CEA Industries Inc. Warrant - CEADW STOCK NEWS

CEA Industries Inc. (NASDAQ: CEAD, CEADW) has announced a new contract signed by its subsidiary, Surna Cultivation Technologies, with a client of partner Merida Capital Holdings. This contract adds to Surna's backlog, which totals $9.7 million as of August 11, 2022. Surna will provide HVAC systems including EnviroPro air handlers and dehumidifiers for this Connecticut-based client. The CEO expressed optimism about advancing the partnership with Merida, highlighting successful past engagements.

Surna Cultivation Technologies has announced its participation in several upcoming indoor agriculture conferences. The events include the Lucky Leaf Expo in Albuquerque, NM on October 21-22, CEA Summit East on October 25-26 in Danville, VA, and the Resilient Harvests Conference in San Diego, CA on November 1-2. They will also exhibit at the MJBiz Conference in Las Vegas, NV from November 16-18.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced the adjournment of its 2022 annual meeting of stockholders to October 6, 2022, due to insufficient quorum on August 29. As of now, 44.512% of eligible shares had been voted, with 41.418% in favor of the adjournment. The Company encourages shareholders, especially those holding through brokerages, to vote their shares to ensure participation. Key proposals include the election of five director nominees and the selection of Sadler, Gibb & Associates as the independent auditors for the fiscal year ending December 31, 2022.

Surna Cultivation Technologies, a subsidiary of CEA Industries (NASDAQ: CEAD), is set to participate in several key trade conferences in August and September 2022. These include the Cannabis Conference in Las Vegas from August 23-25, CannaCon in Chicago on August 27-28, and the Benzinga Cannabis Capital Conference on September 13-14. These events aim to enhance industry knowledge and facilitate networking opportunities for cultivators and investors.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) reported a revenue of $3.0 million for Q2 2022, down 33% year-over-year, attributed to supply chain issues. Despite a 73% increase from Q1 2022, gross profit fell to $306,000 with a gross margin of 10.2%, down from 28.4% in Q2 2021. The company incurred a net loss of $1.8 million compared to a profit in the previous year. However, net bookings rose 67% to $1.5 million, and backlog increased 21% to $9.7 million. Management remains optimistic about growth initiatives and has a backlog of $10 million expected in the next 18 months.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) will host a conference call on August 11, 2022, at 4:15 p.m. ET to discuss its second-quarter results ending June 30, 2022. The call will be led by company management, followed by a Q&A session. Interested parties can submit questions via email or listen to a replay available for two weeks post-call on the company’s website beginning August 12, 2022. CEA Industries focuses on controlled environment agriculture systems, targeting growth through strategic partnerships and acquisitions.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced a strategic agreement with Merida Capital Holdings to become the sole provider of products and services for Merida's indoor cultivation facilities. This partnership builds on existing collaboration through Surna Cultivation Technologies LLC, enhancing Surna's offerings of engineering services, HVACD equipment, and facility design. Merida's investment in CEA Industries reflects confidence in their capabilities to create efficient cultivation environments, aiming for growth in the cannabis sector.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced a $1.2 million initial contract with Greene Brothers Farm for a multi-phase project in California. The project will develop a 26-acre indoor cannabis cultivation site, expected to generate approx. $10 million in revenue over 2-3 years. The first phase includes mechanical engineering services and is projected to be operational by Q4 2022. The Cannabis Park aims to create jobs and enhance community development. Phases 2 and 3 are targeted for completion in 2023, with further phases in 2024.