Medbox Comments on Launch of Recreational Marijuana In WA State Company Urges Compliance and Safe Storage Efforts
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 email@example.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.
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.
For more information on Medbox, please call (800) 762-1452.
SOURCE Medbox, Inc.