Indus Holdings Inc logo

INDS - Indus Holdings Inc News Story

C$1.83 -0.3  -13.3%

Last Trade - 04/03/21

Small Cap
Market Cap £71.9m
Enterprise Value £92.6m
Revenue £31.1m
Position in Universe 801st / 2707

Indus Holdings, Inc. Announces New Chief Financial Officer

Mon 9th November, 2020 11:48pm
For best results when printing this announcement, please click on link below:

Board Member Brian Shure will join executive team as Chief Financial Officer
Steve Neil will remain at the Company in a senior capacity

SALINAS, Calif., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Indus Holdings, Inc. (CSE:
INDS; OTCQX: INDXF), a leading, vertically-integrated cannabis company (the
“Company”), with capabilities in cultivation, extraction and
manufacturing, brand sales, marketing and distribution, is pleased to announce
that Brian Shure has been appointed as Chief Financial Officer.

In anticipation of upcoming needs, the Company announces that Brian Shure,
currently a Board member and Chairman of its Audit Committee, has accepted his
appointment as Chief Financial Officer effective today. Steve Neil will remain
with the company in a senior capacity and will focus his efforts on preparing
the company for a potential US registration and other important initiatives in
addition to supporting the incoming CFO in his transition.

In addition to serving on the Indus Board, Mr. Shure was most recently
responsible for running Ambrose Capital Partners, an investment management
firm directing public and private investments where he has served as President
since 2008. He has served as Chief Financial Officer of MedData, a revenue
cycle management company in the healthcare industry, where he oversaw
significant organic and M&A growth. Mr. Shure joined MedData following the
company’s acquisition of Cardon Outreach, where he led finance and M&A
strategy as Chief Financial Officer, growing EBITDA from less than US$1
million to more than US$30 million.

An experienced and disciplined financial manager with more than 20 years of
thought leadership as a portfolio manager and business operations executive,
Mr. Shure will apply his veteran talent to the Company’s growing market
position in a rapidly changing and highly regulated industry and by providing
meaningful executive depth as the Company pursues and integrates growth
acquisition targets in the next year.

“We remain committed to our path to profitability and leadership through
scale. Brian’s experience will be extremely additive to the team,” said
George Allen, Chairman of the Indus Board. “Steve’s contributions to the
team are enormous and we are grateful to have him turn his focus to some
important initiatives for the Company and its shareholders.”

Indus Holdings, Inc. (CSE: INDS; OTCQX: INDXF) is a vertically-integrated
cannabis company with advanced production capabilities, including cultivation,
extraction, manufacturing, brand sales & marketing, and distribution. Founded
in 2014 and based in Salinas, California, Indus offers services supporting
every step of the supply chain and an extensive portfolio of award-winning
brands, including Cypress Cannabis, House Weed, The Original Pot Co., MOON,
Humble Flower, and Kaizen Medicinals. Indus Distribution, a division of Indus
Holdings, Inc., is a leading distributor of cannabis products, servicing an
extensive portfolio of brands and licensed retailers.

Investor Relations Contact
Bill Mitoulas

Media Contact
Renata Follmann
Company Contact
Mark Ainsworth

Forward-Looking Information and Statements and non-IFRS Financial Measures

This press release contains certain "forward-looking information" within the
meaning of applicable Canadian securities legislation and may also contain
statements that may constitute "forward-looking statements" within the meaning
of the safe harbor provisions of the United States Private Securities
Litigation Reform Act of 1995. Such forward-looking information and
forward-looking statements are not representative of historical facts or
information or current condition, but instead represent only Indus’ beliefs
regarding future events, plans or objectives, many of which, by their nature,
are inherently uncertain and outside of Indus’ control. Generally, such
forward-looking information or forward-looking statements can be identified by
the use of forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or may contain statements that certain
actions, events or results "may", "could", "would", "might" or "will be
taken", "will continue", "will occur" or "will be achieved.” The
forward-looking information and forward-looking statements contained herein
may include, but are not limited to, the ability of the Company to
successfully achieve business objectives, including expansion of its market
share, identification, completion and integration of acquisitions and
realizing profitability, the Company becoming registered in the United States
under the United States Securities Exchange Act of 1934, and expectations for
other economic, business, and/or competitive factors. There can be no
assurance that such forward-looking information will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such forward-looking information. This forward-looking
information reflects Indus’ current beliefs and is based on information
currently available to Indus and on assumptions Indus believes are reasonable.

Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of Indus to be materially different from
those expressed or implied by such forward-looking information. Such risks and
other factors may include, but are not limited to: general business, economic,
competitive, political and social uncertainties; general capital market
conditions and market prices for securities; delay or failure to receive board
or regulatory approvals; the actual results of future operations; operating
and development costs; competition; changes in legislation or regulations
affecting Indus; the timing and availability of external financing on
acceptable terms; the available funds of Indus and the anticipated use of such
funds; delay or inability to complete an acquisition; favorable production
levels and outputs; the stability of pricing of cannabis products; the level
of demand for cannabis product; the availability of third-party service
providers and other inputs for Indus’ operations; lack of qualified, skilled
labor or loss of key individuals; and risks and delays resulting from the
COVID-19 pandemic. A description of additional assumptions used to develop
such forward-looking information and a description of additional risk factors
that may cause actual results to differ materially from forward-looking
information can be found in Indus’ disclosure documents, such as Indus’
annual information form filed on the SEDAR website at Although
Indus has attempted to identify important factors that could cause actual
results to differ materially from those contained in the forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. Readers are cautioned that the foregoing
list of factors is not exhaustive. Readers are further cautioned not to place
undue reliance on forward-looking information as there can be no assurance
that the plans, intentions or expectations upon which they are placed will
occur. Forward-looking information contained in this news release is expressly
qualified by this cautionary statement.

The forward-looking information contained in this news release represents the
expectations of Indus as of the date of this news release and, accordingly, is
subject to change after such date. Indus expressly disclaims any intention or
obligation to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as expressly
required by applicable securities law. Neither the Canadian Securities
Exchange nor its Regulation Service Provider has reviewed, or accepts
responsibility for the adequacy or accuracy of, the content of this news


GlobeNewswire, Inc. 2020
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.