Move follows JV with creator of world’s longest range eVTOL
BOCA RATON, Fla., Aug 03, 2021 (GLOBE NEWSWIRE) – Xeriant, Inc. (OTCQB: XERI), (“Xeriant” or “the Company”), an aerospace company focused on Advanced Air Mobility (AAM), The Transition exciting towards environmentally friendly on-demand flight, announced today that effective today, its common stock is listed on the OTCQB Venture Market. OTC Markets Group approval comes just one year after Xeriant was approved by FINRA for its name and symbol change. Xeriant’s ticker symbol will remain XERI on the OTCQB.
“We are proud of our progress over the past year as a public company, working systematically to bring together next generation aircraft and critical support infrastructure to become a major player in AAM. The move to OTCQB is an important step that will improve Xeriant’s visibility in public markets and help expand our shareholder base, ”said Keith Duffy, CEO of Xeriant. The company recently announced its joint venture with XTI Aircraft to develop XTI’s revolutionary TriFan 600 hybrid-electric fixed-wing aircraft, the world’s fastest and longest vertical take-off and landing aircraft. Pre-orders for the aircraft currently exceed $ 1.3 billion.
The OTCQB Venture Market, operated by New York-based OTC Markets Group Inc., is the mid-tier OTC marketplace designed for US and international companies in the entrepreneurial and development stage looking to provide investors with greater transparency. and greater trading liquidity. To be eligible for a listing on the OTCQB, companies must be current in their financial reports and undergo an annual management audit and certification process, as well as meet a minimum bid price and other financial terms. With improved compliance and higher quality standards, the OTCQB is intended to provide investors with enhanced protections, as well as more comprehensive information to make business decisions. The OTCQB is recognized by the Securities and Exchange Commission (SEC) as an established public market providing data investors need to analyze, value and trade securities.
Xeriant, Inc. (dba Xeriant Aerospace) is an aerospace company dedicated to the new emerging aviation market called Advanced Air Mobility (AAM), the transition to environmentally friendly on-demand flights. Xeriant focuses on the acquisition, development and proliferation of next-generation electric aircraft with vertical take-off and landing (eVTOL) capabilities, performance-enhancing aerospace technologies, including advanced materials and infrastructure critical support. Xeriant partners with visionary companies that accelerate this mission, including developing, integrating and commercializing leading-edge technologies that improve performance, increase safety, and improve the efficiency of AAM. Many sustainable advanced materials have uses that impact several global industries beyond aerospace. The Company is currently seeking short-term cash flow opportunities with green fire protection and nano-lubricant technologies which are being tested by large national and international companies. Xeriant is located in the Florida Atlantic University Research Park in Boca Raton, Florida, adjacent to the Boca Raton Airport.
For more information, please visit www.xerant.com.
SAFE HARBOR FORWARD-LOOKING STATEMENTS
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Xeriant, Inc. hereby provides cautionary statements identifying material factors that could cause our actual results to differ materially from those. projected in forward-looking statements (as defined in such deed). All statements that are not historical fact and that express or involve discussions regarding expectations, beliefs, plans, goals, assumptions or future events or performance (often, but not always, indicated by use words or expressions such as “will be a probable result”, “should”, “will continue”, “is planned”, “estimated”, “intends”, “foresees”, “believes” and “desires”. projects ”) may be forward-looking and may involve estimates and uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements. These statements include, without limitation, our expectations regarding our ability to attract investors.
We caution that the factors described in this document 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 such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we assume no obligation to update a 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 unforeseen events or circumstances. New factors emerge from time to time, and it is impossible for us to predict all of them. In addition, we cannot assess the impact of each of these factors 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 the results. forward-looking statements.