SIGNS LOI TO ACQUIRE INTEREST IN STRATEGIC ALLIANCE PARTNER
BOCA RATON, Fla., Dec. 30, 2020 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTC PINK: XERI), a new aerospace technology holding company, announced today that it has signed a letter of intent to acquire a significant interest in Xeriant Europe s.r.o. (“XE”), its strategic alliance partner located in Prague, Czech Republic. The share exchange transaction will enable Xeriant to participate in XE’s business opportunities and technologies with the purpose of generating revenue within the next 180 days, along with long-term capital appreciation.
“Xeriant’s strategy of blending current income into our portfolio of technologies allows for a more balanced growth plan. Our main focus in this relationship was sourcing breakthrough products in the Czech Republic so that Xeriant can hold financial interests with high-income potential,” stated Xeriant CEO, Keith Duffy.
Xeriant has been involved with XE over the past year with the planned objective of jointly establishing relationships with Czech companies that are developing aerospace-related technologies. Most have products that are already commercially viable but require funding to scale up production. Others are in the final development stage and need additional capital for their completion, testing and certification. XE has obtained exclusive marketing and intellectual property rights for these technologies within the U.S., North America or even worldwide. XE also has extensive ties to academic institutions in the Czech Republic and throughout Europe.
A number of the novel XE technologies relate to eco-friendly advanced materials, such as nanofilm lubricants, fire retardants, specialized protective coatings, stealth metamaterials, adsorbents and high energy density batteries for electrification. XE has secured serious interest in these sustainable products from prospective customers across the globe within and beyond the aerospace industry, from the defense, automotive, maritime, construction, agriculture, manufacturing, mining and energy sectors.
“We have worked closely with Xeriant on identifying disruptive technologies which we believe will have significant commercial appeal in the United States. Our focus has been identifying well-established Czech companies that are ready to launch proven products. They often need access to funding to expand into new markets, especially the U.S.,” commented XE’s President, Henry Biza.
Approximately a year ago, the management of both companies met and agreed upon mutual cooperation and the strategy to eventually bring income opportunities into Xeriant, Inc. When the new Xeriant name was announced, the European company changed its company name to Xeriant Europe. The company currently holds a number of exclusive licensing agreements and joint venture relationships. Xeriant Europe owns the XERI brand of environmentally safe lubricant products.
The Czech Republic has a long history as an innovation hub in Central Europe, especially for the aviation industry, dating back to the early 1900’s. Since joining the European Space Agency (ESA) in 2008, the Czech Republic also become increasingly involved with space activities. The National Space Plan for 2020-2025 represents the Czech Republic’s strategy to further develop space related technologies in industry and academia and to play a more active and visible role within the international community in space and related areas. The European Union Agency for the Space Program (EUSPA) will be based in the Czech capital city of Prague effective January 2021.
Xeriant, Inc. (d.b.a. Xeriant Aerospace) is a holding and operating company focused on acquiring, developing, and commercializing revolutionary, eco-friendly technologies with applications in aerospace, including innovative aircraft concepts targeting emerging opportunities within the aviation industry. In 2019, Xeriant acquired a unique, scalable, multi-purpose VTOL aerial platform called Halo, which is protected under a broad utility patent. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport. The Company is an OTC Markets public company trading under the stock symbol, XERI.
For further information, please visit www.xeriant.com.
ABOUT XERIANT EUROPE
Xeriant Europe s.r.o., headquartered in Prague, Czech Republic, was founded with the purpose of uncovering leading-edge green technologies with applications in aerospace, primarily from the Czech Republic, and promoting them on the world market, especially in the U.S. The company’s focus is on unique products that are either already being sold or are close to commercialization.
SAFE HARBOR FORWARD-LOOKING STATEMENTS
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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 of 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.
XERIANT, INC. CORPORATE