SOURCE: The X-Change Corporation

January 05, 2011 08:00 ET

The X-Change Corporation Announces Commencement of Equity Financing

DALLAS, TX--(Marketwire - January 5, 2011) - The X-Change Corporation (PINKSHEETS: XCHC) today announced the commencement of the conversion from debt to equity of a debenture held by La Jolla Cove Investors, Inc. The debt agreement includes a feature whereby a conversion of debt to equity requires an exercise of warrants at the rate of ten times the amount of debt converted. Warrants are exercised at $1.00 per share. The total amount of debt held by La Jolla Cove is $250,000, and the minimum conversion is expected to be not less than 5 percent per month. This financing arrangement has been in place since 2007.

The company is pleased to be able to utilize this financing for the second-generation furnaces that will produce solar-grade silicon through its subsidiary, PolySilicon. The furnaces and the production will create jobs in the green-energy field within the US. The Company expects to be producing solar-grade silicon in the first quarter of 2011.

About The X-Change Corporation
XCHC is a public company founded in 1969 to create value for its shareholders by identifying, acquiring, and providing services for private companies that are good growth candidates.

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 works 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. The X-Change Corporation does not undertake any duty nor does it intend to update the results of these forward-looking statements.

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