XCHC President & CEO, Robert Kane, Issues Cannabinoid Financial Industry Insight and Illustrates Possible Economic Impact to US Economy at Executive Breakfast
DALLAS, Feb. 28, 2013 /PRNewswire/ -- X-Change Corp. (NASDAQ OTC: XCHC), a U.S. company specializing in cannabis and hemp based extracts. The Company is focused on introducing consumer product lines that target medical cannabinoids, cosmeceutical, nutraceutical, and social usage solutions through multiple Phytiva Brand product lines, products, and services. Earlier this week, Robert Kane addressed business executives, business owners, investors, and other entrepreneurs, at an Executive Breakfast in Denver, hosted by Cloverleaf Consulting.
"My mission in my position in the Company and the industry in general is to establish the Cannabinoid Market as a viable investment alternative to all investors. These illustrations are vital for the progression of this necessary and valuable industry to establish itself. And development of this industry will result in quantifiable profits and taxes that support community programs, such as schools and civil services that are so desperately needed at this time. I'd like to thank, Chloe Villano, President of Cloverleaf, for organizing an event at which we could share this important financial data to start a legitimate, serious financial conversation with the world," stated Mr. Kane, President and CEO of X-Change Corporation.
Mr. Kane shared and updated the Company's Phytiva Brand progress with regard to the upcoming product release of the European Phytiva product line. New treatment products have been internally approved for additional commercials. These will be among the first commercials for cannabinoid-based products to air. This is in addition to progress made with the Maliseet in regards to the new facility in New Brunswick, Canada.
Mr. Kane's presentation focused on how to look at the potential billion-dollar cannabinoid industry through the eyes of the investor and the financial due process of the fundamental establishment of the legal cannabinoid industry. The due process contains progression in the areas of economics, politics, cultural, and social issues.
Also, Mr. Kane released the most updated statistics on the Medical Cannabis Index ", nicknamed MCANI ", which Mr. Kane created in June of 2009. From Election Day 2012 the Medical Cannabis Index or "MCANI" outperformed the S&P 500 since Election Day when Colorado and Washington successfully passed recreational use of cannabis.
His presentation also included a GDP illustration in which the cannabinoid market has the potential to equate to 0.64% of GDP. Mr. Kane also presented an unemployment illustration in which the cannabinoid industry lowering domestic unemployment by 32%, and could potentially provide jobs to over half a million people and potentially create over $100 Billion in new, taxable wages.
About Phytiva Brand Product Lines
Phytiva expects to develop and launch various innovative product lines. The first is the Phytiva Brand European Line, which is an inventive line that is a hybrid of a proven, existing product line that has been well-managed and conservatively-run for over a decade with a Cannabinoid based product line, utilizing the unique and potent benefits of Cannabinoids. Phytiva's revolutionary formulations target not just the symptom, but also the cause. Cannabinoids and their sources constitute an ideal base for therapeutic solutions and have been utilized for centuries in skin and other remedies.
In the near term, Phytiva strives to be one of the quintessential cosmeceutical and nutraceutical brands in the world. As cosmetics and nutrition are personal, over-the-counter markets, they continuously evolve with the introduction of new formulations and products, creating a multibillion-dollar global market opportunity. The Company believes that Phytiva's lines will capture a substantial and profitable portion of that market, as Phytiva becomes a household name.
About The X-Change Corporation
X-Change Corp. is U.S. Boutique Company whose niche is Cannabinoid based extracts and products that target medical cannabis, cosmeceutical, nutraceutical, and social usage solutions through multiple Phytiva Brand product lines, products, and services. These new Phytiva lines will be launched with Cannabinoid based formulations through the launching of a combination of retail and wholesale products, medical cannabis dispensaries, cannabis research in clinics and laboratories, as announced for example with the Maliseet Nation in Canada, and other legal state and foreign grow operations, on a jurisdiction by jurisdiction approved basis.
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.
President & CEO
SOURCE X-Change Corp.