Xeriant Moving Forward on XTI Merger Agreement

Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “The Company”), an aerospace company dedicated to Advanced Air Mobility, affirms it is working to complete a definitive merger agreement with XTI Aircraft Company, a cleantech OEM and developer of a leading hybrid-electric VTOL aircraft, the TriFan 600. The Company’s previously announced Letter of Intent provided for the two parties to enter into the definitive merger agreement with a target date of October 22, 2021.

“We are making progress with our merger agreement and moving forward with completing the documentation as soon as practicable,” stated Keith Duffy, CEO of Xeriant.

Maxim Group LLC was retained as Xeriant’s financial advisor to assist in the transaction.