Los Angeles, California (FSCwire) - Notis Global Inc. ("Notis"), formerly Medbox, Inc. (OTCQB MDBX) today announced the launch of its new company name, visual brand identity and website. Notis specializes in cultivation, production and consulting and will bring operational excellence and pioneering expertise to the multi-billion dollar, worldwide legal cannabis industry. Notis will begin trading under the symbol NGBL, starting March 21, 2016.
Legal cannabis is one of the fastest growing industries in the United States. It is projected to be worth $4.4 billion this year according to California research company ArcView, up from $2.7 billion in 2014. Already, 23 states and Washington D.C. have legalized medical marijuana and up to 14 states are expected to put legalization initiatives on voting ballots this November.
Notis' leadership team brings an unparalleled set of skills and experience to help shape and lead the legal cannabis industry. Former Frito Lay executive, Jeff Goh is Notis' president and CEO. He is a multi-talented, C-Level executive with extensive agriculture, consumer packaged goods, food safety and branding experience. Goh is known for his leadership in operational management and innovations in food manufacturing around the world.
"We have a tremendous opportunity to help define and elevate the legal cannabis industry, moving it into a more mature and accepted mainstream product," said Goh. "Together, our leadership team and Board of Directors have the business background and savvy to guide cannabis advancement as laws change across the country and around the world."
The Notis Global name was chosen for its specific meaning. Used as a verb, Notis (pronounced "NOH-tis") means to make aware of and bring attention to, or to be deserving of special attention. "Global" to reflect the company's strategy to focus on international partnerships and establish a worldwide presence.
"Our goal is to grow confidence in cannabis and its positive attributes, specifically health and wellness," said Aron Levinson, Notis Global SVP of business and brand development. "It is important for our brand to reflect credibility, compliance and consistency as we respond to the growing worldwide demand for cannabis products."
In conjunction with its partners, including Whole Hemp Company, Notis is on track to be one of the largest U.S. growers, processors and revenue producers of hemp products from seed to sale. With cultivation facilities located in Pueblo, Colo., Notis uses best farming practices, growing product outdoors and in greenhouse facilities. Notis is positioned to become a leading U.S. based provider of Cannabidiol (CBD) oil with a dedicated sales team, driving revenue and bringing the product to market. Through key partnerships, Notis is working with some of the world's leading researchers on continuous innovations of CBD-related medical products to help patients around the world.
"We strongly believe this industry will continue to grow and we are ready to lead its maturation, working withour partners toward cultivating and bringing the best products to consumers and researchers around the world," Goh said. "As new legislation is approved across the U.S., we have a strong established operation in place to serve the growing demand."
Notis Global will begin trading in the OTCQB market under its new symbol NGBL March 21, 2016, replacing the stock's former symbol MDBX. The new CUSIP number is 66980B 100.
About Notis Global
Based in Los Angeles and doing business around the world, Notis Global is a pioneer in the burgeoning, multi-billion dollar legal cannabis industry. The company and its partners are working to bring best practices and drive significant revenues in the cannabis industry. Through key partnerships, Notis is a leading U.S. based provider of Cannabidiol (CBD) oil and is a partner in one of the largest hemp operations in the United States. Notis also invests and partners in the the operation of several licensed retail dispensaries across the country. For more information, visit http://NotisGlobal.com
Certain statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements, including, but not limited to, participating in the growth of the legal cannabis industry and the future of the industry in general, 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.
Released February 23, 2016