Completion and delivery of $8.8 million U.S. government contract to demonstrate XTEND system for operational deployment with U.S. Special Operations Forces
TAMPA BAY, Fla., March 23, 2026 (Globe Newswire) — JFB Construction Holdings (Nasdaq: JFB) and XTEND, a leader in software systems and artificial intelligence-powered robotics, today announced that XTEND has successfully completed a key operational milestone for the U.S. government, demonstrating the performance of XTEND’s systems in a combat-relevant test environment and confirming that they meet government operational requirements.
XTEND’s accomplishments are highlighted by final delivery under an $8.8 million contract with the U.S. government and reflect XTEND’s readiness to scale the system for future operational deployments. In addition to delivering multiple prototype operational systems, ground control equipment, and mission payload modules, XTEND conducted New Equipment Training (NET) with special operations force operators as part of the final contract milestone. Training included live flight exercises, mission planning, system implementation, and operator mission execution. Up to 30 operators attended to showcase how XTEND technology enables seamless collaboration between humans and machines.
“We believe the success of modern conflicts depends on human operators being able to work seamlessly with autonomous systems,” said Aviv Shapira, CEO of XTEND. “This milestone demonstrates our ability to deliver scalable products that can deliver precision mission capabilities at the tactical edge, while maintaining operator safety and assured control. Our goal is to create autonomous systems that extend the reach, effectiveness, and decision-making superiority of frontline forces.”
During testing, XTEND’s systems performed consistently in government inspections, operational performance validation, and mission-related exercises designed to simulate real-world operational scenarios. Operational testing generated performance data and actionable insights that will guide future development and deployment of advanced autonomous tactical systems. Detailed analysis and reporting supports the continued evolution of XTEND’s capabilities.
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As announced on February 17, JFB Construction Holdings (NASDAQ: JFB) and XTEND have entered into a definitive agreement to merge with XTEND in an all-stock transaction. The business combination is further supported by strategic investments from Eric Trump, Unusual Machines, American Ventures, LLC, Protego Ventures, and Aliya Capital. Upon completion of the business combination, the joint venture will be renamed XTEND AI Robotics and will be listed on the U.S. National Stock Exchange as “XTND.”
About JFB Construction Holdings
JFB Construction Holdings (Nasdaq: JFB) is a real estate development and construction company providing general contracting and construction management services in 36 states. For more information, please see the company’s SEC filings at www.sec.gov.
About extend
XTEND is a leader in robotics that leverages software systems and artificial intelligence to be deployed in high-threat, complex operational environments where human exposure poses significant risk. Powered by the proprietary XTEND Operating System (XOS), XTEND’s integrated software and advanced robotic hardware solutions are designed to deliver autonomy at the edge. Operating across defense, law enforcement, and civilian security missions through a platform of robots, drones, and robotic subsystems, XTEND’s open architecture platform facilitates scalability across partners and third-party applications. With more than 10,000 systems deployed in more than 30 countries, XTEND’s solutions have been validated in five war zones and are operationally deployed by national defense, special forces, and security organizations around the world. Founded in Tel Aviv, Israel and headquartered in Tampa, Florida, XTEND provides NDAA-compliant solutions through a global network of regional XFAB manufacturing facilities in the United States, United Kingdom, Singapore, Israel, and Latvia. For more information, please visit www.xtend.me.
