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