Indus Holdings, Inc. Announces Director Appointments and Option Grants

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SALINAS, Calif., April 15, 2020 (GLOBE NEWSWIRE) -- Indus Holdings, Inc. (“Indus” or the “Company”) (CSE: INDS; OTCQX: INDXF), a leading, California-focused cannabis company, announces that Brian Shure and Kevin McGrath have been appointed to the Company’s board of directors.

“We are very excited to welcome Brian Shure and Kevin McGrath to Indus’ board of directors,” said George Allen, chairman of the board for Indus Holdings, Inc. “Their collective expertise and knowledge in this industry will be invaluable as we position the company for a profitable future,” added Mr. Allen.

Mr. Shure is an experienced and disciplined financial manager with over 20 years of thought leadership as portfolio manager and business operations executive. Mr. Shure is currently President of Ambrose Capital Partners. Prior to Ambrose, Mr. Shure served as the chief financial officer at MedData, a revenue cycle management company in the healthcare industry where he oversaw significant organic and M&A growth.  Mr. Shure was a Partner at Maximus Capital, a hedge fund dedicated to public health care investments, where he served on the firm’s Investment Committee. Mr. Shure is on the board of Prevent Cancer Foundation, the only U.S.-based non-profit organization solely dedicated to cancer prevention and early detection. Mr. Shure holds a BA from Yale University and MBA from Columbia Business School.

Mr. McGrath is a long-time investor in the cannabis space holding stakes in privately held medical cannabis companies such as Theraplant in Connecticut, LeafLine Labs in Minnesota, as well as being an early investor and former special advisor to GrowGeneration in Colorado. Prior to joining Indus’ board, Mr. McGrath was a founding partner of Merus Capital Partners, a New York City-based Hedge Fund. Mr. McGrath has held portfolio manager titles at Millennium Capital Management, Quad Capital Advisors, and First New York securities.  Mr. McGrath is a graduate of the University of Notre Dame.

The Company also announces that it has granted in accordance with the Company’s 2019 stock and incentive plan an aggregate of 2,885,000 options to purchase subordinate voting shares of the Company to officers and employees of the Company. Each option is exercisable at a price of Cdn$0.48 per share and expires on April 15, 2030. The options are subject to a 4-month hold period pursuant to the policies of the Canadian Securities Exchange.