LOS ANGELES, April 10, 2014 /PRNewswire/ -- Medbox, Inc.
(OTCQB: MDBX) (www.medbox.com), a leader in providing consulting
services and patented medicine storage and dispensing systems to
the medical and retail industries, announced today that it has
elected Ned L. Siegel, former U.S.
Ambassador, to its Board of Directors, effective immediately.
Ambassador Siegel will be the second independent director of Medbox
bringing over 30 years of entrepreneurial experience as a
developer, owner, and manager of vast and diverse holdings to
assist the company with capitalizing on current market
opportunities as well as finding and developing new investments and
implementing strategies.
"Ned L. Siegel has an extensive
history of creating, developing, and managing business enterprises
from the ground up, with a proven track record of success, which
will be invaluable to Medbox," commented Vincent Mehdizadeh, Founder and Senior
Strategist at Medbox, Inc. "His broad experience in corporate
directorships and government service, along with a vast network of
relationships formed over many years in the business and political
community enhance his ability to add value and create return-driven
opportunities. We look forward to leveraging his skills and
experience to assist in the future growth and success of Medbox. We
also look to take advantage of his considerable corporate
governance experience in healthcare, technology, financial
services, and other industries as we continue to evolve as a public
company. Adding Ned as the second independent director is yet
another step we have taken to strengthen our corporate governance
and promote shareholder confidence."
In 1997, Ambassador Siegel founded The Siegel Group, Inc., an
international business management advisory firm, specializing in
real estate, energy, utilities, infrastructure, financial services,
oil & gas, and technology with its primary focus on
the United States, Israel, the Caribbean and Latin
America markets. The firm has an unprecedented track record
of acquiring and developing successful master plan residential
communities, corporate office developments, industrial parks, and
retail centers.
After demonstrating his success in the private sector,
Ambassador Siegel was appointed by Florida Governor Jeb
Bush to serve as a Member of the Board of Directors of
Enterprise Florida, Inc. (EFI),
the state's primary organization promoting statewide economic
development through its public-private partnership. He served in
this role for several years before being appointed by President
George W. Bush to serve as a Member
of the Board of Directors of the Overseas Private Investment
Corporation (OPIC), a development agency of the U.S Government to
help U.S. businesses invest overseas. OPIC's mission is to foster
economic development in new and emerging markets, complement the
private sector in managing the risks associated with foreign direct
investment, and support U.S Foreign Policy. Subsequently,
Ambassador Siegel was again honored by President Bush and appointed
to serve with Ambassador John R.
Bolton at the United Nations in New York as Senior Advisor to the U.S. Mission
and Representative of the United
States to the 61st Session of the United Nations
General Assembly.
In October 2007, President
George W. Bush once more sought out
the service of Ambassador Siegel, appointing him to serve as the
U.S. Ambassador to the Commonwealth of
The Bahamas where Ned served as the Chief of Mission and was
responsible for all operations of the U.S. Embassy Nassau. His responsibilities included
oversight and management of over 200 U.S. Department of State
employees located in five separate locations throughout
Bahamas, representing seven
different government agencies.
"As the marijuana industry continues to rapidly change and
evolve, Medbox's consulting solutions and technology provide a much
needed vehicle for the dispensing of medications in a safe, secure
and legally compliant way," added Ambassador Siegel. "I have spent
much of my career advising and consulting across various industries
to improve efficiencies, expand and grow businesses and create new
opportunities. I look forward to bringing my experience to
bear for the team at Medbox as they take advantage of the many
opportunities that lie ahead as this industry expands and matures
from its infancy stages."
In addition to Siegel, Medbox's board of directors consists of
Matthew Feinstein, Vice-President of
Medbox; Dr. Bruce Bedrick, Chief
Executive Officer of Medbox; and Mitchell
Lowe, our First Independent Director, Netflix Co-Founder and
Former Redbox President.
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.
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.
Medbox, Inc. is a publicly traded company, and is quoted on the
OTC Markets, ticker symbol MDBX.
For more information on Medbox, please contact (800) 762-1452 or
go online to: http://www.medbox.com.
Contacts:
Investor Relations:
Stephen Hart
Hayden IR
+1- 917-658-7878
hart@haydenir.com
SOURCE Medbox, Inc.