LOS ANGELES, July 8, 2014 /PRNewswire/ -- Medbox, Inc.
(OTCQB:MDBX) (www.medbox.com), a leading dispensary
infrastructure/licensing specialist, patented technology provider,
and partner to the cannabis industry, commented today on the
commencement of recreational retail marijuana sales in the state of
Washington.
Dr. Bruce Bedrick, CEO of Medbox,
stated, "Twenty months ago voters first approved I-502 in
Washington State, which legalized
the sale of small amounts of marijuana related products to adults
21 and over, imposed taxes and designated the revenue for
healthcare and substance-abuse prevention and education.
Today, Washington follows
Colorado as the second state to
begin it's recreational sales program. This is a historic moment
not just for the people of Washington, but for all of us who have sought
sensible solutions to our country's drug policies for years."
Medbox is currently pursuing 6 management contracts in that
state with resident operators in need of professional business
oversight. Washington regulators
are expected to issue a couple hundred licenses for recreational
marijuana stores, which are anticipated to raise more than
$190 million in tax revenue over the
next four years, according to state projections.
"While it's easy to get caught up in the celebratory atmosphere
surrounding another fallen domino on the track toward full
decriminalization, it is important to remember that cannabis,
especially in concentrated or edible formulations, can present a
danger to children and pets," cautioned Medbox Vice President
Matthew Feinstein. In order to
remind consumers of the importance of properly storing their
purchased marijuana and to prevent unintended access in a home
setting, Medbox will be giving away one hundred "mini-safes" to
promote safe and secure access.
Medbox executives clarified that complimentary "mini-safes" will
be made available to properly licensed retail marijuana stores in
Washington and Colorado on a first-come-first-served basis,
who would then be free to give away or raffle off the safes to
their customers in branding partnership with Medbox.
The company is also researching the viability of producing
biometric "Medbox Mini-Safes" for sale to marijuana outlets and
marketed directly to consumers.
For more information on the mini-safe giveaway, email
info@medbox.com
About Medbox, Inc.
Medbox (http://www.medbox.com) is
the leading dispensary infrastructure and licensing specialist,
patented technology provider, and partner to the cannabis 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 tailored 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
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
undertake any obligation to update any forward-looking statement to
reflect events or developments after a forward-looking statement
was made.
Contact Information
Investor Relations:
Stephen Hart
Hayden IR
+1- 917-658-7878
hart@haydenir.com
Medbox:
For more information on Medbox, please call
(800) 762-1452.
SOURCE Medbox, Inc.