Endocan announces entrance into Colorado medical cannabis market with plans for strategic growth and development within Colorado's uniquely accommodating legal and regulatory environment
COLORADO SPRINGS, Colo., Oct. 25, 2013 /PRNewswire/ -- Endocan Corporation (NASDAQ OTC: XCHC), a U.S. Company specializing in cannabis and cannabinoid formulation-based health and wellness solutions worldwide, is pleased to make public the Company's on-going negotiations with third parties in Colorado to initiate cooperative and joint venture arrangements for production, testing, and distribution of products under the Endocan™ brand name. This includes the long awaited Endocan product line expected for release in early 2014, with Colorado as an early target market in the United States for testing in several critical ailment categories (see more at http://www.endocan.com/products/critical-ailments).
Endocan Corporation's presence in Colorado stems not only from the legal medical cannabis regulatory environment but also from the general openness with which Colorado has embraced cannabis, including the extension of legalization to recreational cannabis use for individuals over the age of 21, with a forward looking regulatory and taxation policy. This environment speaks highly of the future of Endocan Corporation's development opportunities in the state, which has an estimated $200 million medical cannabis market at this early stage.
Robert Kane, CFO & Senior Vice President of Business Development of Endocan Corporation, stated, "Colorado has now been my home for 3 years, my family having relocated to Colorado Springs. We have found Colorado to be a progressive, open-minded state with a compassionate position on improving the quality of life of its citizens. The backdrop to Colorado's first-in-nation approach to a sensible treatment of cannabis and hemp is the ability in the state for Endocan Corporation to innovate in its mission to deliver top-quality cannabis and cannabinoid based patient care. Other jurisdictions will inevitably follow Colorado's lead in the U.S., and we want to be at the forefront of each of these burgeoning markets with Colorado as a model."
About Endocan Corporation
The brand name Endocan™ was chosen by the Board as a direct reference to the endocannabinoid system of the human body. The endocannabinoid system is a group of neuromodulatory compounds and their receptors that are involved in a variety of fundamental physiological processes including pain-sensation, immune function, stress, sleep, mood, appetite, and memory. Cannabinoids from plants, including those found in the Cannabis genus, as well as those autonomously produced within living biological systems, work together in the operation of the endocannabinoid system. The modulation of this system is the basis for cannabinoid-based medical treatments to assist patients to improve their health and well-being.
Endocan Corporation, (FKA 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, Endocan 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 words 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. The Company does not undertake any duty nor does it intend to update the results of these forward-looking statements.
CFO, Sr Vp of Business Development
SOURCE Endocan Corporation