|By PR Newswire||
|December 13, 2012 02:52 PM EST||
DALLAS, Dec. 13, 2012 /PRNewswire/ -- X-Change Corporation (NASDAQ OTC: XCHC), a U.S. publicly-traded company has acquired both the Cannabis Science, Inc. (NASDAQ OTC: CBIS) "Phytiva" Brand of products, including all associated rights and companies, and the CBIS European joint venture with Dupetit Natural Products, GmbH. Dupetit brings a successful 18-year history as a cutting-edge German hemp Cosmoceutical and Nutraceutical specialty enterprise.
The first products to be released under the Phytiva Brand will be unique lines of anti-aging skin care and rejuvenation products with innovative and proprietary hemp formulations. These initial products are expected to include lip balms, extracts, supplements and dermal creams, all targeting a wide range of cosmetic and ailment-related usages.
The company will maintain an aggressive posture to develop on-going and dynamic lines of retail, professional, physician-based, and private-label products for over-the-counter (OTC) sales under the Brand "Phytiva." The immediate aim is to distribute its Cosmoceutical (cosmetic) and Nutraceutical (nutrition) products for OTC markets throughout Europe and North & South America.
X-Change Corp. will target the global Cosmoceutical market, which is estimated to be over $55 billion dollars on an annual basis. Further, the company plans to market its anti-aging, rejuvenating products in a global campaign which is currently estimated to be more than $274 billion in the coming year, with $119 billion in fitness, disease, and appearance.
To accommodate expected growth, some members of the CBIS management team will be joining X-Change Corp. The Company has appointed the following individuals to the Board of Directors:
- Robert Kane – President & Chief Executive Officer
- Alfredo Dupetit – Executive Vice President, European Operations & Director
- R. Wayne Duke - Director
With the launch of this venture, a new website is expected to be online live for those wanting more information. The website is viewable at www.phytiva.com which outlines products, corporate information, and investor information in a clean, streamlined, and user-friendly fashion. Biographies for each member of the Board of Directors are also available on the website.
About X-Change Corp.
X-Change Corp. has acquired both the Phytiva Brand of products and all associated rights and Companies and the European JV with Dupetit from Cannabis Science, Inc. (NASD OTC: CBIS). The Phytiva products acquired by X-Change Corp. are unique hemp-inclusive products for skin care and rejuvenation. These are the first products of the company to be released publicly. These initial products include lip balms, extracts, supplements, and dermal creams, targeting a wide range of cosmetic and ailment-related usages.
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.
SOURCE X-Change Corporation
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