Attached files
EXHIBIT NO. 99.1
The X-Change Corporation
File No. 002-41703
Form 8-K
Report date: May 31, 2011
PRESS RELEASE
FOR IMMEDIATE RELEASE
DALLAS, TX--(Marketwire - 05/25/11) - The X-Change Corporation (Pinksheets:XCHC
- News) today announced that through its subsidiary, LDC Collections Systems,
Inc., it has acquired a 155-foot ship called The Texas Star Casino, fully
equipped as an offshore casino and entertainment destination. The ship was
acquired from CJP Entertainment, LLC in an all-stock transaction for 2,000,000
shares of newly issued X-Change restricted common stock. The casino ship has 250
slot machines, various gaming tables including poker, craps, and roulette.
The ship is currently located in Freeport, Texas, and the Company intends to
find appropriate dockage in the Galveston area. The Texas Star was built in 1977
and converted to its present form in 1986. It has a cruising speed of 11 knots
and will operate outside the nine-mile Texas sovereignty limit, providing
entertainment, drinks and dining, and two bars with a galley to serve light
food.
The Company is currently in talks with a Nevada licensed gaming operator to
joint venture the operation of the ship. There will be some improvements made on
the ship and the equipment for customer comfort prior to starting operations. It
is currently the plan to have the ship in operation at the beginning of the fall
season. Additional information can be found on the company web site at
xchccorp.com.
"In addition, we are pleased to announce today the appointment of a third
outside director to X-Change's board," said X-Change CEO, Dr. Haviland Wright.
"R. Wayne Duke is the Dallas-based chairman and CEO of Industrial Clearinghouse,
a large clearinghouse for industrial MRO products serving the petroleum
industry."
ABOUT THE X-CHANGE CORPORATION ?The X-Change Corporation is a publicly traded
company. In March, 2010, X-Change began a restart after a period of dormancy.
Management believes that the new direction indicated by the acquisition of The
Texas Star will better serve the Company's shareholders.
FORWARD-LOOKING STATEMENTS?Information provided and statements contained in this
press release that are not purely historical are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, Section 21E of
the Securities Exchange Act of 1934 and the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements only speak as of the date of this
press release and X-Change Corporation assumes no obligation to update the
information included in this press release. Statements made in this press
release that are forward-looking in nature may involve risks and uncertainties.
These statements include, without limitation, statements regarding the effects
or benefits of the proposed transaction and often include words such as
"approximately," "believe," "expect," "anticipate," "intend," "plan,"
"estimate," "may," "will," "continue" or similar expressions. These
forward-looking statements are not historical facts, and are based on current
expectations, estimates and projections about X-Change Corporation's industry,
management's beliefs and certain assumptions made by management, many of which,
by their nature, are inherently uncertain and beyond X-Change Corporation's
control. Accordingly, readers are cautioned that any such forward-looking
statements are not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict, including,
without limitation, specific factors discussed herein and in other releases and
public filings made by X-Change Corporation (including X-Change Corporation's
filings with the SEC). Although X-Change Corporation believes that the
expectations reflected in such forward-looking statements are reasonable as of
the date made, expectations may prove to have been materially different from the
results expressed or implied by such forward-looking statements. Unless
otherwise required by law, X-Change Corporation also disclaims any obligation to
update its view of any such risks or uncertainties or to announce publicly the
result of any revisions to the forward-looking statements made in this press
release.
CONTACT:
CONTACT INFORMATION:
Haviland Wright
President & CEO
Email: info@xchccorp.com
Tel: 1 (972) 386-7360
Web: www.xchccorp.co