Indus Holdings, Inc. Announces New Chief Financial Officer

Board Member Brian Shure will join executive team as Chief Financial Officer
Steve Neil will remain at the Company in a senior capacity

SALINAS, Calif., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Indus Holdings, Inc. (CSE: INDS; OTCQX: INDXF), a leading, vertically-integrated cannabis company (the “Company”), with capabilities in cultivation, extraction and manufacturing, brand sales, marketing and distribution, is pleased to announce that Brian Shure has been appointed as Chief Financial Officer.

In anticipation of upcoming needs, the Company announces that Brian Shure, currently a Board member and Chairman of its Audit Committee, has accepted his appointment as Chief Financial Officer effective today. Steve Neil will remain with the company in a senior capacity and will focus his efforts on preparing the company for a potential US registration and other important initiatives in addition to supporting the incoming CFO in his transition.

In addition to serving on the Indus Board, Mr. Shure was most recently responsible for running Ambrose Capital Partners, an investment management firm directing public and private investments where he has served as President since 2008. He has served as Chief Financial Officer of MedData, a revenue cycle management company in the healthcare industry, where he oversaw significant organic and M&A growth. Mr. Shure joined MedData following the company’s acquisition of Cardon Outreach, where he led finance and M&A strategy as Chief Financial Officer, growing EBITDA from less than US$1 million to more than US$30 million.

An experienced and disciplined financial manager with more than 20 years of thought leadership as a portfolio manager and business operations executive, Mr. Shure will apply his veteran talent to the Company’s growing market position in a rapidly changing and highly regulated industry and by providing meaningful executive depth as the Company pursues and integrates growth acquisition targets in the next year.

“We remain committed to our path to profitability and leadership through scale. Brian’s experience will be extremely additive to the team,” said George Allen, Chairman of the Indus Board. “Steve’s contributions to the team are enormous and we are grateful to have him turn his focus to some important initiatives for the Company and its shareholders.”

ABOUT INDUS HOLDINGS, INC
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 distributor of cannabis products, servicing an extensive portfolio of brands and licensed retailers.