Medbox Secures Additional Capital from Current Lender

LOS ANGELES, Oct. 1, 2014 /PRNewswire/ -- Medbox, Inc., (MDBX), the leading licensing, infrastructure and security specialist, patented technology provider, and partner to the cannabis industry, is pleased to announce that it has secured an additional $0.5 million in capital from a current lender.  The additional financing closed on Friday, September 26, 2014. The remaining $1.0 million commitment from the original agreement is expected to close in two $0.5 million increments within 2 days and 5 days, respectively of the effectiveness of Medbox's S-1 filing which is expected to be filed with the Securities and Exchange Commission this week.

Medbox intends to use the net proceeds to accelerate the development and growth of its current business pipeline in key target markets within the U.S. In addition, the Company intends to apply a portion of the net proceeds for general corporate purposes, which may include working capital, continued investment in geographic expansion, as well as research and development.

For amendment details please see the Company's 8-K filing by clicking on the link below. Medbox 8-K Filing.

Mr. Guy Marsala, Medbox CEO, commented, "I am excited to announce a follow-on capital raise from an existing lender to our Company, as this demonstrates confidence and commitment from our partner. This new capital will be used to continue developing our robust pipeline and expanding our business in other key target markets. Medbox is building what we believe is the best positioned and best managed company in the industry. By properly capitalizing our business we can truly reward our shareholders."

The securities sold in the private placement were not registered under the Securities Act of 1933, as amended (the "Securities Act"), and were sold in reliance upon exemptions from the registration requirements of the Securities Act pursuant to Regulation D promulgated under the Securities Act. Therefore, such securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell any securities or a solicitation of an offer to purchase any securities.

About Medbox, Inc.
Medbox, Inc. ("MDBX" or the "Company") is the leading licensing, infrastructure and security specialist, patented technology provider, and partner to the cannabis industry. Headquartered in Los Angeles, CA, Medbox, through its wholly owned subsidiary, Medicine Dispensing Systems, offers its patented systems, software and consulting services to pharmacies, alternative medicine dispensaries and local governments in the U.S. In addition, through its wholly owned subsidiary, Vaporfection International, Inc. (www.vaporfection.com), the company offers an industry award winning medical vaporizer product. Medbox, through its newly established subsidiaries, is developing the following ancillary services tailored to the alternative medicine industry: cannabidiol research and development, real estate acquisitions and subsequent lease programs and management services to alternative medicine dispensaries and cultivation centers.

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 as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward looking statement was made.

Contact Information
Investor Relations:
Stephen Hart
Hayden IR
+1- 917-658-7878
[email protected] 

Medbox: 
For more information on Medbox, please call (800) 762-1452.

SOURCE Medbox, Inc.

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