[ACCESSWIRE]
LOS ANGELES, CA / ACCESSWIRE / September 18, 2015 / Medbox, Inc. (OTCQB: MDBX), a provider of specialized services to the cannabis sector, including operators of dispensaries, cultivation centers, manufacturers and research facilities in those states where approved, today announced that the city of San Diego has awarded the company a Conditional Use Permit (CUP), granting it a license for the operation of a medical marijuana dispensary just east of downtown. This CUP is one of eleven to be awarded thus far in the city of San Diego.
"The city of San Diego has demonstrated a high degree of scrutiny in granting use permits, which makes our award particularly meaningful," said Jeff Goh, Medbox's President and interim Chief Executive Officer. "The city's goal is to provide safe access to medical marijuana for patients and to grant permits to those who demonstrate the highest standards of professionalism and expertise. Our goals align, and we plan to deliver a compliant dispensary the city can be proud of."
Medbox has entered escrow for the purchase of a property located at 3385 Sunrise. The next step will be to build out the dispensary, select an experienced operator and then consult on compliance, training and related matters.
About Medbox, Inc.
Medbox, Inc., a leader in the rapidly emerging cannabis sector, provides specialized services to operators of dispensaries, cultivation centers, manufacturers and research facilities in those states where approved. Through trusted clients and affiliates, the company promotes efficient, consistent, high quality products that are priced right, readily available and safely packaged. For more information about the company or to explore partnership, please visit www.medbox.com.
Forward-Looking Statements
Certain statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements, including, but not limited to, next steps in connection with the dispensary, are based on current beliefs and expectations and are inherently subject to significant business, economic, regulatory and competitive uncertainties and contingencies, many of which are beyond the company's control. In addition, certain forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties also include, but are not limited to, regulatory developments in the industry, as well as political and economic conditions present within the industry. For a more detailed description of the risk factors associated with the company, please refer to the company's latest Annual Report on Form 10-K, and in particular, the section entitled "Risk Factors" therein, and in other periodic reports the company files with the Securities and Exchange Commission thereafter.The company does not assume any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made, unless required by law.
For more information, contact:
Janet Simmons
PondelWilkinson Inc.
310-279-5980
pwinvestor@pondel.com
SOURCE: Medbox, Inc.