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Medbox Targets Newly Emerging $1.3 Billion Canadian Medical Marijuana Market
Date:10/1/2013

WEST HOLLYWOOD, Calif., Oct. 1, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented systems to the medical and retail industries, announced that they will begin to provide their secure dispensing systems and turn-key consulting services in Canada.

According to an article published in the Calgary Herald, Health Canada is phasing out an older system that mostly relied on small-scale, homegrown medical marijuana of varying quality. In its place, large indoor marijuana farms certified by the RCMP and health inspectors will produce, package and distribute standardized product.

The government is placing no limits on the number of these new facilities, which will have mandatory vaults and security systems.

"The Canadian market presents a significant growth opportunity for our company," stated Dr. Bruce Bedrick, Chief Executive Officer at Medbox, Inc. "The government has mandated that marijuana is stored in secure systems, and dispensed in a tightly controlled environment. The Medbox patented system is the premier means of providing secure storage and dispensing," he added. "We expect that our expertise and leadership position in medical marijuana clinic operations in the United States, along with our patented storage and dispensing systems, and our unparalleled track record in helping entrepreneurs secure marijuana dispensing licenses, will be warmly received by the Canadian government and by those applying for operating permits.

156 firms have applied for lucrative producer and distributor status since June, with the first two receiving licenses just last week.

Revenues for the burgeoning new industry are expected to hit $1.3 billion a year by 2024, according to federal projections.

The Calgary Heral
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SOURCE Medbox, Inc.
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