Navigation Links
Medbox Executes Consulting Agreement with Licensed Medical Cannabis Laboratory and Cultivation Center in Canada

WEST HOLLYWOOD, Calif., Dec. 11, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (, 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:

  • Consulting revenue to Medbox, through a wholly owned Canadian subsidiary, on all sales of medical cannabis products in the Canadian market sold by the licensed producer/distributor on a perpetual basis.
  • Development and product placement in Canada of next generation Medbox Technology that is outfitted with additional security features that will allow the equipment to act as a "medicine vault" – meeting or exceeding all specifications set forth in Canadian law for storage of controlled substances. These product enhancements will allow for equipment placements in doctors' offices and cultivation centers to monitor dispensing of medications to facility staff prior to reaching the end user, in strict accordance with Health Canada's regulatory framework.
  • Development of cannabis genetics that target specific health ailments that can be mass-produced and marketed in the United States, once such activities are federally permitted in the United States.  

"This is by far our most exciting deal to date. Our knowledge, know-how, and access to capital have put us in a position to generate revenue in an emerging market on pace for exponential growth," stated Vincent Mehdizadeh, Chief Operations Officer at Medbox, Inc. "While we are encouraged by the leaps and bounds that we have seen in the United States, with new markets opening up in various countries globally, we would be remiss if we did not capitalize on opportunities in other jurisdictions that are 100% condoned on a federal level."

Company executives reiterate that these Canadian activities are meant to enhance the company's core business in the United States and will help the company be in a "first mover" position once an open market exists in the United States.

"Medbox has existing relationships with over 150 dispensary operators in the United States as a technology supplier and industry consultant," Mehdizadeh stated. "We anticipate that this number will grow to over 500 dispensaries within the next few years. These relationships are extremely valuable and allow for us to market medicinal products to these dispensaries once the United States government allows for such activities to occur. We are uniquely positioned to fill that need when the time comes."

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. (, 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

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.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Medbox, Inc. Rides a Wave of Local Media Support in Connecticut
2. Medbox, Inc. Weighs-in on FDA Evaluation of Prescription Medicine Dispensing Systems
3. Medbox, Inc. To Support Referendum Overturning LA City Council Ban on Medical Marijuana Outlets
4. Medbox, Inc. at the Forefront of Providing Secure Medicine Dispensing Systems to Prisons
5. Medbox Announces Increase in Shareholder Base and Record Revenue Generated in Q3
6. Medbox, Inc. Protects Its Image as a Leader in Sensible Medication Dispensing
7. Medbox Inc. Featured in Wall Street Journal
8. Medbox Responds to Unprecedented Rise in Stock Price
9. Medbox Updates Financial Projections
10. Medbox, Inc. Offers Guidance and Consultation To Washington State
11. Medbox, Inc. Commences Pursuit of Strategic Acquisitions
Post Your Comments:
(Date:11/27/2015)... 2015 Ein neuer Kombinationsansatz ...   --> Ein neuer Kombinationsansatz vereint ... --> Ein neuer Kombinationsansatz vereint ... Clinical Cancer Research vom 6. ... Research vom 6. November 2015 berichtet. ...
(Date:11/26/2015)... , November 27, 2015 ... --> --> ... emergency response system (PERS) market ... for 5 years with APAC ... expected to see a high ...
(Date:11/26/2015)... Nederland, November 26, 2015 ... Een nieuwe aanpak combineert immunotherapie met Bremachlorin-photodynamische ... ) --> ...      (Photo: ) ... Universitair Medisch Centrum (LUMC) blijkt ...
Breaking Medicine Technology:
(Date:11/30/2015)... ... November 30, 2015 , ... Vasont Systems, ... Vasont Universal Integrator (VUI) extension unites with Syncro Soft’s latest software update, oXygen ... a continuous process with the latest release of oXygen® XML editor and the ...
(Date:11/30/2015)... ... November 30, 2015 , ... SIMmersion’s ability to present ... medical schools of the future. To reach an audience of key visionaries and ... conference in Chicago, organized by the American Medical Association. , AMA President ...
(Date:11/30/2015)... ... 30, 2015 , ... Innovaacom, a leading provider of medical ... survey of educational needs for pharmacists worldwide. The poll of pharmacists in Europe, ... quality online and face-to-face education for pharmacists who are fast becoming the new ...
(Date:11/30/2015)... ... November 30, 2015 , ... Several significant coding-related ... changes are likely to include new codes for spine and hip X-rays, paravertebral ... the effects of code changes in musculoskeletal, radiology and nervous system sections on ...
(Date:11/29/2015)... FL (PRWEB) , ... November 30, 2015 , ... ... available today from the new company, Sublime Beauty NATURALS®. All products are available ... natural products, like essential oils, organic facial serums and USDA Certified Organic Sesame ...
Breaking Medicine News(10 mins):