Louisville, Colo., Aug. 30, 2022 (GLOBE NEWSWIRE) — CEA Industries Inc. (“Company”), (CEAD, CEADW), a leader in Controlled Environment Agriculture (CEA) systems technology and engineering, today announced that its annual meeting of shareholders of 2022 has been adjourned to October 6, 2022 at 1:00 PM Mountain Time. The adjournment was due to a lack of quorum for the meeting scheduled for August 29e. The record date for the adjourned meeting will continue to be July 8, 2022.
Tony McDonald, Chairman and Chief Executive Officer of CEA Industries, noted that the Company had received proxies for 3,540,460 outstanding common shares for 44.512% of the shares eligible to vote at the meeting. For the approval of the adjournment, the Company had received 3,294,406 or 41.418% of the voting shares eligible to vote at the meeting in favor of an adjournment, should it be necessary. As the votes were generally in favor of electing the slate of nominee directors and ratifying the current accounting firm to continue as independent auditors, as set out in the proxy statement dated July 20 2022, the Company has adjourned the annual meeting to continue soliciting votes on these proposals.
The Company’s Board of Directors continues to recommend a vote in favor of the proposals set forth in the Proxy Circular for the reasons described therein, including (i) the election of the five directors named in the Proxy Circular proxies to serve on the Board of Directors for a term of one year or until their respective successors are duly elected and qualified, (ii) ratification of the selection of Sadler, Gibb & Associates, LLC as independent registered public accounting firm of the Company for the year ended December 31, 2022, and (iii) approval of any adjournment of the annual meeting, if necessary or appropriate, to permit the solicitation of additional proxies for hold the meeting and approve the above proposals.
Tony McDonald added: “To all of our shareholders, your vote is important. For shareholders who hold their shares through brokerage accounts, several brokerage firms will not exercise their authorized discretion with respect to our proxy request, so it is essential that you exercise your vote so that they act on your behalf. To vote, please contact our attorney, Advantage Proxy, Inc., toll-free at 1-877-870-8565.
Mr. McDonald continued: “Shareholders who voted for their shares have nothing else to do. These shares will continue to be voted for the adjourned meeting, unless changes are made in the affirmative or their vote is withdrawn.
About CEA Industries Inc.
CEA Industries Inc. (www.ceaindustries.com), is home to industry leaders in controlled environment agriculture, with complementary and adjacent businesses added to its portfolio as they align with corporate growth initiatives. As the global indoor growing environment continues to grow, CEA Industries was created to welcome companies that support these ecosystems.
Based in Louisville, Colorado, CEA Industries knows that growth is a team sport. Through future partnerships and mergers and acquisitions, both financial and strategic, CEA Industries will continue its search for companies that bring accretive value to its customers and investors.
Safe Harbor Statement
This press release contains forward-looking statements relating to future events.. Fforward-looking statements are subject to the uncertainties inherent in predicting future results and conditions. These statements reflect our current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release, including the factors set forth in the “Risk Factors” section in our reports. annual and quarterly filings with the Securities Corporation. and Exchange Commission (“SEC”) and subsequent filings with the SEC. Please refer to our filings with the SEC for a more detailed discussion of the risks and uncertainties associated with our business, including, but not limited to, risks and uncertainties associated with our business prospects and the prospects of our existing customers. and potentials; the uncertainty inherent in product development; regulatory, legislative and judicial developments, particularly those related to changes in and enforcement of cannabis laws; increasing competitive pressures in our industry; and relationships with our customers and suppliers. Except as required by federal securities laws, we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to The CEA Industries Inc. website has been provided as a convenience, and information contained on this website is not incorporated by reference into this press release.
Vice President, Marketing Communications
Sean Mansouri, CFA