statement to reflect
events or developments after a forward-looking statement was
made.
For more information on Medbox, please contact the company at
(800) 762-1452 or go online to www.medbox.com.
Contacts:
Investor Relations
Stephen Hart
Hayden IR
+1- 917-658-7878 hart@haydenir.com
SOURCE Medbox, Inc.