other material
confidence high
sentiment positive
materiality 0.85
Xeriant enters JV with Movychem to commercialize Retacell fire retardant; contributes $2.6M
XERIANT, INC.
- 50/50 JV Ebenberg LLC will develop and market Retacell polymer-gel fire retardant globally.
- Xeriant contributes $600K over 24 months plus $2M within 6 months or upon $3M financing.
- Movychem transfers Retacell IP; JV grants exclusive worldwide license until patent assignment.
- Xeriant issued five-year warrants for 170M shares at $0.01 per share to Movychem affiliates.
- Services agreement entitles Xeriant to 40% of royalty payments from Retacell licensees.