WEST HOLLYWOOD, Calif., Oct. 15, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented systems to the medical and retail industries, stated that their partnership with a Canadian medical marijuana research and development laboratory will provide tangible benefits to the company's US clients.
According to the terms of the partnership, Medbox will provide ongoing consulting as the lab transitions to become a cannabis producer and distributor.
Medbox executives state that the partnership with the Canadian lab will enhance the company's core business in the United States and will provide the company with a "first mover" position as more states and the federal government move towards full legalization.
"Medbox has relationships with over 150 dispensary operators in the United States as a technology supplier and industry consultant," according to Vincent Mehdizadeh, Chief Operations Officer at Medbox, Inc. "We anticipate that this number will grow to over 500 dispensaries within the next few years. These relationships are extremely valuable and will allow us to sell medicinal products through these dispensaries as regulations allow," he added. "Our company will be uniquely positioned to be in the leadership position as these markets open."
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.
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.