Surna Acquires Cannabis IP Holding Company Safari Resource Group; Zynga Co-Founder Tom Bollich Appointed Director & CEO
Surna Inc. (USOTC:SRNA)
Historical Stock Chart
5 Years : From Jun 2014 to Jun 2019
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
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.
At the Company
Director and General Counsel