Surna Acquires Cannabis IP Holding Company Safari Resource Group; Zynga Co-Founder Tom Bollich Appointed Director & CEO
March 28 2014 - 8:00AM
Marketwired
Surna Acquires Cannabis IP Holding Company Safari Resource Group;
Zynga Co-Founder Tom Bollich Appointed Director & CEO
BOULDER, CO--(Marketwired - Mar 28, 2014) - Surna Inc. (OTCQB:
SRNA), a company focused on the acquisition of cannabis industry
related intellectual property, disruptive technologies, assets and
scalable operating companies, today announced it has closed a
merger with Safari Resource Group, Inc.
In conjunction with the transaction, Tom Bollich, visionary
technologist and co-founder of San Francisco-based gaming company
Zynga, has joined Surna as chief executive officer and a member of
the Board of Directors. Additionally, the Company has appointed two
other senior executives, Doug McKinnon and Tae Darnell, to its
Board.
In merging with Safari, Surna acquires a patented "Airstream"
reflector and right, title and interest to 14 intellectual property
patents currently in development and expected to be ready for
market soon. The Company believes the IP portfolio is disruptive
with near term application for next-generation commercialization in
a variety of cannabis indoor climate control and related systems.
With excellent suitability to other indoor agriculture markets, the
existing intellectual property and future development present an
opportunity to capitalize on existing infrastructure weaknesses in
a manner that both streamlines the existing process and optimizes
existing technologies. The IP portfolio was developed by Stephen
and Brandy Keen, renowned Boulder, Colorado-based innovators in the
technology market for the cannabis grow industry.
New Senior Executive Board and Management
- Tom Bollich began his career as a Robotics Engineer, working
with artificial intelligence. In 2007 he co-founded Zynga, the
online gaming company. Zynga created games such as FarmVille, Draw
Something and Words with Friends. While at Zynga, Tom served as a
Studio Head and CTO. After leaving Zynga in 2009 he created
HugeMonster Inc., a Toronto-based game company and currently sits
on the Board of Directors as the Chairman. Tom is also on the Board
of Directors for Fatty Crew, LLC, owners and operators of the
multinational Fatty brand restaurants.
- Doug McKinnon, whose 30 years' professional experience includes
C-level positions in both private and public sectors, including
Chairman and CEO of an American Stock Exchange traded company, Vice
President of a $12 billion market cap NASDAQ-traded company for
which management raised over $2.2 billion, and CFO of several
publicly held US, Canadian and Australian companies.
- Tae Darnell, one of Colorado's first full time Cannabis
lawyers. His firm has represented over 500 dispensaries,
cultivation premises and infused product manufacturing companies in
addition to playing a pivotal role in Colorado's rise from
operating under a Constitutional Amendment to outright regulated
legalization.
Surna has changed the address and phone of its corporate offices
to: 1780 55th St. Suite C Boulder, CO 80301 (303) 993-5271
Terms of the transaction are detailed in the report filed today
with the SEC on form 8-K. As CEO, Mr. Bollich succeeds Robert
Clarke, who is to remain with the Company as CFO until such time as
the Form 10-K for the year ended December 31, 2013 is filed with
the SEC. In conjunction with the transaction, Robert Grinberg,
and Charlie Rodriguez have resigned as Directors.
About Surna Inc. Led by Tom Bollich, the visionary technologist
who co-founded famed gaming company Zynga which ultimately rose to
a $10 billion market valuation, Surna's mission is to acquire
intellectual property and operating companies in the nascent, legal
marijuana industry with a focus on disruptive technology, equipment
and related support services.
The Company represents a pure play on explosive growth in the
cannabis industry, while being agnostic as to the escalating
proliferation of regulated, commodity cannabis growers &
sellers, winners or losers; the Company's business model excludes
the production or sale of marijuana. Industry analysts project the
highly fragmented $2.3 billion US cannabis industry will increase
over four-fold to $10.2 billion by 2018.
Safe Harbor Statement This news release contains statements that
involve expectations, plans or intentions (such as those relating
to future business or financial results, new features or services,
or management strategies) and other factors discussed from time to
time in the Company's Securities and Exchange Commission filings.
These statements are forward-looking and are subject to risks and
uncertainties, so actual results may vary materially. You can
identify these forward-looking statements by words such as "may,"
"should," "expect," "anticipate," "believe," "estimate," "intend,"
"plan" and other similar expressions. Our actual results, such as
the Company's ability to finance, complete and consolidate
acquisition of IP, assets and operating companies, could differ
materially from those anticipated in these forward-looking
statements as a result of certain factors not within the control of
the company such as a result of various factors, including future
economic, competitive, regulatory, and market conditions. The
company cautions readers not to place undue reliance on any such
forward-looking statements, which speak only as of the date made.
The company disclaims any obligation subsequently to revise any
forward-looking statements to reflect events or circumstances after
the date of such statements or to reflect the occurrence of
anticipated or unanticipated events.
Investor Relations Chuck Arnold 310-344-7073 Email Contact At
the Company Tae Darnell Director and General Counsel (303) 993-5271
Email Contact