XCHC Negotiates Seven-State Product Licensing and Management Package for its Cannabinoid-based Products and Operations for Key States Across America; First Contracts to be Signed and Announced in Short Order
COLORADO SPRINGS, Colo., July 10, 2013 /PRNewswire/ -- The X-Change Corporation (NASDAQ OTC: XCHC), a U.S. Company specializing in cannabinoid formulation-based health and wellness solutions, in a strategic growth initiative announces advanced negotiations regarding multiple product distribution licensing and management agreements spanning seven states across America, including Colorado, Nevada, California, Illinois, Massachusetts, Arizona, and Washington State. As previously announced, the Company already has several proprietary cannabinoid products and formulations ready for release through dispensaries, organic breeding facilities, secondary product distribution centers, confidentiality-protected patient-doctor tracking, and opt-in patient studies.
The Company expects to sign and announce the first state licensee for product licensing, distribution, and management arrangements shortly, and plans to put in place activities to implements these programs in compliance with each individual state regulatory authority on a state-by-state basis.
The planned agreements are designed to establish and empower licensees to produce and distribute the Company's cannabinoid-based formulations, while collecting data and studying potential efficacy in the seven chosen states as a first step toward entering the legal state markets, with each state having is own core operating unit to ensure individual state compliance and patient access. Current scientific data suggest that unlike many modern drug treatments, cannabis-based products potentially can be developed into effective medications with outstanding safety profile. As patients in the states with medical cannabis laws are allowed to make safe, informed decisions to legally administer cannabis-based preparations with physician recommendations for a variety of their ailments, the Company is committed to collaborating with the communities, their physicians and the regulators to obtain peer-reviewed clinical data. Further, the Company intends to support the establishment of confidential and privacy-sensitive, opt-in, individual informed consent based tracking procedures for patients and their doctors to promote the scientific documentation of patient outcomes in an effort to advance the efficacy of patient treatments.
The Company receives many requests and inquires daily from individuals around the world looking for cannabis-based treatment information and cannabis-extract based products for numerous critical ailments. Today's announced growth plan is designed for the Company to release its proprietary cannabinoid-based products through the licensed partners in each of the states in which the use of medical cannabis is legal as well as targeting markets in other states with its hemp products, which are not categorized as medical cannabis. Patient requests are increasingly diverse and voluminous, consonant with the progress and growing acceptance of potential for developing cannabinoid-based treatment for multiple diseases including cancer, chronic pain, post traumatic stress disorder (PTSD), influenza, HIV/AIDS, high blood pressure, arthritis, Alzheimer's, anti-aging, autism, asthma, auto immune disease, brain trauma (closed head injury), Crohn's disease, irritable bowel syndrome (IBS), diabetes, digestive illnesses, gastro intestinal reflux disease (GERD), glaucoma, methicillin-resistant Staphylococcus aureus (MRSA), multiple sclerosis (MS), and Tourette syndrome.
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.
Dr. Dorothy Bray
CFO, Sr Vp of Business Development
SOURCE The X-Change Corporation