SAN DIEGO, Jan. 28, 2014 (GLOBE NEWSWIRE) -- Medical Marijuana, Inc. (OTC Pink:MJNA) is pleased to inform shareholders and the general public that its wholly owned subsidiary, Wellness Managed Services, has reached an agreement with MPS Security to launch a new company, MPS International (MPSI), as the nation's first security and armored transport service provider to the cannabis industry. To address the rapid increase in crime associated with the marijuana industry, MPSI will focus on providing armed and unarmed security for retail and grow operations, inventory and revenue transport, compliance oversight and workplace protection to the medical and adult use cannabis industry in all current and future marijuana legal markets.
KDVR reports that when Colorado's medical marijuana law took effect in 2009, there were 10 medical marijuana related burglaries. In 2012, that number jumped to 102 marijuana related crimes. Mike Julian, Board Member of Medical Marijuana, Inc. states, "This was during a time and place that only medical marijuana was involved in legal commerce. Now that adult use 'recreational' marijuana is legal for sale in Colorado, the number of grow operations and retail outlets will increase dramatically. And with escalating competition, a notable increase in vandalism and sabotage to competing operations, something so far completely unaccountable in industry-related crime statistics, will become a predominant factor in the security of these entities."
Another major safety consideration within this developing industry is security during the transport of related assets. Mike Roberts, CEO of MPSI, states, "Large amounts of product will be moved from grow to wholesaler, warehouse, testing facilities, bakeries, infusion laboratories and finally to retail locations. Post transaction, and especially right now with federal regulations prohibiting FDIC insured banks from offering financial services to cannabis industry businesses, large amounts of cash will need to be transported between parties securely as this creates an easy target for predators and competing businesses. MPSI's security solution offers risk mitigation of transporting inventory and revenue between locations providing the business consumer personal safety and security from loss caused by a would-be criminal element." There is currently no national company offering armored transport to the cannabis industry, making it a market in dire need of this level of quality service.
MPSI is aggressively exploring the purchase of, or partnerships with, closed circuit television electronic security surveillance solution and access control providers to further increase its range of services offered to the cannabis industry. With government implementing regulations on industry members mandating that, state enforcement agencies have unrestricted access to live and recorded CCTV video of cannabis operations, as in the case of Colorado where video must be retained and viewable for no less than 40 days post capture, every dispensary in that state must have CCTV video to remain in compliance with state law.
Roberts continues, "Using an average of one armed security officer working 10 hour shifts, 7 days per week billing at the industry standard of $25/hour armed, 52 weeks per year, annual gross revenue created by just 11 locations is more than $1,000,000 for just static physical security. Once an adequate footprint is established in the U.S. market, MPSI will evaluate the benefits and prospect of moving into the international cannabis industry security market, beginning with Canada." There are over 448 dispensaries in Colorado alone, while in California there are an estimated 2,700 dispensaries, co-operatives, wellness clinics, and taxi delivery services.
The benefit to Medical Marijuana, Inc., is Wellness Managed Services' 50% ownership in MPSI. MPSI's website will be launched next month and this adds to Wellness Managed Services' "business in a box" model. MPSI has secured a team in Colorado to actively service accounts and expects to expand to Arizona in February.
About MPS Security:
Formerly Minders Protective Services, MPS Security was created in 2003 as the security division of National Business Investigations, Inc., a private investigations firm founded in 1967 by a former law enforcement officer in Orange County, CA. The company provided general investigation and security services throughout California and later expanded to Colorado in 1977.
MPS Security is a full-service security firm focused on physical and asset security using uniformed security officers for site security, events, residential communities and commercial properties. MPS also offers access control, security patrols, loss prevention, fraud detection and undercover officers. The Executive Protection branch of MPS Security provides risk mitigation and management services using individuals with unique skill-sets and highly trained in executive protection, armed security in workplace/employee protection, and travel safety escorts.
About Medical Marijuana, Inc.
Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value. For more information, please visit the company's website at: www.MedicalMarijuanaInc.com
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
Medical Marijuana, Inc., CannaVest Corp., and HempMedsPX do not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). These companies do grow, sell and distribute hemp-based products and are involved with Federally Legal Distribution of Medical Marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.
CONTACT: For further information, please contact:
Investor relations contact:
Stuart T. Smith
Medical Marijuana, Inc.
Toll Free: 888-OTC-MJNA (888-682-6562)