Cannabis Science Signs Agreement with Prescription Vending Machines To Distribute Patented Marijuana Machines

Aug. 19, 2011

Cannabis Science, Inc., a U.S. biotech company developing pharmaceutical cannabis products, has entered into an exclusive distribution agreement with Prescription Vending Machines Inc. and contracted with PVM's principal Vincent Mehdizadeh to provide industry specific consulting and advisory services to Cannabis Science.

PVM has provided consulting services to over 30 clinics in California and has helped to organize and set up another 70 clinics nationwide; of these 100 clinics, 70 were turnkey assignments outfitted with Medbox machines and technology; 30 were established prior to the Medbox machine being available for sale. The company has sold and installed approximately 82 Medbox systems in the U.S. and in Canada. To date, PVM has generated in excess of $4.5 million in consulting revenues and sales of Medbox systems. PVM has generated $3.6 million dollars in revenues in the last 4 quarters alone. PVM is the only company in the world offering its proprietary blend of products and services.

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Vincent Mehdizadeh, president and CEO of Prescription Vending Machines Inc., said in a prepared statement, "If marijuana is to ever be taken seriously as a medicine, the industry needs to have a standard method of dispensing in place, similar to that found in the pharmacy industry. Our patented dispensing technology and software allows patients and marijuana outlets to work in concert with state and local authorities in order to promote overall integrity and legitimacy in the industry."