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CEA Industries Inc. Announces Adjournment of Annual Meeting of Stockholders

CEA Industries Inc. Announces Adjournment of Annual Meeting of Stockholders

CEA Industries Inc. (“Company”), (NASDAQ: CEAD, CEADW), a leader in controlled environment agriculture (CEA) systems engineering and technologies, today announced that its 2022 annual meeting of stockholders has been adjourned to October 6, 2022, at 1:00 PM, Mountain Time. The adjournment was due to a lack of quorum for the meeting scheduled on August 29th. The record date for the adjourned meeting will continue to be July 8, 2022.

Tony McDonald, CEA Industries Chairman and CEO, noted that the Company had received proxies for 3,540,460 shares of common stock outstanding for 44.512% of the shares eligible to vote at the meeting. For approval of the adjournment, the Company had received 3,294,406 or 41.418% of the voted shares eligible to vote at the meeting in favor of an adjournment, in the event that it was needed. Because the votes were generally in favor of electing the designated slate of directors and of ratification of the current accounting firm to continue as the independent auditors, as discussed in the Proxy Statement, dated July 20, 2022, the Company adjourned the annual meeting to continue to solicit votes on these proposals.

The Company’s Board of Directors continues to recommend a vote in favor of the proposals presented in the Proxy Statement for the reasons described therein, including (i) the election of the five director nominees named in the Proxy Statement to serve on the Board of Directors for a term of one year or until their respective successors are duly elected and qualified, (ii) the ratification of the selection of Sadler, Gibb & Associates, L.L.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2022, and (iii) the approval of any adjournment of the Annual Meeting, if necessary or appropriate, to permit solicitation of additional proxies to hold the meeting and approve the foregoing proposals.

Tony McDonald added, “To all our shareholders, your vote is important. For shareholders that hold their shares through brokerage accounts, several brokerage firms will not exercise their permitted discretionary authority in respect of our request for your proxy, so it is essential that you exercise your vote for them to act on your behalf. To vote, please contact our proxy solicitor, Advantage Proxy, Inc., toll free at 1-877-870-8565.”

Mr. McDonald continued, “Shareholders that have voted their shares need not do anything further. Those shares will continue as voted for the adjourned meeting, unless changes are affirmatively made or their vote is withdrawn.”