YZi Labs and CEA Industries Reach Agreement to Resolve Governance Dispute and Advance Management Changes

On June 24, YZi Labs' management entity, YZi Labs Management, announced that it has reached an agreement with NASDAQ-listed CEA Industries (BNC) to further optimize strategies surrounding digital assets and corporate management. It is reported that BNC and YZi Labs will jointly seek an independent director with experience in digital assets, capital markets, and corporate governance to enhance the board structure. David Namdar, who previously served as CEO, will continue to fulfill his existing duties during the transition period. YZi Labs has agreed to terminate its previously initiated shareholder consent solicitation and withdraw related requests for book records review and shareholder register date requests. This agreement signifies the end of the previous potential governance dispute between the two parties, shifting towards collaborative company development through board restructuring and management optimization.