Medbox Clients Receive 8 Provisional Approvals for Cultivation Facilities in Nevada
November 05 2014 - 9:00AM
Business Wire
Company is engaged by entities receiving the conditional
approvals to professionally manage all 8 cultivation facilities;
Company goes 8 for 8 on provisional cultivation license
approvals
Medbox, Inc. (OTCQB:MDBX) (www.medbox.com), a leading dispensary
infrastructure/licensing specialist, patented technology provider,
and partner to the cannabis industry, today announced it’s clients
were awarded 8 cultivation provisional license approvals in the
state of Nevada.
The Company had filed 16 dispensary and cultivation center
applications in the state on behalf of its clients and influential
individuals in Nevada who have been appointed to the future
dispensaries’ and cultivation centers’ board of directors. All
applicants have engaged Medbox Management Services, Inc, a wholly
owned Medbox subsidiary, to provide ongoing management services.
The Company is in the process of identifying qualified
state-screened 3rd party operators that will assume operations with
professional oversight being provided by the Company. The Company
has received provisional approval on all 8 licensing applications
filed for cultivation centers and awaits additional information on
its pending dispensary applications.
“Medicine will be in high demand in Nevada since the state will
be allowing out-of-state patients to purchase the medicine,”
commented Matthew Feinstein, VP at Medbox. “This is exciting news
because it emphasizes Medbox Management Service’s entry into
oversight and advisory services on the production side of the
canna-business. This also allows our clients to utilize our
patented seed-to-sale system to document compliance with state
regulations more effectively.”
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 line of medical vaporizer products. Medbox, through its
newly established subsidiaries, is also developing ancillary
services tailored to the alternative medicine industry, including
real estate acquisitions and subsequent lease programs to
alternative medicine dispensaries and cultivation centers, and
alternative medicine dispensary and cultivation 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 take any
obligation to update any forward-looking statement to reflect
events or developments after a forward-looking statement was
made.
Investor RelationsStephen HartHayden
IR917-658-7878hart@haydenir.comorMedia RelationsJackie Herskovitz
RussellTeak Media + CommunicationsO:
617-269-7171jackie@teakmedia.com@TeakMediaorMedbox:For more
information on Medbox, please call (800) 762-1452.