CEA Industries Inc. Signs Letter of Engagement with Merida Capital Holdings
June 29 2022 - 9:15AM
CEA Industries Inc. (NASDAQ: CEAD, CEADW), a leader in controlled
environment agriculture (CEA) systems engineering and technologies,
today announced it has entered into an agreement with Merida
Capital Holdings in which Merida agrees to use the Company as its
sole provider of certain products and services for Merida’s indoor
cultivation facilities.
“Our subsidiary, Surna Cultivation Technologies
LLC, has been and is working with Merida on several projects, and
we are excited to formalize and extend our relationship for future
opportunities,” stated Tony McDonald, Chairman and CEO of CEA
Industries Inc.
Surna’s products and services include but are
not limited to full-service licensed architectural and mechanical,
electrical, and plumbing (MEP) engineering services, carefully
curated HVACD equipment, proprietary controls systems, air
sanitization, lighting, and benching and racking products. Surna’s
team of project managers, licensed professional architects and
engineers, technology and horticulture specialists and systems
integrations experts help customers by precisely designing for the
customer’s unique applications. Through its partnership with a
certified service contractor network, Surna provides installation
and maintenance services to assist in a smooth build-out and
optimal facility performance.
“We are impressed with the results we have
achieved with the products and services CEA Industries has provided
in areas of development, design and provisioning of the cultivation
facilities in which we invest,” said Mitchell Baruchowitz, Founder
and Managing Partner of Merida Capital Holdings. “Following our
investment in CEA Industries in early 2022, we are excited to
deepen our partnership and tap their extensive experience as
designers and engineers to help us build the most efficient and
profitable cultivation facilities possible.”
About CEA Industries Inc.CEA
Industries Inc. (www.ceaindustries.com), is home to industry
leaders in controlled environment agriculture, with complementary
and adjacent companies added to its portfolio when aligned with the
company’s growth initiatives. As the global environment for indoor
cultivation continues to grow, CEA Industries was formed to embrace
companies that support these ecosystems.
Headquartered 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 pursuit of companies
that bring accretive value to its customers and investors.
About Merida Capital
Holdings.Merida Capital Holdings
(www.meridacap.com) is a private equity firm targeting fundamental
growth drivers underpinning the responsible development of the
cannabis industry. Merida’s investment emphasis focuses on
cultivation technologies, products and services associated with the
evolution of cannabis as an agricultural product, a natural
plant-based medicine, a constituent in pharmaceutical formulations,
and a recreational consumer product.
Merida seeks to accelerate proven operating
models and supercharge growth of its portfolio by enhancing its
commercial pipeline. By identifying essential providers with strong
management teams, they can anticipate where enterprise-level or
large industrial providers in related non-cannabis fields will look
to find growth in their core businesses through acquisition or
investment.
Safe Harbor StatementThis press
release contains statements of a forward-looking nature relating to
future events. These forward-looking statements are subject to the
inherent uncertainties 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 “Risk Factors” set forth in our annual and
quarterly reports filed with the Securities and Exchange Commission
(“SEC”), and subsequent filings with the SEC. Please refer to our
SEC filings for a more detailed discussion of the risks and
uncertainties associated with our business, including but not
limited to the risks and uncertainties associated with our business
prospects and the prospects of our existing and prospective
customers; the inherent uncertainty of product development;
regulatory, legislative and judicial developments, especially those
related to changes in, and the enforcement of, cannabis laws;
increasing competitive pressures in our industry; and relationships
with our customers and suppliers. Except as required by the 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 CEA
Industries Inc.’s website has been provided as a
convenience, and the information contained on such website is not
incorporated by reference into this press release.
Media Contact:Jamie EnglishVice President,
Marketing Communicationsjamie.english@surna.com303.993.5271
Investor Contact:Sean Mansouri, CFAElevate
IRinfo@ceaindustries.com
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