COLORADO SPRINGS, Colo., Sept. 26, 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 selected the name Endocan Corporation as the new, industry-driven name of the Company. The name change began with the Nevada Secretary of State filings yesterday. The next steps will include FINRA for a symbol change to match the new name. The Endocan™ name change will have no effect on the Company's share structure, corporate organization, business model operations, or corporate governance.
The Company has established two subsidiaries in The Netherlands, including Endocan B.V., for the Company's expanding European operations. In the United States dispensary owners will be licensed to use the Company's brands and formulations for retail distribution through licensing agreements with the Endocan™ brand name. Endocan Corporation now serves as the enhanced brand and refined image to be used in conjunction with all of the Company's activities, products, and services. The updated and revised Company website and corporate collateral package, will be released shortly.
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.
"The Company's branding is an essential component in our messaging to reflect the nature of our cannabinoid based products that we are developing to treat a variety of illnesses," stated Dr. Dorothy Bray, President of Endocan Corporation.
About Endocan Corporation
Endocan 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 X-Change Corporation