COLORADO SPRINGS, Colo., Feb. 3, 2014 /PRNewswire/ -- Endocan Corporation (NASDAQ OTC: ENDO), a U.S. Company specializing in cannabis and cannabinoid formulation-based health and wellness solutions, provides shareholder guidance concerning its consultant MDS, a subsidiary of Medbox, Inc., and the multi-million dollar agreement for multi-state product release licensing, medical cannabis dispensary management, and cultivation.
"We are excited by the renewed energy with MDS. Endocan looks forward to moving forward with the executives at MDS as an industry leader in consulting and helping match entrepreneurs with opportunities," stated Robert Kane, CFO and SR VP of Business Development, Endocan Corporation. "Endocan is positioned well to take advantage of these opportunities."
As announced on August 20, 2013, Endocan will be bringing proprietary cannabinoid-based products and formulations to market in state-approved regulatory environments with dispensaries to be branded by the Company while using the advanced, patented 'Medbox' dispensing technology. Endocan's multi-year, strategic growth agreement with Medicine Dispensing Systems, a wholly owned subsidiary of Medbox, a publicly traded company, establishes Endocan as the provider of scientific and clinical expertise for multiple medical cannabis dispensaries and cultivation facilities in the states of Arizona, California, Illinois, Massachusetts, Nevada, and Washington State.
This milestone agreement provides Endocan with the real and concrete opportunity to develop premiere branding and to introduce the Company's proprietary cannabinoid-based products and formulations within each state's regulatory framework. Under the agreement, as a part of each dispensary build-out, Endocan will brand the operations through the use of the patented Medbox system. Medbox technology and software allows for biometric patient and employee identification, internal documentation and tracking of dispensing services for internal accounting and compliance purposes, and secure inventory management and control.
About Medicine Dispensing Systems, A Subsidiary of Medbox, Inc.
Medbox was founded on the principle that all great industries thrive when automated and regulated. Our wholly owned subsidiary, Medicine Dispensing Systems has grossed $13 million dollars since it began doing business in 2010 and later allowed for an acquisition and the establishment of a public company presence in Medbox, Inc. [MDBX]. The company's founder and CEO have appeared in interviews with CNN, ABCNews, Reuters, BBC, Fox Business, Bloomberg TV, CNBC, Associated Press, NPR, and the company has been featured in articles appearing in Newsweek, Bloomberg BusinessWeek, Los Angeles Times, Chicago Tribune, and the Wall Street Journal, as well as over 30 other news agencies around the world concerning its cutting-edge products and services.
About Endocan Corporation
Endocan Corporation is currently developing new natural cannabis-based products based on innovative formulations to utilize the unique and potent benefits of the cannabis and hemp plants. Medicinal properties of cannabis and hemp have been known and applied for thousands of years. With the aid of scientific research, Endocan Corporation is translating such knowledge into development of effective cannabinoid formulation-based health and wellness solutions as well as cosmeceutical, nutraceutical, and food brands throughout the world. The Company's health and wellness, nutritional, and cosmetics lines will address personal needs and will evolve with the introduction of new formulations and products, advancing the Company within the expanding multibillion-dollar global market.
Forward Looking Statements
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing words such as "anticipate," "seek," intend," "believe," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. The Company does not undertake any duty nor does it intend to update the results of these forward-looking statements.
CFO, Sr Vp of Business Development
SOURCE Endocan Corporation