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This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, and may also be included in oral statements made from time to time by representatives of the Company. These forward-looking statements generally include statements regarding the utility of the XTEND product, prospects and future use cases, and a potential transaction between Xtend Reality Expansion Ltd. (“Xtend”) and JFB Construction Holdings (“JFB”). This includes statements regarding the expected impact and benefits of the potential transaction, the timing of the closing of the transaction, and the strategic initiatives of Xtend AI Robotics, Inc. (“NewCo”) following the closing of the transaction. 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These statements are not promises or guarantees and involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. Difficulties may arise in realizing the anticipated benefits of integration and transactions. Xtend and JFB may be required to use resources needed in other parts of the business to do so. There may be liabilities that are unknown, improbable or cannot be estimated at this time. The transaction may cause management’s time and attention to be focused on matters related to the transaction and integration. The anticipated synergies and operating efficiencies resulting from this transaction may not be achieved within the expected time period or at all. We may incur significant transaction and integration costs in connection with any transaction. the possibility that JFB will not have sufficient cash at termination to meet minimum cash requirements; the adverse outcome of any legal proceedings that may be brought against JFB and Extend following the announcement of the transaction; Risks inherent in the business may pose additional strategic and operational risks that may impact Xtend’s, Newco’s and JFB’s risk profile and that each company may not be able to effectively mitigate. JFB’s ability to complete construction projects and other transactions on schedule and on budget; changes in weather, the occurrence of natural disasters or pandemics; Recent government imposition of tariffs on construction materials such as steel, aluminum, and wood. Supply chain disruption. increased costs of labor and construction materials; JFB’s ability to maintain a safe work site; Extend relies on a limited number of defense and government security customers for a significant portion of its business. significant delays or reductions in broader spending, Xtend’s programs and certain government funding and programs, including as a result of long-standing resolutions and/or government shutdowns and/or in connection with the global security environment or other world events; increased competition and bid protests within JFB and Xtend’s markets; changes in procurement and other U.S. and foreign laws, including changes by executive orders, contract terms and practices applicable to our industry, the outcome of certain applicable government investigations regarding our compliance with such requirements, more aggressive enforcement of such requirements, and changes in the business practices of Extend’s customers around the world; inappropriate conduct of any employee, agent, subcontractor, supplier, business partner or joint venture in which Xtend participates, including any effect on Xtend’s reputation or ability to do business; cyber and other security threats or disruptions faced by Xtend and JFB, its customers, its suppliers and other partners, and changes in related regulations; and Xtend’s ability to innovate, develop new products and technologies, advance and benefit from digital transformation, and sustain technology to meet the needs of Xtend’s customers. In addition, a number of important factors could cause the actual future results and other future conditions of JFB, Xtend or NewCo to differ materially from those expressed in the forward-looking statements. These include, but are not limited to, the important factors described in the “Risk Factors” section of the registration statement on Form S-4 filed by JFB and NewCo. Such factors may be updated from time to time in other filings with the Securities and Exchange Commission, including Xtend’s Investor Relations Site (https://www.xtend.me/newsroom) and JFB’s Investor Relations Site (https://investors.jfbconstruction.net/) Forward-looking statements speak only as of the date on which they are made, and neither Extend nor JFB undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Important information for investors and shareholders
This communication is for informational purposes only and is not intended to and does not constitute an offer to sell, the solicitation of an offer to buy, or the solicitation of any vote or approval. Further, no securities may be issued or sold in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. No securities will be offered for sale except by means of a prospectus that meets the requirements of Article 10 of the Securities Act. In connection with the transaction, NewCo and JFB will file a registration statement on Form S-4. This includes JFB’s information statement and NewCo’s preliminary prospectus. After the registration statement is declared effective, JFB will mail shareholders a final information statement that will become part of the registration statement. This communication is not a substitute for the information statement/prospectus, registration statement or other documents that JFB files with the SEC and transmits to stockholders in connection with the transaction. XTEND and JFB investors and security holders are encouraged to read the information statement/prospectus or registration statement and other documents filed with the SEC carefully in their entirety when they become available because they contain important content. information. Investors and securityholders may obtain free copies of the information statement/prospectus (if available) and other documents filed with the SEC by JFB through the website maintained by the SEC at https://www.sec.gov. Copies of documents filed with the SEC by JFB are available free of charge on JFB’s website at https://investors.jfbconstruction.net/.
Extend contact:
headline media
sarah small
929 255 1449
sarah@headline.media
XTEND Investor Information Contact:
MZ North America
Shannon Devine
XTEND@mzgroup.us
203-741-8811
