LOS ANGELES, Oct. 20, 2014 /PRNewswire/ -- Medbox, Inc.,
(OTCQB:MDBX), the leading licensing, infrastructure and security
specialist, patented technology provider, and partner to the
cannabis industry, is pleased to announce the appointment of Mr.
Doug Mitchell as its Chief Financial
Officer.
Mr. Mitchell is replacing Thomas
Iwanski who served Medbox as a part time CFO, and resigned
to facilitate the continued development of the company with the
addition of a full time CFO. Mr. Iwanski has no disagreements
with management and will continue to be available to the company as
a consultant. Mr. Guy Marsala, CEO
of Medbox, thanked Mr. Iwanski for his service noting "the past 18
months has generated a significant and positive transformation for
Medbox as the company continues to make bold moves as the leader in
this high growth industry."
Mr. Mitchell is a senior financial executive with over 25 years
of experience in public and corporate financial executive positions
with expertise in SEC compliance, mergers & acquisitions,
accounting controls and process improvement. Mr. Mitchell's
previous positions have included CFO for Chicago Pizza &
Brewery, Inc., now renamed BJ's Restaurants, Inc., a multi-location
restaurant chain; V.P. Finance for Borland Software Corporation,
where he raised $200 million through
a convertible debt offering; and CFO for Commerce Energy Group,
Inc., a $450 million independent
marketer of retail electricity and natural gas, where he helped to
successfully sell the company to another industry participant
during the 2008 credit crisis. He also served as interim CFO for
eTelecare Global Solutions, Inc., a multi-national call center
headquartered in the Philippines,
as it prepared for a U.S.-based IPO.
Earlier in his career, Mr. Mitchell served as Senior Audit
Manager at Coopers & Lybrand (now part of
PricewaterhouseCoopers). He earned a Bachelor of Science degree in
Business Administration from the University of
Southern California, and his CPA certificate in California.
Mr. Guy Marsala, CEO of Medbox,
stated, "I'm delighted that Doug has joined our senior executive
team as our CFO as we lead Medbox to an exciting new plateau, drive
rapid growth and build shareholder value. Doug brings a wealth of
financial and operational knowledge and executive maturity to our
team."
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
hart@haydenir.com
Medbox:
For more information on Medbox, please call (800)
762-1452.
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SOURCE Medbox, Inc.