Form 8-K for MEDBOX, INC.
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
Pursuant to the terms of the Agreement, the VM Parties may on or before January 25, 2015, present a term sheet to the Company from an accredited investor to invest in not less than $1,000,000 in restricted common stock of the Company on terms as reasonably agreed to by the Board (the “Private Placement”). In addition, either as part of the closing of the Private Placement or otherwise at the request of Mr. Mehdizadeh, Mr. Mehdizadeh shall have the right to appoint a person nominated by Mr. Mehdizadeh with industry experience and reasonably acceptable to the Board as the fifth director of the Company.
The foregoing is a summary only and does not purport to be a complete description of all of the terms, provisions, covenants, and agreements contained in the Agreement or the Voting Agreement, and is subject to and qualified in its entirety by reference to the Agreement and the Voting Agreement attached to this Current Report on Form 8-K as exhibits 10.1 and 10.2 respectively.
The Company issued a press release, which is attached hereto as Exhibit 99.1, announcing entry into the Agreement and Voting Agreement.
Exhibit Number Description 10.1 Agreement, dated January 21, 2015 among the Company and the VM Parties 10.2 Voting Agreement, dated January 21, 2015 among the Company, the VM Parties, Siegel, Lowe, Love and Marsala 99.1 Press Release, dated January 26, 2015
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | email@example.com