Navigation Links
Medbox Signs Multi-State Consulting Deal with X-Change Corporation
Date:8/16/2013

HOLLYWOOD, Calif., Aug. 16, 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 signing of a deal with X-Change Corporation (OTC Markets: XCHC), to provide consulting services in the legal marijuana markets of Nevada, California, Arizona, Washington State, Massachusetts, and Illinois.

The contract, worth $5.3 million dollars, is to be paid in increments based on performance criteria being met by Medbox. The project consists of formation of corporate entities, application assistance in the target states, build-out of physical dispensaries and cultivation facilities in those states, and also securing management relationships between the formed entities and X-Change Corporation.

"This agreement allows for an up-and-coming company like X-Change to showcase their formulations in state approved medical marijuana dispensaries," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "The licensing agreements that they will be entering into in these target markets will set them apart as the leader in their market segment of cannabinoid based research formulation development."

According to management, the project once again sets Medbox on a different orbit than any other company in the legalized marijuana ancillary services sector. The company has announced unveiling a "platinum consulting" package for its high-end clientele that demand performance in achieving licensing for medical marijuana dispensaries in competitive markets. The company will still accept traditional consulting engagements but will also offer 5-10 platinum packages per newly adopted medical marijuana state. As was the policy in Arizona, the company will only be accepting a limited number of clientele in new target states and assign each client to a particular territory in that state, to prevent competition between Medbox clients.  

"As new states adopt regulations and licensing programs for dispensaries, the limits placed on those licenses create a "golden ticket" type of environment," stated Vincent Mehdizadeh, COO of Medbox, Inc. "In Arizona, we successfully obtained 20 licenses for our consulting clients. We helped make their dreams a reality in that market and handled every nuance you can imagine, from legal challenges to program implementation to zoning issues with local municipalities. We were there every step of the way for our clients and the same will hold true in new target states in which we offer our services."

Management acknowledges that X-Change is a development stage public company. As a result, the contract was structured in a manner to allow X-Change to pay for services over a period of many months, and as assets are achieved.

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, 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.

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.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Medbox Clients Lead the Way with Favorable Arizona Legal Ruling
2. Medbox Files Registration Statement with SEC
3. Medbox Owned Vaporfection On Pace To Set Sales Record in 2013
4. Medbox Comments on Federal Tolerance of State Marijuana Laws
5. AVTs Customer Medbox, Inc. Featured in Bloomberg Businessweek
6. Medboxs MedVend Automated Medication Dispensing System Now in Michigan
7. Medbox Completes Financial Audit
8. Medbox Featured in Fortune Magazine Cover Story
9. Medbox Acquires 50% of MedVend and its Patented Technologies
10. Medbox CEO Scheduled to Appear on Fox Business Channel
11. Medbox Signs Ad Deal With Entrepreneur Magazine
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... 2016 Research and Markets has ... by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), ... Parenteral) - Global Forecast to 2021" report to ... The global pharmaceutical excipients market is projected to reach ... 6.1% in the forecast period 2016 to 2021. ...
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on ... today announced that patient enrollment in its ongoing ... Duchenne) has exceeded 50% of its 24-patient target. ... in the third quarter of 2016, and to ...
(Date:6/23/2016)... INDIANAPOLIS , June 23, 2016 ... Tomorrow,s Leaders Scholarship is any indication, the future is ... online at www.diabetesscholars.org by the Diabetes Scholars ... in the way of academic and community service excellence. ... program since 2012, and continues to advocate for people ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ... , "Film editors can give their videos a whole new perspective by using the ... CEO of Pixel Film Studios. , ProSlice Levels contains over 30 Different presets ...
(Date:6/26/2016)... , ... June 26, 2016 , ... ... once they have been diagnosed with endometriosis. These women need a treatment plan ... require a comprehensive approach that can help for preservation of fertility and ultimately ...
(Date:6/25/2016)... ... ... The temporary closing of Bruton Memorial Library on June 21 due to a possible lice ... overlooked aspect of head lice: the parasite’s ability to live away from a human host, ... a necessary one in the event that lice have simply gotten out of control. , ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. ... his M.D from the David Geffen School of Medicine at UCLA. He trained in ... to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he ...
(Date:6/25/2016)... ... 2016 , ... Conventional wisdom preaches the benefits of moderation, whether it’s a ... the bar too high can result in disappointment, perhaps even self-loathing. However, those who ... , Research from PsychTests.com reveals that behind the tendency to set ...
Breaking Medicine News(10 mins):