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Medbox Executes Consulting Agreement with Licensed Medical Cannabis Laboratory and Cultivation Center in Canada
Date:12/11/2013

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  • 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.'/>"/>

    SOURCE Medbox, Inc.
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