LOS ANGELES, June 23, 2014 /PRNewswire/ -- Medbox, Inc.
(OTCQB: MDBX), a leader in providing lawful marijuana dispensary
consulting services and patented dispensing systems to the
alternative medicine industry, announced today that is it launching
its marijuana dispensary management practice in Portland, OR. This business line,
operated through the company's wholly owned Medbox Management
Services, Inc. subsidiary, will provide necessary oversight
services for dispensary operations in concert with a capable joint
venture partner the company is currently in the process of
sourcing, that will manage day-to-day activities at the
dispensary. While the company has offered licensing
consulting services since 2010, this will mark the first time the
company has entered into a management contract to provide
professional oversight services at a dispensary location.
Medbox recently received provisional approval to operate a
medical marijuana dispensary in Portland and is in the process of preparing
the dispensary for a cursory inspection by state officials for
final approval with a grand opening scheduled in September of this
year.
"Medbox is adapting its business model to capitalize on the
demand from investors and individual states for Medbox to utilize
its industry experience to professionally manage dispensary
facilities. This opportunity represents a highly profitable revenue
model for the Company and we are in the process of establishing
operations in every state where marijuana is now legal. We will
continue to seek to partner with affluent and high-pedigree clients
on joint-venture partnerships in these states," stated Dr.
Bruce Bedrick, CEO of Medbox, Inc.
"As the country continues to march forward with sensible reform, we
stand ready to supply the tools, software, consulting and
management services that improve security, compliance and
reporting," he added. "We look forward to expanding our presence
nationwide and reaffirming our industry leadership position."
Nevada, Illinois Florida,
New York, Minnesota, and Maryland have all recently passed medical
marijuana legislation bringing the nationwide count to 23 states.
Medbox has invited State officials from Nevada to see the future Medbox managed
facility in Oregon, and will soon
invite officials from other states as well.
About Medbox, Inc.
Medbox (http://www.medbox.com) is a leader in in providing
lawful marijuana dispensary consulting services and patented secure
dispensing systems to the alternative medicine industry.
Headquartered in Los Angeles, CA,
Medbox, through its wholly owned subsidiary, Medicine Dispensing
Systems, offers its patented systems, software and consulting
services to pharmacies, alternative medicine 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, through its newly
established subsidiaries, is in development of the following
ancillary services catered to the alternative medicine industry:
merchant services and armored transport for cash deposits,
cannabidiol research and development, real estate acquisitions and
subsequent lease programs to alternative medicine dispensaries, and
alternative medicine dispensary management services.
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.
Contact Information
Investor Relations:
Scott Greiper
Secure Strategy Group, LLC
sgreiper@securesg.com
212-333-0202
Medbox:
For more information on Medbox, please call (800) 762-1452.
SOURCE Medbox, Inc.