Medbox, Inc. Announces Formation of 6 New Subsidiaries Company Expands on Current Focus by Establishing Subsidiaries in Marijuana R&D, Real Estate Investments, Dispensary Management, Banking, Armed Transport, and Strategic Investments in other Viable Marijuana Stocks
LOS ANGELES, April 8, 2014 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medbox.com), a leader in providing consulting services and patented medicine storage and dispensing systems to the medical and retail industries, today announced forming of 6 new subsidiaries. The Company has formed subsidiaries in marijuana research and development, real estate investments, dispensary management, banking, armored car transport, and strategic investments in other public companies that have shown promise in the ancillary service sector of the burgeoning marijuana industry.
The subsidiaries are:
- Medbox CBD, Inc., specializing in hemp-oil concentrates and development of pharmaceutical products derived from cannabis to produce and distribute products based upon lifting of federal prohibitions of such activities.
- Medbox Property Investments, Inc., specializing in real property acquisitions and leases to dispensaries and cultivation centers.
- Medbox Management Services, Inc., specializing in dispensary management services to State licensed dispensaries for cultivation, dispensing, and marijuana infused products (MIPS).
- Medbox Banking, Inc., specializing in banking transactions with prepaid debit cards, convenience checks, and cash depository needs for operators.
- Medbox Armored Transport, Inc., specializing in armored car transport of cash from Dispensaries to participating banks.
- Medbox Investments, Inc., specializing in investments and strategic partnerships in other public companies in the marijuana ancillary service sector that Medbox believes are viable and have growth potential.
"We are all witnessing the birth of a new industry and with that comes amazing opportunities for the companies that are properly positioned to take advantage of trends and leverage that into value," stated Matthew Feinstein, Vice President of Medbox, Inc. "While we are all focused on our core consulting and equipment sales, we would be remiss if we didn't capitalize on these opportunities presenting themselves on a daily basis it seems."
The company is still focused on its existing subsidiaries of:
Medicine Dispensing Systems, Vaporfection International, Medbox Rx, and Medbox Technologies Ltd. (Canadian Corporation). Company executives report that all other subsidiaries not currently in use by the company shall be dissolved.
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. Headquartered in Los Angeles, Medbox, through its wholly owned subsidiary, Medicine Dispensing Systems, offers their patented systems, software and consulting services to pharmacies, medical 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, Inc. is a publicly traded company, and is quoted on the OTC Markets, ticker symbol MDBX.
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.
For more information on Medbox, please contact the company at (800) 762-1452 or go online to www.medbox.com.
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SOURCE Medbox, Inc.