XTI Aircraft Company (XTI) announced that it has received the Notice of Allowance from the Canadian Commissioner of Patents that XTI's utility patent is being granted by Canada for the technology and configuration of the company's TriFan 600 vertical takeoff airplane.

"This follows the two patents issued by the China and Japan patent offices in 2019," said Robert LaBelle, Chief Executive Officer of XTI. "This most recent patent from Canada combined with the rest of the company's patent portfolio provide significant protection for our unique aircraft in the global market," said LaBelle.

"Flight tests on our two-thirds scale prototype remain on hold during the COVID-19 crisis," said LaBelle. "Our financing activities and our collaboration with GE Aviation are continuing."

The company previously announced that it has received 81 orders for the airplane, representing over a half billion dollars in gross revenues upon delivery, and that it is currently planning to enter into arrangements with one or more "Alternative Trading Systems" or secondary markets for all XTI shareholders to have the opportunity to offer their shares for sale on a secondary market. This will create liquidity for investors and allow them to buy and sell shares of XTI.

The shares won't become tradeable until XTI closes its crowdfunding campaign. XTI will announce the date if and when trading on a secondary trading platform becomes available. "XTI will continue to sell shares for $1.50 on StartEngine until the offering closes," LaBelle added.

"Our offering on the StartEngine platform has provided and continues to provide a rare opportunity for unaccredited and accredited investors around the world to own a piece of the future of flight," LaBelle said. "The TriFan 600 vertical takeoff airplane will transform air travel forever."

The TriFan is a major breakthrough in aviation and air travel. The six-seat TriFan 600 will have the speed, range and comfort of a luxury business aircraft and the ability to take off and land vertically, like a helicopter. It will travel at 345 miles an hour, with a range of up to 1,200 miles. Using three ducted fans, the TriFan lifts off vertically. Its two wing fans then rotate forward for a seamless transition to cruise speed and its initial climb. It will reach 30,000 feet in just ten minutes and cruise to the destination as a highly efficient business aircraft.

"The market continues to recognize the value proposition of our unique and revolutionary airplane and its patented technology," said LaBelle. "Vertical takeoff combined with long-range, the speed and comfort of a business aircraft, and our quieter and cleaner state-of-the-art hybrid-electric propulsion system."

Shares in XTI may be purchased at https://www.startengine.com/xti-aircraft, providing a unique opportunity for the general public to invest in an aerospace company with a game-changing product, a world-class leadership team, and what the company believes presents significant growth potential. Potential investors should read the Offering Circular before investing.

Simultaneously with the equity crowdfunding financing, accredited investors may participate in XTI's $25 million Series B round. Accredited investors seeking more information should contact Mr. LaBelle.