HOUSTON, TX -- (Marketwire) -- 10/12/12 -- X-Change Corporation (OTCQB: XCHC) is pleased to provide information on the Company's present and past development, acquisitions, partnerships and finances, as well as the launch of it's new website. These divisions include the acquisition of Guardian Telecom, Inc. and Cutbank Operating, Inc., the partnership with W.W. Grainger, Inc., the distribution deal with Montana Datacom, Inc., and services to ASAM Distributor Saudi Aramco Oil Company. Moving forward with all the recent progress within the Company, X-Change Corporation is announcing the forthcoming launch of its website, http://www.xchange-corp.com.
The X-Change Corporation previously closed a transaction with Guardian Telecom, Inc. a leading company in the design and manufacturing of industrial communication equipment for oil and gas companies. The acquisition of Guardian Telecom, Inc. will expand X-Change Corporation's product line and services into the industrial, petrochemical, power facilities, refineries, exploratory drilling, operation of wells on leases, and the servicing of drilling and work over rigs. The Company is expected to file a Super 8K with the Securities and Exchange Commission. Guardian has recently expanded its contract manufacturing division for projected revenues of $10 Million for end of year 2013. Guardian Telecom, Inc.'s ending 2012 revenues were SIX MILLION FOUR HUNDRED THOUSAND ($6,400,000.00). Guardian has manufacturing facilities in Calgary, Canada and has sales and technical support offices in the United States, UAE and Dubai.
Guardian Telecom has recently executed a supplier agreement with W.W. Grainger, Inc. for worldwide distribution of Guardian's Products and services. This partnership will enable the Company's products to be sold in the Grainger Supplier Handbooks, websites, e-commerce initiatives, and through other media sources. Grainger will use its SKU to promote and sell Guardian Telecom's product lines. Grainger offers more than 400,000 products in distribution worldwide, ranging from mop buckets and power drills, to water pumps and power generators to drill bits. In addition, it will source more than a million more products on request from customers, using the Internet as a sourcing tool. W.W. Grainger, Inc. with 2011 sales of $8.1 billion is North America's leading broad line supplier of maintenance, repair and operating products, with expanding global operations.
Cutbank Operating, Inc., based out of Houston, Texas, executed a Letter of Intent with a private oil and gas fund for participation in working interest for an initial 5,000 acre, 8 well drilling program in Daniels County, Montana. This enables X-Change Corporation's ability to fully operate as an independent oil and gas operator in the developmental and operation of wells. The funding commitment is for $65 MILLION. Upon success of the production of the first 8 wells, the fund will provide an additional $175 million in working interest. The company is expected to begin its drilling program in early November. Cutbank Operating Inc. is an oil and gas services company that is engaged in acquisition, development drilling, exploitation, exploration and production of crude oil and natural gas. Cutbank Operating Inc. provides the best technologically advanced solutions to a myriad of problems encountered in exploitation and exploration of oil and gas throughout the Bakken Shale. The Bakken has reserve estimates up to 6-24 billion barrels of recoverable oil. More than 6000 wells are active in the Bakken shale, and wells continue to be drilled in North Dakota and NE Montana.
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