Xenous Holdings, Inc 8-K, filed Sep 18, 2023
Xenous Holdings, Inc. (XITO)
About this 8-K
Xenous Holdings, Inc filed this 8-K on September 18, 2023, reporting on events of September 16, 2023.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September, 2023
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Item 8.01 Other Events
As disclosed previously in Xenous Holdings, Inc.’s SEC filings (“Xenous”), in November 2022 and February 2023, Xenous entered into a Memorandum of Understanding with Dadvance Agarwood Alpha Sdn Bhd (“Dadvance”). Xenous is currently negotiating on the terms and conditions of the acquisition of Dadvance (the “Acquisition”). There is no guarantee that the Acquisition will occur or that all relevant approvals will be obtained.
Dadvance Agarwood Alpha Sdn Bhd, a leading supplier of premium essential oils, is thrilled to announce the successful acquisition of a substantial purchase order from Tropical Extracts Sdn Bhd (“Tropical Extracts”), their sole exclusive marketeer and distributor for the European market. This purchase order entails the procurement of 150 kilograms of our premium grade agarwood essential oil, solidifying a significant contract worth a total of $2.05 million to be fulfilled within a year.
Renowned for its exceptional quality and dedication to delivering the finest natural products, Dadvance is excited on the trust and confidence placed by Tropical Extracts towards their quality and assurance. The partnership reflects a mutual commitment to excellence and innovation within the essential oil industry and to expand the European markets.
The premium grade agarwood essential oil that Dadvance offers is meticulously sourced and crafted to meet the highest industry standards. This esteemed product is recognized for its unique aroma profile and various applications across perfumery, aromatherapy, and other luxury markets.
Dadvance is committed to sustainability and ethical sourcing practices, ensuring that the procurement of agarwood essential oil aligns with environmental responsibility and the welfare of the communities involved in its production.
Dadvance is committed to sustainability and ethical sourcing practices, ensuring that the procurement of agarwood essential oil aligns with environmental responsibility and the welfare of the communities involved in its production.
The collaboration between Dadvance and Tropical Extracts marks a significant milestone in both companies’ growth trajectories.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Date: September 18, 2023 | By: | /s/ Jonathan Chan Ye Earn |
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| Jonathan Chan Ye Earn |
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| Chief Executive Officer |
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| (Principal Executive Officer) |
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