DALLAS, Feb. 13, 2013 /PRNewswire/ -- The X-Change Corporation (NASDAQ OTC: XCHC) (X-Change Corp. or the Company), a U.S. boutique company whose niche is cannabis and hemp based extracts and products that target medical cannabis, cosmeceutical, nutraceutical, and social usage solutions through multiple Phytiva Brand product lines and solutions, is proud to announce it has entered into a historic agreement with WOLASTOKWIK NeGoot-Gook, Maliseet Nation at Tobique (the "Maliseet Nation") of New Brunswick, Canada, to participate in the development and growth of a legal cannabis growing facility, clinical laboratory, manufacturing and production facility, and treatment center (the "Agreement").
The Agreement allows for legal cannabis and hemp-based medical research and treatments with true global significance, as the operations under the Agreement facilitate medical cannabis and hemp research, clinical trials, and treatments, among numerous other opportunities for the parties to the Agreement, for the first time in North America. And these historical groundbreaking operations, including medical treatments, will be open to the citizens of the world in a legal manner. The sovereignty of the Maliseet Nation allows this venture to accomplish its goals of helping patients while being legally compliant.
The Agreement was effectuated by the Company's purchase of the twenty-five percent (25%) stake in a joint venture from Cannabis Science, Inc. (NASDAQ OTC: CBIS). Details of the Company's stock-based asset purchase will be released in a Form 8K to be filed promptly.
X-Change Corp.'s agreement with the Maliseet Nation provides the parties with unprecedented opportunities to develop a model that the Company can replicate around the world from cannabis growth, to clinical research and development, production, and medical treatment of patients with a wide range of conditions believed to be effectively treatable with cannabis extract based formulations. As the parties work to successfully realize the terms of the Agreement, the Company and the other parties will have the opportunity to develop additional clinics, laboratories, production facilities, and hospitals.