CEA Industries Inc. Announces Appointment of Two New Board Members

Rhea-AI Summary

CEA Industries Inc. (OTCQB: SRNA) recently appointed Marion Mariathasan and Troy Reisner to its Board of Directors. Mariathasan, CEO of Simplifya, brings expertise in regulatory compliance and entrepreneurship, while Reisner, CFO of Keystone Tower Systems, offers substantial experience in finance and corporate governance. These appointments are aimed at enhancing the company's strategy, profitability, and value for shareholders amidst a growing sector in controlled environment agriculture.

Positive

• Addition of Marion Mariathasan and Troy Reisner to the Board enhances strategic capabilities.
• Both appointees have extensive experience in technology, M&A, and corporate governance.

Negative

• None.

Entrepreneur Marion Mariathasan and Financial Executive Troy Reisner Bring Track Records in Technology, M&A, and Corporate Governance

Louisville, Colorado, Jan. 20, 2022 (GLOBE NEWSWIRE) -- CEA Industries Inc. (the “Company”) (OTCQB: SRNA), a leader in controlled environment agriculture (CEA) systems engineering and technologies, announced today the appointments of Marion Mariathasan, CEO and Co-Founder of Simplifya LLC, and Troy Reisner, CFO of Keystone Tower Systems, Inc. to its Board of Directors. Mr. Reisner will also serve as chair of the Audit Committee.

“We are pleased to welcome Marion and Troy as new directors.” said Tony McDonald, CEA Industries Chairman and CEO. “These appointments come at an exciting time for the company, as we continue to execute our strategy, drive profitability, and enhance value for all our shareholders. Marion and Troy bring a wealth of experience in key areas, such as industry regulatory and compliance matters, SAAS technology, M&A, partnerships, and corporate governance, and we are confident their talents, skills and perspectives will complement and enhance our board. We look forward to their contributions.”

Marion Mariathasan

Marion Mariathasan is the CEO and Co-Founder of Simplifya LLC (www.simplifya.com), the cannabis industry’s leading regulatory and operational compliance software platform. The company’s suite of products takes the guesswork out of confusing and continually changing state and local regulations. Featuring SOPs, badge tracking, document storage, tailored reporting and employee accountability features, Simplifya’s Custom Audit software reduces the time clients spend on compliance by up to 45 percent. 

Mr. Mariathasan, a Sri Lankan native and immigrant to the United States, is a serial entrepreneur who has founded or advised numerous startups. He is currently an investor in over twenty domestic and international companies that range from cannabis companies to dating apps.

Mr. Mariathasan studied Architecture and Computer Science at the University of Kansas and Computer Information Systems with a minor in Business Management from Emporia State University. He is a regular guest speaker at events such as Denver Start-Up Week, Colorado University's program on social entrepreneurship, various universities on the topic of entrepreneurship and the United Nations Global Accelerator Initiative. 

Troy Reisner

Troy Reisner is the CFO of Keystone Tower Systems, Inc. (www.keystonetowersystems.com), a technology innovation and manufacturing company that is disrupting the commercial wind tower industry by bringing automated manufacturing technology that will produce towers 10x faster than current factories with technology that can be deployed on-site. At Keystone, he leads the finance and accounting functions, including capital raising and corporate governance matters, and serves as an executive team member.

Prior to joining Keystone, Mr. Reisner was a partner with Deloitte from which he retired. He spent over 30 years advising public companies on audit, accounting, M&A and SEC reporting matters in the St. Louis, Missouri, New York, New York, and Denver, Colorado practices.

Mr. Reisner brings significant cumulative knowledge and expertise in accounting and auditing, including PCAOB auditing standards, M&A transactions, financial due diligence, financial reporting, including expertise in SEC rules, regulations & reporting, internal controls over financial reporting, and capital market and corporate governance experience and expertise.

Mr. Reisner earned a B.S. degree in Accounting from Southern Illinois University at Edwardsville and practiced as a Certified Public Accountant for over 30 years and is licensed (inactive) as a CPA in the State of Missouri.

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, doing business as Surna Cultivation Technologies, a proven leader in controlled environment agriculture, 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.

Forward Looking Statements

This press release may contain 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 website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.

Jamie English
Vice President, Marketing Communications
jamie.english@surna.com
(303) 993-5271

FAQ

Who are the new appointees to CEA Industries' board as of January 2022?

Marion Mariathasan and Troy Reisner have been appointed to CEA Industries' board.

What experience do the new board members bring to CEA Industries?

They bring significant expertise in regulatory compliance, technology, M&A, and corporate governance.

What is the stock symbol for CEA Industries?

The stock symbol for CEA Industries is SRNA.

When were the new directors appointed to CEA Industries?

Marion Mariathasan and Troy Reisner were appointed on January 20, 2022.

What roles will the new board members assume?

Troy Reisner will also serve as chair of the Audit Committee.