COLORADO SPRINGS, Colo.,
Sept. 5. 2013 /PRNewswire/
--
Aug. 30, 2013 -- The
X-Change Corporation (NASDAQ OTC: XCHC), a U.S. Company
specializing primarily in cannabinoid formulation-based health and
wellness solutions, is pleased that the DOJ has provided broad and
historic guidance to all federal authorities to defer to states'
cannabis laws and regulations, including not challenging general
legalization laws in Colorado and
Washington State. Federal action
is sanctioned in specific circumstances, such as in preventing
violence and use of firearms, distribution to minors, poor state
regulatory systems, and cultivation on federal lands. The impact of
yesterday's announcement by the Deputy Attorney General,
James M. Cole, is groundbreaking and
will inevitably result in enhanced markets that benefit physicians
and patients seeking cannabinoid-based treatments in the nearly two
dozen states and jurisdictions that have enacted medical cannabis
laws. This federal guidance also points other states to a clear
pathway to legalizing medical cannabis without concern for undue
federal interference, which will give patients unprecedented
treatment opportunities throughout the country.
Importantly, medical cannabis companies, such as X-Change Corp.,
will not be penalized for success in the medical cannabis market,
as the DOJ ended uncertainty about enforcement distinctions based
on commercial size and for-profit status. Working within state
regulatory regimes, the new federal policy allows X-Change Corp. to
more confidently and efficiently manage logistical operations,
supply chains, research and development efforts, and other
commercial variables that produce economies of scale and better,
more cost effective products and services. The new legal landscape
will also permit the Company to better utilize our expert
management and development team in both Europe and North
America.
Aug. 21, 2013 - The
X-Change Corporation is pleased to announce the signing of
management agreements with a state licensed Arizona medical cannabis dispensary prepared
to launch operations, serving Arizona patients in a matter of weeks. The
revenues generated will permit X-Change Corp. to further pursue
innovation in patient-beneficial product research and development
as the Company fulfills its management role. X-Change Corp.
commits to meeting the highest standards in dispensing,
cultivation, and infusion services envisioned under the
agreements.
Aug. 20, 2013 - The
X-Change Corporation entered into a multi-year, strategic growth
agreement with Medicine Dispensing Systems, a wholly owned
subsidiary of Medbox, Inc., a publicly traded company, to provide
its scientific and clinical expertise for ten medical cannabis
dispensaries and cultivation facilities in the states of
Arizona, California, Illinois, Massachusetts, Nevada, and Washington State. This
milestone agreement provides X-Change Corp with the real
opportunity to develop premiere branding and to introduce the
Company's proprietary cannabinoid-based products and formulations
within each state's regulatory framework.
Aug 16, 2013 - Medbox, Inc.
(www.medboxinc.com), a leader in providing industry specific
consulting services and patented systems to the medical and retail
industries, announced the signing of a deal with X-Change
Corporation to provide consulting services in the legal marijuana
markets of Nevada, California, Arizona, Washington
State, Massachusetts, and
Illinois.
The contract, worth $5.3 million
dollars, is to be paid in increments based on performance
criteria being met by Medbox. The project consists of formation of
corporate entities, application assistance in the target states,
build-out of physical dispensaries and cultivation facilities in
those states, and also securing management relationships between
the formed entities and X-Change Corporation.
About The X-Change Corporation
The X-Change Corporation is currently developing new natural
cannabinoid containing products based on innovative formulations to
utilize the unique and potent benefits of the cannabis and hemp
plants. Medicinal properties of cannabis and hemp have been known
and applied for thousands of years. With the aid of scientific
research, The X-Change Corporation is translating such knowledge
into development of effective cannabinoid formulation-based health
and wellness solutions as well as cosmeceutical, nutraceutical, and
food brands throughout the world. The Company's health and
wellness, nutritional, and cosmetics lines will address personal
needs and will evolve with the introduction of new formulations and
products, advancing the Company within the expanding
multibillion-dollar global market.
Forward Looking Statements
This Press Release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934. A statement containing
works such as "anticipate," "seek," intend," "believe," "plan,"
"estimate," "expect," "project," "plan," or similar phrases may be
deemed "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Some or all of
the events or results anticipated by these forward-looking
statements may not occur. Factors that could cause or contribute to
such differences include the future U.S. and global economies, the
impact of competition, and the Company's reliance on existing
regulations regarding the use and development of cannabis-based
drugs. X-Change Corp. does not undertake any duty nor does it
intend to update the results of these forward-looking
statements.
The X-Change Corporation
Dr. Dorothy Bray, President
Mr. Chad S. Johnson, Esq., COO &
General Counsel
info@xchangecorp.com
www.xchangecorp.com
+1.866.326.5595
Investment Inquiries
Mr. Robert Kane, CFO, Sr Vp of
Business Development
rkane@xchangecorp.com
+1.561.420.4824
SOURCE The X-Change Corporation