SOURCE: Surna, Inc.

September 18, 2014 08:33 ET

Surna Engages Newbridge Financial for M&A and Financial Advisory Services; Company Completes Consolidation of Hydro, Sees Opportunities in Fragmented Industry

BOULDER, CO--(Marketwired - Sep 18, 2014) - Surna Inc. (OTCQB: SRNA), a company that develops, acquires, produces and sells equipment for the legal marijuana industry with a focus on disruptive technology, today announced it has recently engaged Newbridge Financial, Inc. for advisory services for funding, mergers and acquisitions, as well as financial, business, operations and related matters.

Based in Ft. Lauderdale, Florida, Newbridge Financial is a highly respected, boutique investment banking firm that specializes in emerging growth companies and dynamic industries and is taking an aggressive position in the legal marijuana industry.

"The cannabis industry remains highly fragmented," said Surna Chief Financial Officer, Douglas McKinnon. "Surna has established itself as an early industry leader with solid funding, state of the art products and a highly experienced management team as evidenced by this week's appointment of Todd Whitaker to VP - Engineering.

"With the addition of Newbridge to the team, we are aggressively looking for acquisitions that offer Surna: Entry into adjacent markets, intellectual property, outstanding management, growing cash flow or vertical integration, as well as hunting for some of the currently overlooked rising stars elsewhere in the legal cannabis industry," Mr. McKinnon added. "With our acquisition of Hydro Innovations now fully completed (Form 8-K to be filed shortly), Newbridge has a terrific team of investment bankers to augment our ability to source, analyze, evaluate and negotiate M&A opportunities -- and I am delighted to have them on board."

About Newbridge Financial, Inc.
Newbridge Financial, Inc. is the parent company of Newbridge Securities Corporation, a full service broker/dealer and investment banker (www.newbridgefinancial.com). Newbridge Financial is also the parent of a core group of companies that offer a broad spectrum of financial services and products to individuals and corporate clients.

About Surna Inc.
Led by Tom Bollich, the visionary technologist who co-founded famed gaming company Zynga which ultimately rose to a $10 billion market valuation, Surna's mission is to acquire intellectual property and scalable operating companies in the nascent, legal marijuana industry with a focus on disruptive technology, equipment and related support services (www.surna.com). Through its wholly owned subsidiary, Hydro Innovations, the Company offers a comprehensive line of commercial and small business indoor agriculture equipment (www.hydroinnovations.com).

The Company represents a pure play on explosive growth in the cannabis industry, while being agnostic as to the escalating proliferation of regulated, commodity cannabis growers & sellers, winners or losers; its business model excludes the production or sale of marijuana. ArcView industry research projects the highly fragmented $2.3 billion US cannabis industry will increase over four-fold to $10.2 billion by 2018.

Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results, such as the Company's ability to finance, complete and consolidate acquisition of IP, assets and operating companies, could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company such as a result of various factors, including future economic, competitive, regulatory, and market conditions. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • Investor Relations
    David Kugelman
    Atlanta Capital Partners, LLC
    (404) 856-9157
    (866) 692-6847 Toll Free - U.S. And Canada

    At the Company
    Tae Darnell
    VP and General Counsel
    (303) 993-5271
    tae@surna.com