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INDS - Indus Holdings Inc News Story

C$1.83 -0.3  -13.3%

Last Trade - 04/03/21

Small Cap
Market Cap £70.5m
Enterprise Value £90.7m
Revenue £30.5m
Position in Universe 792nd / 2712

Indus Holdings, Inc. Welcomes Bruce Gates to Board of Directors; Announces Results of Annual Shareholder Meeting

Thu 22nd October, 2020 9:18pm
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SALINAS, Calif., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Indus Holdings, Inc. (CSE:
INDS; OTCQX: INDXF), a leading, vertically-integrated cannabis company (the
“Company”), is pleased to announce that at its annual shareholder meeting
held on October 22, 2020 (the “Meeting”) shareholders voted in excess of
99% in favour of election of the Company’s nominees to the Board of
Directors and the appointment of the Company’s auditors. At the Meeting,
shareholders elected each of the incumbent directors of the Company nominated,
in addition to new Company nominee Bruce A. Gates, a veteran executive and
strategic advisor.

Mr. Gates serves as the Founder and President of Three Oaks Strategies LLC, a
Virginia-based consulting firm that advises companies and individuals on
strategic communications matters and public policy. He is also Founder and
President of Three Oaks Asset Management LLC, a family office and venture
capital firm that works to augment its financial participation with management
advice, marketing advice, and relationship-building advice.

“Bruce Gates is a seasoned executive with immense experience within complex
regulatory environments set against shifting political backdrops,” says
Indus Holdings, Inc. Chairman of the Board George Allen. “We are incredibly
fortunate to have a leader and strategist of Bruce’s caliber on our board as
we work to continue to take Indus to new heights of success.”

Mr. Gates has served as Senior Vice President of External Affairs for Altria
and briefly served as Altria’s representative on the board of Chronos Inc.
He was a founding partner of Washington, D.C. public policy advocacy firm
Washington Council, which was acquired by Ernst & Young in 2000.

“While it is still a young company, Indus has set the standard for a
vertically-integrated cannabis operation with its acclaimed brand portfolio
and commitment to being compliant in a highly regulated industry,” Mr. Gates
says. “I am very grateful for the opportunity to lend my expertise to the
board and I look forward to even greater success for Indus.”

Mr. Gates’ election comes as Indus Holdings, Inc. Co-Founder Robert Weakley
departs the Board of Directors.

“We would like to thank Robert for all his service and his immense
contributions to this Company as its co-founder. It is not easy for a founder
to leave a company that he/she started and Rob has done an exemplary job and
made every effort to make the transition as successful as possible. We are
very grateful for Robert,” Mr. Allen says.

With Mr. Gates’ election, the following individuals now serve on the Board
of Directors: George Allen (Chairman), Mark Ainsworth (Chief Executive
Officer), Stephanie Harkness, William Anton, Kevin McGrath, Brian Shure and
Bruce Gates.

In connection with the Meeting, the Company delivered a management information
circular dated September 22, 2020 to its shareholders and filed the same on
SEDAR. Prior to the filing thereof, the Company relied on the temporary
blanket relief provided by the Canadian Securities Administrators, including
the exemptive relief contained in Ontario Instrument 51-504 – Temporary
Exemptions from Certain Requirements to File or Send Securityholder Materials
of the Ontario Securities Commission, to postpone the public filing of its
executive compensation disclosure required under National Instrument 51-102
– Continuous Disclosure Obligations in respect of the Company’s financial
year ended December 31, 2019.

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 California distributor of cannabis products,
servicing an extensive portfolio of brands and licensed retailers.

 Investor Relations Contact  Media Contact              
 Bill Mitoulas               Renata Follmann            
 Indus Holdings, Inc.        Rossetti Public Relations      
 Office: 1.416.479.9547                                 

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 release.


GlobeNewswire, Inc. 2020
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