SaverOne To Purchase 33% Stake In Italian Aviation And Defense Tech Firm Gryphen Aircraft Industries For €5M

SaverOne 2014 Ltd. (NASDAQ: SVRE, TASE: SVRE))) today announced that it has entered a non-binding term sheet for a strategic investment in Gryphen Aircraft Industries Srl ("Gryphen"), an Italian aviation and defense technology company Developing a NATO Class-3 & US Group-5 Medium/High Altitude Long Endurance (MALE) Remotely Piloted Military Aircraft Systems (RPAS/UAV), based on existing civilian aircraft platforms. The proposed transaction represents an important step in SaverOne’s strategic expansion into the defense and security markets, following its previously announced strategic transaction with VisionWave Holdings, Inc (NASDAQ: VWAV ). Under the terms of the non-binding term sheet, SaverOne will initially invest €5.0 million in Gryphen in exchange for 33.3% of Gryphen’s fully diluted share capital, subject to due diligence, the execution of definitive agreements and customary cl...