Miami, FL, May 27, 2014 (GLOBE NEWSWIRE) -- MJ Holdings, Inc. (OTCQB: MJNE), a publicly traded company that
provides real estate financing and related solutions to licensed
marijuana operators, today announced that is has entered into an
agreement with Medbox, Inc. (OTCQB: MDBX), the pioneer in marijuana
dispensing technologies and a leader in licensed marijuana
consulting, whereby Medbox will market MJ Holdings' real estate
financial products and offerings to its roster of consulting
clients and will direct all incoming real estate related
opportunities to MJ Holdings.
Under the agreement, Medbox will receive a share of management
fees and profits realized from the real estate opportunities it
presents, in addition to warrants to purchase shares in MJ
"We are thrilled to have the opportunity to work with Medbox and
their team of professionals" said MJ Holdings, co-CEO, Shawn
"No other company in the marijuana space has the experience and
visibility that Medbox does and we look forward to the
opportunities that flow [to us] from this relationship" added MJ
Holdings co-CEO, Adam Laufer.
The agreement is for a minimum of six months, and renews monthly
thereafter, unless terminated by either party. The exercise price
of the warrants are adjusted each thirty days, throughout the first
6 months of the term, and are priced based on the weighted volume
average price of MJ Holdings' shares for the prior 30
About MJ Holdings, Inc.
MJ Holdings, Inc., a publicly traded company (OTCQB: MJNE),
acquires and leases real estate to licensed marijuana operators,
including, but not limited to, providing complete turnkey growing
space and related facilities to licensed marijuana growers and
dispensary owners. Additionally, MJ Holdings plans to explore
ancillary opportunities in the regulated marijuana industry. For
more information please visit us at www.mjholdingsinc.com.
The Company does not and will not, until such time as Federal
law allows, grow, harvest, distribute or sell marijuana or any
substances that violate the laws of the United States of
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. Headquartered in Los Angeles, Medbox,
through its wholly owned subsidiary, Medicine Dispensing Systems,
offers their 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 in
development of the following ancillary services catered to the
alternative medicine industry: merchant services and armored
transport for cash deposits, cannabidiol research and development,
real estate acquisitions and subsequent lease programs to
alternative medicine dispensaries, and alternative medicine
dispensary management services.
Medbox, Inc. is a publicly traded company, and is quoted on the
OTCQB, ticker symbol MDBX.
Safe Harbor Statement
This press release contains certain forward-looking
statements that are made pursuant to the "Safe Harbor" provisions
of the Private Securities Litigation Reform Act of 1995, as
amended. Words such as "expects," "anticipates," "plans,"
"believes," "scheduled," "estimates" and variations of these words
and similar expressions are intended to identify forward-looking
statements. These forward-looking statements concern MJ Holdings'
operations, economic performance, financial condition, financial
services and product offerings and are based largely on MJ
Holding's beliefs and expectations. These statements involve known
and unknown risks, uncertainties and other factors that may cause
the actual results, performance or achievements of MJ Holdings to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Certain of these factors and risks, as well as other
risks and uncertainties are stated in MJ Holdings' Annual Report on
Form 10-K for the fiscal year ended December 31, 2013 and in MJ
Holdings' subsequent filings with the U.S. Securities and Exchange
Commission. These forward-looking statements are made as of the
date of this press release, and MJ Holdings assumes no obligation
to update the forward-looking statements or to update the reasons
why actual results could differ from those projected in the
Source: MJ Holdings, Inc.