LOS ANGELES, July 29, 2014 /PRNewswire/ -- Medbox, Inc.
(OTCQB: MDBX) (www.medbox.com) (the "Company"), a leading
dispensary infrastructure/licensing specialist, patented technology
provider, and partner to the cannabis industry, announced today
that the company's founder has assigned any and all patents and
patent applications, trademarks, and related intellectual property
to Medbox, Inc. Previously, Medbox had been the exclusive licensee
of these patents and IP.
The portfolio contains the recently approved "seed-to-sale"
patent, the herbal dispensing patent that was approved in 2010 by
the United States Patent & Trade Office, as well as 6 other
pending patent applications relating to Medbox products.
"This announcement is the latest evidence of the market leading
platform that Medbox is building across our management team, board
of directors, intellectual property portfolio and product suite,"
stated Dr. Bruce Bedrick, a Medbox
director. "Our company's founder, Vincent
Mehdizadeh, has been a visionary in the cannabis industry
since he first envisioned and patented the Medbox biometrically
secured marijuana dispensing technology several years ago. We are
thankful for his decision to assign the entire IP portfolio to
Medbox."
About Medbox, Inc.
Medbox, Inc. ("MDBX" or the "Company") 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 developing
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
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:
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.