Medbox Featured in CNBC Story as an Investment Opportunity in the Legal Marijuana Industry The industry is shaping up to be "incredibly lucrative"
HOLLYWOOD, Calif., July 8, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented inventory control, compliance, and dispensing systems to the medical and retail industries, announced that they have been listed in a CNBC story as an investment opportunity in the legal marijuana industry.
In a piece titled Investment Opportunities Grow in Marijuana Business, Medbox was listed as one of only two publicly traded companies that are capitalizing on this rapidly growing industry.
"The marijuana market is growing," said Courtney Regan of CNBC/Big Data Download. "It's shaping up to be an incredibly lucrative industry based on the latest data projections."
Commercial medical marijuana sales are estimated at $1.5 billion per year, but are rapidly growing, according to the report - using data collected from Medical Marijuana Business Daily. Looking forward, projected sales are $3 billion in 2014, and $6 billion in 2016.
"If you take the whole industry, not just medical - but the entire marijuana market in the United States - you're probably looking at $40 billion. Some estimates have it as high as $100 or $120 billion. If you compare it to the wine industry, which is maybe $10 or $20 billion, it's at least that size and probably much larger."
Software, technology, and hardware are among the areas that could be very lucrative, the report stated.
"We are pleased to be included on the short list of companies mentioned in the CNBC story regarding investment opportunities in the marijuana business," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "We are proud of our leadership position in the industry, and strive to continue to provide the products and services that this growing industry will require, while delivering value to our shareholders."
About Medbox, Inc:
Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Medbox has offices throughout the world, including New York, Arizona, Connecticut, Massachusetts, Tokyo, London and Toronto, and has their corporate headquarters in Los Angeles.
Medbox provides their patented systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehab clinics, hospitals, prison systems, hospice facilities, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is quoted on the OTC Markets, ticker symbol MDBX.
For more information on Medbox, please contact the Medbox Investor Relations Department at (800) 762-1452 or go online to www.medboxinc.com.
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, political conditions and economic conditions in the states considering such legislation. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
SOURCE Medbox, Inc.