LOS ANGELES, May 27, 2014 /PRNewswire/ -- Medbox, Inc.
(OTCQB:MDBX) (www.medbox.com), a leader in providing ancillary
services to the alternative medicine industry, dispensary
consulting services, and patented medicine dispensing systems to
medical and retail industries, today announced it has entered into
an agreement with MJ Holdings, Inc. (OTCQB:MJNE), a publicly traded
company that provides real estate financing and related solutions
to licensed marijuana operators. Medbox will market MJ
Holdings' real estate financial products and offerings to its
roster of consulting clients and will direct all incoming real
estate related opportunities to MJ Holdings.
Dr. Bruce Bedrick, Medbox CEO
stated, "Over the past several years Medbox has been engaged by
more than 400 clients in six states to help entrepreneurs and
investors secure licenses, identify locations and build-out
dispensaries. We have developed unparalleled expertise as
consultants and thought leaders in bringing a philosophy of
security, safety and compliance to the legal marijuana
industry."
Dr. Bedrick added, "We are now pursuing business opportunities
that leverage our industry positioning, including this announcement
regarding the launch of our real estate financing practice.
By partnering with MJ Holdings we can immediately offer real estate
financing and related opportunities to our existing client base and
accelerate our penetration into this market."
MJ Holdings co-CEO, Adam Laufer,
added, "No other company in the marijuana space has the experience
and visibility that Medbox does and we look forward to the
opportunities that flow [to us] from this relationship."
Under the agreement, Medbox will receive a 50% share of
management fees and profits realized from the real estate
opportunities it presents, in addition to warrants to purchase
shares in MJ Holdings.
This agreement caps off an exciting week for Medbox as the
company was featured by Entrepreneur Magazine as one of the "100
Brilliant Companies of 2014" currently on newsstands.
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,
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 catered to the alternative medicine
industry: merchant services and armored transport for cash
deposits, cannabidiol R&D, real estate acquisitions and
subsequent lease programs to alternative medicine dispensaries, and
alternative medicine dispensary management services.
About MJ Holdings, Inc.
MJ Holdings, Inc., a publicly traded company (OTCQB:
MJNE), acquires and leases real estate to licensed marijuana
operators, including but not limited to providing complete turnkey
growing space and related facilities to licensed marijuana growers
and dispensary owners. Additionally, MJ Holdings plans to explore
ancillary opportunities in the regulated marijuana industry. For
more information please visit us at www.mjholdingsinc.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 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.
Contacts
Investor Relations
Stephen Hart
Hayden IR
+1- 917-658-7878
hart@haydenir.com
SOURCE Medbox, Inc.