BOCA RATON, Fla., Dec. 16, 2021 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “The Company”), an aerospace company dedicated to Advanced Air Mobility (AAM), issues a year-end Company update from its CEO, Keith Duffy.
Dear Shareholders:
With the end of 2021 quickly approaching and several initiatives still being finalized, we felt it was important to provide a public update of our recent activities, offer forward-looking guidance for the coming months, and reflect on our Company’s mission and accomplishments throughout this past year.
In Xeriant’s second year of trading as a public company, our team worked tirelessly to create and execute a plan for building sustainable long-term shareholder value. We established a clear strategy, forged strong industry relationships, prioritized highly significant opportunities, and often fought well above our weight class.
One of Xeriant’s primary goals was planning and executing the Company’s three-pillar approach to become a leader in the emerging AAM aviation segment, bringing together the Aircraft, Technology, and Infrastructure components to enable its deployment and integration. We established a joint venture with XTI Aircraft, a leading cleantech aircraft OEM, to further the development of their hybrid-electric TriFan 600 VTOL airplane, and are pleased to report that the preliminary aircraft design phase is ahead of schedule. XTI Aircraft anticipates at least 100 additional sale reservations, increasing their total number of preorders to over 300, representing almost $2 billion in prospective revenue.
Xeriant is also in the process of finalizing an agreement related to the commercialization of Movychem’s Retacell product, a breakthrough non-toxic flame retardant poised to disrupt the aerospace, automotive, and construction industries.
Further, for the past several months, we have been in discussions with legacy revenue-producing aerospace companies that could provide the facilities, logistics expertise, sales network and other operational support infrastructure components required for the proliferation of AAM.
On a corporate level, we uplisted the Company to the OTCQB market, signed Maxim Group LLC to be the Company’s financial advisor, and closed an institutional financing round of $6MM.
We believe the accomplishment of these milestones and the advancement of our strategic initiatives are setting a solid foundation for growth, stability, and success and look forward to an exciting and prosperous 2022.
Our entire team at Xeriant would like to wish our shareholders and business partners a joyous, safe, and healthy holiday season and Happy New Year!
Keith Duffy
CEO
About Xeriant, Inc.
Xeriant, Inc. (d.b.a. Xeriant Aerospace) is an aerospace company dedicated to the emerging aviation market called Advanced Air Mobility (AAM), the transition to eco-friendly on-demand flight, and is partnering with and acquiring strategic interests in visionary companies that accelerate this mission. Xeriant is focused on the development and deployment of next-generation electrically powered aircraft capable of vertical takeoff and landing (VTOL), breakthrough technologies and advanced materials which can be successfully integrated and commercialized, and the critical infrastructure components needed to support operations. 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 visit 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 that 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.:
IR@xeriant.com
www.xeriant.com
