WEST HOLLYWOOD, Calif., Jan. 24, 2014 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented medicine storage and dispensing systems to the medical and retail industries, today announced that it has engaged two independent firms to handle ongoing corporate messaging and investor relations. Hayden IR, a respected national investor relations firm, and RedChipCompanies, Inc. ("RedChip"), an international small-cap research, investor relations and media company have been retained to raise the visibility of Medbox with the investment community.
"Legal marijuana is one of the most rapidly expanding medical markets in the U.S., projected to exceed $3 billion in 2014," commented Dr. Bruce Bedrick, chief executive officer, Medbox, Inc. "This rapid growth is creating significant opportunities and Medbox is positioned as the first mover and clear industry leader in this burgeoning sector. Our offerings include sophisticated and comprehensive consulting services for dispensary permit applicants and cultivators, as well as offering dispensing technologies and vaporizers. The breadth and depth of our offerings position us to strengthen our leadership role and we felt it was an appropriate time to retain proven IR counsel to help us raise our visibility in the investment community, communicate our investment thesis and broaden our shareholder base."
Hayden IR provides a comprehensive range of investor relation services to a growing list of clients. For more than a decade, Hayden IR has been a recognized leader in driving market recognition and creating sustainable competitive advantages for more than 300 small-cap companies. Hayden delivers expertise in such areas as investor management, relationship building, awareness campaigns, online presence and corporate identity.
Stephen Hart, vice president of Capital Markets Advisory, Hayden IR, added, "Recent polling, which suggested that 56% of Americans support legalizing marijuana, demonstrate that the fight is over, and ultimately, we will see a steady trend toward legalization across the country. Already, 20 states and the District of Columbia have legalized marijuana use in some capacity, and industry experts predict 14 additional states will legalize recreational use by adults over the next five years. Medbox has first-mover advantage in the legal marijuana market with patented technologies and significant industry knowledge and expertise. The Company has multiple revenue streams that include recurring revenue and high profit margins. We look forward to helping Medbox raise its visibility and communicate its competitive strengths and market potential to the investment community."
RedChip has a robust platform and an impressive 20-year track record of delivering concrete, measurable results for emerging growth companies. Company executives commented as to RedChip's unique TV, social media, and research platform, which reaches tens of thousands of retail investors and hundreds of small-cap funds, RIA's and Family Offices.
Dave Gentry, CEO of RedChip Companies, commented: "We are pleased to have the opportunity to represent Medbox. Led by a strong, focused, and disciplined management team, Medbox, with its patented technology and award winning products, is uniquely positioned to become the dominant player in a fast-growing industry. We look forward to helping them execute their capital markets strategy."
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, Florida, 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. 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, 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.
For more information on Medbox, please contact Medbox at (800) 762-1452 or go online to www.medboxinc.com.
Investor Relations, Stephen Hart, Hayden IR, +1- 917-658-7878, hart@HaydenIR.com.
SOURCE Medbox, Inc.