BOCA RATON, Fla., July 25, 2023 (GLOBE NEWSWIRE) — Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “the Company”), a Company dedicated to the discovery, development, and commercialization of aerospace technologies and advanced materials, today provides an update regarding initiatives toward industrial-scale manufacturing of its patent-pending NEXBOARD™ green building material. The Company has begun to implement its production strategy by making investments in equipment and input components, performing testing on pilot production samples, refining the composite mix of input materials, and furthering industry relationships.

Since last week’s announcement, Xeriant has made the following important progress:

• Provided funding for deposit on proprietary, custom-made production equipment needed to launch manufacturing operations and meet expectations and timelines of major homebuilders
• Advanced payment for engineering and design services to enable the manufacturing of NEXBOARD panels in standard dimensions as a substitute for drywall or plywood
• Conducted internal testing and found NEXBOARD pilot production samples performed well with flame burn-through and spread, and determined composite mix adjustments to improve fastener pull-through resistance
• Refined processing of base materials to ensure NEXBOARD pilot production samples meet the required properties and mechanical performance set by major homebuilders
• Scheduled second pilot production run for the coming week with the aforementioned adjustments to the composite mix
• Apprised major homebuilders on recent accomplishments toward scaling up production of NEXBOARD, and received very positive responses
• Established relationships with suppliers of various high-strength, sustainable fiber-reinforcing materials which will be used to improve the tensile properties of NEXBOARD for use in support and framing applications in construction

“We are pleased with the steps we have taken to move NEXBOARD’s manufacturing forward,” stated Keith Duffy, CEO of Xeriant. “Over the next two weeks we plan to supply sample boards to the leading homebuilders we have already been working with for their testing to close on long-term supply agreements.”

About Xeriant, Inc.

Xeriant, Inc. is a company dedicated to the discovery, development and commercialization of emerging aerospace technologies, including next generation air and spacecraft, and advanced eco-friendly materials which can be successfully integrated and commercialized for deployment across multiple industry sectors. We seek to partner with and acquire strategic interests in visionary companies that accelerate this mission. 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 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.
(561) 491-9595
IR@xeriant.com
Xeriant.com

Source Globe Newswire