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 exciting transition to eco-friendly on-demand flight, announced today that effective immediately its common stock is uplisted to the OTCQB Venture Market. The approval from OTC Markets Group comes just one year after Xeriant was approved by FINRA for its name and symbol change. Xeriant’s stock symbol will remain XERI on the OTCQB.
“We are proud of our progress over the past year as a public company, systematically working to bring together the next generation aircraft and the critical support infrastructure to become a major player in AAM. The uplist to OTCQB is an important step that will enhance Xeriant’s visibility in the public markets and contribute to broadening our shareholder base,” stated Keith Duffy, CEO of Xeriant. The Company recently announced its joint venture with XTI Aircraft to develop XTI’s revolutionary hybrid-electric fixed-wing TriFan 600, the fastest and longest-range vertical takeoff and landing aircraft in the world. Preorders for the aircraft currently exceed $1.3 Billion.
The OTCQB Venture Market, operated by OTC Markets Group Inc. based in New York City, is the mid-level OTC market designed for entrepreneurial and development stage U.S. and international companies looking to provide investors greater transparency and trading liquidity. To be eligible for quotation on the OTCQB, companies must be current in their financial reporting and undergo an annual verification and management certification process, as well as meet a minimum bid price and other financial conditions. With the enhanced compliance and higher quality standards, the OTCQB is intended to give investors improved protections, along with more comprehensive information for making trading decisions. The OTCQB is recognized by the Securities and Exchange Commission (SEC) as an established public market providing data that investors need to analyze, value and trade securities.
Xeriant, Inc. (d.b.a. Xeriant Aerospace) is an aerospace company dedicated to the new emerging aviation market called Advanced Air Mobility (AAM), the transition to eco-friendly, on demand flight. Xeriant is focused on the acquisition, development, and proliferation of next generation electrically powered aircraft with vertical takeoff and landing (eVTOL) capabilities, performance enhancing aerospace technologies including advanced materials, and critical support infrastructure. Xeriant is partnering with visionary companies that accelerate this mission, including developing, integrating and commercializing breakthrough technologies that enhance performance, increase safety, and improve efficiency in AAM. Many of the sustainable advanced materials have uses that impact multiple global industries beyond aerospace. The Company is currently pursuing near-term cash flow opportunities with green fire protectant and nano-lubricant technologies which are in the process of being tested by major national and international companies. 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 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.