COLORADO SPRINGS, Colo.,
Sept. 6, 2013 /PRNewswire/
-- The X-Change Corporation (NASDAQ OTC: XCHC), a U.S. Company
specializing primarily in cannabinoid formulation-based health and
wellness solutions, is pleased to announce that the Company's Board
of Directors has carefully considered and affirmatively decided to
change the name of the Company. The company share structure will
remain the same, as there will be no consolidation or share split
in this corporate action. The new Brand name will be announced next
week and will better position the Company in the global medical
cannabis market.
The new Company name will serve as the enhanced brand and
refined image to be used in conjunction with all of its activities,
products, and services. Dispensary owners will be licensed to
use the Company's brands and formulations for retail distribution
through licensing agreements.
Through the current Medbox agreement, the Company expects to
enter into ten additional management agreements with the owners of
dispensary and cultivation operations in the states of Arizona, California, Illinois, Massachusetts, Nevada, and Washington State. Building
on the new Company name, this brand will also serve as the primary
name of international subsidiaries and their operations globally,
for products already set for release, for various new products and
services under study or development, and for worldwide website and
social media modalities.
Specifically, initial regulatory steps to effectuate the name
change have begun in order to maximize the branding of the
Company's launch of its Arizona
dispensary management and of its management operations pursuant to
the agreement with Medbox, Inc. regarding legal medical cannabis
dispensary and cultivation facilities around the country.
"We are very excited about the upcoming corporate name change.
The Company's branding is a critical component in our messaging and
will provide an enhanced platform for the important work that the
Company is undertaking for the benefit of science, solutions for
patients, and the integrity of the markets," stated Robert Kane, CFO and Senior Vice President for
Business Development of XCHC. Mr. Kane continued, "We expect
to announce the new name and branding campaign next week."
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
President
Dr. Dorothy Bray
info@xchangecorp.com
www.xchangecorp.com
+1.866.326.5595
Investment Inquiries
Robert Kane
CFO, Sr VP of Business Development
rkane@xchangecorp.com
+1.561.420.4824
SOURCE The X-Change Corporation