Xeriant Provides Update on Press Conference and Business Activities

Recent positive developments and upcoming meetings push press conference into July

BOCA RATON, Fla., June 27, 2022 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or the “Company”), an aerospace company dedicated to Advanced Air Mobility and associated specialty chemicals and materials, announced today that due to recent positive events and several important upcoming meetings, management has determined that the tentatively scheduled press conference would be more valuable and informative if it were moved to mid or late July.

The press conference will update shareholders on significant developments that have been the focus of Xeriant’s efforts over the past several months. In the interim, the Company is providing a mid-year recap of its accomplishments in the joint ventures with Movychem and XTI Aircraft.

“Through our successful joint ventures, our Company continues to execute its business strategy and parallel objectives of producing near-term revenue and building long-term value for our shareholders. Our advanced chemicals and materials are currently being certified for immediate licensing or direct sales and we are actively negotiating highly lucrative agreements with industry-leading companies,” commented Xeriant CEO, Keith Duffy.

“Additionally, XTI has completed the TriFan 600’s preliminary design phase ahead of schedule and under budget, a critical step which validates the aircraft’s aerodynamic and mechanical viability and establishes the basis for the detail design and the production of a full-scale, operational prototype. When the joint venture is exchanged into equity in XTI, Xeriant’s ownership should unlock tremendous value for our shareholders,” said Duffy.

Outlined below are updates on the Company’s key areas of business activities, including those involving Movychem and XTI:

Advanced Chemicals and Materials

• Xeriant has received substantial interest in the Company’s eco-friendly flame retardant, Retacell from homebuilding and textile industry leaders. The management team has scheduled in-person meetings and demonstrations across the U.S. to advance discussions and unlock both near-term and future revenue.
• The Company completed the critical pre-certification testing of its eco-friendly Retacell flame retardant on polymer-based textiles, which are found in mattresses, carpeting, upholstery, and filtration products. Recently, the EU took steps to ban up to 12,000 toxic substances, including flame retardant chemicals, driving the demand for eco-friendly alternatives like Retacell, and several U.S. states have followed suit.
• The Company successfully developed and tested a multi-purpose, high-strength fire- and water-resistant composite panel made from a formulation of Retacell and a cardboard fiber-reinforced polymeric resin, which can be sourced from recycled materials. Samples of the panels are being presented to major homebuilders for interior and exterior construction applications, including walls, ceilings, flooring, framing, siding, roofing, and decking.