BOCA RATON, Fla., Jan. 31, 2024 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “the Company”), a company dedicated to the discovery, development and commercialization of aerospace technologies and advanced materials, announced today that it has signed a Memorandum of Understanding (“MOU”) with an industry-leading innovator in recycling, compounding and pelletizing systems for converting waste materials into useful eco-friendly products. The agreement formalizes the existing relationship with Xeriant, which began several months ago, and establishes a framework leading to a definitive agreement for an eventual acquisition. Xeriant will significantly benefit in several strategic areas critical to the success of NEXBOARD and future DUREVER™ products. Xeriant has limited its disclosure in this announcement because of the proprietary technology involved.
“There is great synergy between our companies. The partnership delivers decades of expertise and the specialized equipment and systems required for processing materials to manufacture NEXBOARD and creates a barrier to competition. Cost-effectively producing NEXBOARD is enabled by having access to abundant, clean and consistent source materials, which is also accomplished through this agreement,” commented Xeriant CEO, Keith Duffy.
About Xeriant, Inc.
Xeriant, Inc. is a holding and operating company dedicated to the discovery, development and commercialization of advanced materials and technology related to next generation air and spacecraft, which can be successfully integrated and commercialized for deployment across multiple industrial sectors. We seek to partner with and acquire strategic interests in visionary companies that accelerate this mission. Xeriant’s advanced materials line is marketed under the DUREVER™ brand, and includes NEXBOARD™, an eco-friendly, patent-pending composite building panel made from plastic and cardboard waste, designed to replace products such as drywall, plywood, OSB, MDF, MgO board and other materials used in construction. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport.
For more information, please go to www.xeriant.com
SAFE HARBOR FORWARD-LOOKING STATEMENTS
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Xeriant, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our ability to attract investors.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make, and investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
This press release does not constitute an offer of any securities for sale.
Xeriant, Inc.
Investor Relations Dept.
(561) 491-9595
IR@xeriant.com
Xeriant.com
