urban-gro, Inc. Announces Inclusion in Russell 2000® Index and Appoints Seasoned Executives to Board of Directors
June 14 2021 - 9:05AM
urban-gro, Inc. (Nasdaq: UGRO) (“urban-gro” or the “Company”), a
leading global horticulture company that engineers and designs
commercial Controlled Environment Agriculture (“CEA”) facilities
and integrates complex environmental equipment systems, today
announced that it has been selected to be added to the Russell
2000® Index effective June 25, 2021, after the close of the U.S.
equity markets. The Russell 2000® Index measures the performance of
the small-cap segment of the US equity market. Russell indexes are
widely used by investment managers and institutional investors for
index funds and as benchmarks for active investment strategies.
Bradley Nattrass, Chief Executive Officer and
Chairman of urban-gro commented “Our team has continued to drive
execution and growth on multiple fronts. We are pleased to have
been selected for inclusion into the Russell 2000® Index and plan
to leverage this beneficial exposure and our continued execution to
drive additional shareholder value.”
In addition, urban-gro also announced that
effective June 9, 2021, Anita Britt, CPA, and David Hsu have been
appointed to the Company’s Board of Directors and Lance Galey has
resigned from the Board.
“As we thank Lance for his great insight and
guidance over the last three years, garnering the attention and
expertise of both Anita and David brings a great deal of value to
our Company. They collectively bring operational and financial
expertise, a successful track record of execution, and a deep
knowledge of the CEA space. We look forward to leveraging their
expertise as we continue to unlock the full potential of urban-gro”
concluded Mr. Nattrass.
Ms. Britt is a well-established financial
executive with more than 30 years of global business experience
leading all aspects of corporate financial management focused on
driving profitability and financial returns. She joins the
urban-gro Board of Directors, having most recently served as the
Chief Financial Officer of Perry Ellis International. During her
tenure at Perry Ellis, Ms. Britt was responsible for key business
strategies to drive return on invested capital as well as capital
markets transactions. Ms. Britt currently serves on the Board of
Directors of Smith & Wesson Brands Inc., where she chairs the
Audit Committee and is a member of the Compensation Committee. She
also serves on the Board of Delta Apparel, Inc. and is a member of
both the Audit and Governance Committees. Ms. Britt is a National
Association of Corporate Directors (NACD) Board Leadership Fellow
and holds an active license with the American Institute of
Certified Public Accountants. At urban-gro, Ms. Britt will serve as
the Chair of the Audit Committee and as a member of both the
Compensation and Governance Committees.
Mr. Hsu, a recognized leader with extensive
experience in both corporate strategy and operational execution,
most recently served as the founding Chief Operating Officer of The
Cronos Group (Nasdaq: CRON), a globally diversified and vertically
integrated cannabis company with a presence across five continents.
In addition to overseeing all operations and expansion, Mr. Hsu
also managed the design and construction of Cronos’s purpose-built
CEA and manufacturing facilities, some of the most advanced in the
world. He brings extensive high-performance controlled
environmental agriculture (CEA) expertise to urban-gro. Mr. Hsu
will serve as a member of both the Audit and Compensation
committees.
About urban-gro, Inc.
urban-gro, Inc. (Nasdaq: UGRO) is a global
engineering and design services company focused on the commercial
horticulture market. With experience in hundreds
of Controlled Environment Agriculture (CEA) facilities
spanning millions of square feet, we engineer, design and integrate
complex environmental equipment systems into high-performance
facilities.
Once operational, urban-gro’s
gro-care® Managed Services Platform leverages the company's
expertise to reduce downtime, provide continuity, and drive
facility optimization. Operating as a crop-agnostic solutions
provider in both food and cannabis CEA sectors, our crop-focused
end-to-end approach provides a single point of accountability
across all aspects of growing operations.
Visit urban-gro.com to discover how we help
cultivators gro plants and gro profits.
Safe Harbor Statement
This press release contains forward looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. When used in this release, terms such as
“believes,” “estimates,” “should,” “could,” “would,” “plans,”
“expects,” “intends,” “anticipates,” “may,” “forecasts,” “projects”
and similar expressions and variations as they relate to the
Company, or its management are intended to identify forward-looking
statements. Such forward-looking statements are based on current
expectations, forecasts, and assumptions that involve risks and
uncertainties that could cause actual outcomes and results to
differ materially from those anticipated or expected, including
statements related to the demand for our services and products, our
ability to manage the adverse effect brought on by the COVID-19
pandemic, our ability to execute on our strategic plans, our
ability to achieve positive cash flows or profitability, our
ability to achieve and maintain cost savings, the sufficiency of
our liquidity and capital resources, and our ability to achieve our
key initiatives for 2021. A more detailed description of these and
certain other factors that could affect actual results is included
in the Company’s filings with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. The Company undertakes no obligation to update any
forward-looking statements to reflect events or circumstances after
the date hereof, except as may be required by law.
urban-gro Investor Relations
Contact:
Jenene ThomasChief Executive OfficerJTC Team,
LLCT: 833.475.8247 investors@urban-gro.com
Media Contact:
Stan WagnerManaging DirectorMaverick Public Relations T:
303.618.5080stan@themaverickpr.com
Urban Gro (NASDAQ:UGRO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Urban Gro (NASDAQ:UGRO)
Historical Stock Chart
From Apr 2023 to Apr 2024