WEST HOLLYWOOD, Calif., Dec. 11, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing industry specific consulting services and patented systems to the medical and retail industries, announced execution of a consulting agreement with a cannabis research and development laboratory licensed and permitted by Health Canada. According to the terms, Medbox has been engaged in an ongoing consulting role as the lab transitions to cannabis producer and distributor. The laboratory is currently one of only a few allowed to cultivate and study cannabis in Canada for use in medicinal applications. With Medbox's help, the laboratory is poised to be one of the first to have a producer and distribution license granted in the new Canadian medical cannabis market.
"The laboratory we are working with already possesses a level 6 clearance and exemption to the Controlled Drugs and Substances Act (CDSA) in Canada for research and development of cannabis, and is truly best suited to transition into the production and delivery distribution model that Health Canada has adopted," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "We are extremely excited about working alongside this laboratory as they start legally selling their medicine to the patients of Canada. We look forward to divulging the name of the laboratory once they achieve additional permitting through Health Canada as a licensed producer/distributor. In the meantime, we have agreed to maintain our client's anonymity during the application process, while still adhering to relevant disclosure requirements as Medbox transitions to becoming a fully reporting company."
Company executives further commented that the deal allows Medbox to benefit in the following ways:
|SOURCE Medbox, Inc.|
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