Kaival Brands Appoints New Independent Member to its Board of Directors

Private equity investor & former tobacco executive James P. Cassidy appointed to Kaival’s Board of Directors

GRANT-VALKARIA, Fla., June 07, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company" or "we," "our" or similar terms), the exclusive distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), including the BIDI Stick electronic nicotine delivery system (ENDS), which are intended for adults 21 and over, is pleased to announce the appointment of James P. Cassidy as a new member of its Board of Directors.

Mr. Cassidy joins the Board of Directors as part of Kaival Brands’ recently announced acquisition of an extensive vaporizer and inhalation technology patent portfolio from GoFire, Inc. Mr. Cassidy is an investor in, and serves as board advisor to, GoFire.

The appointment of Mr. Cassidy brings additional senior leadership experience to Kaival Brands. He has over twenty-five years of investing and operational experience with emerging growth companies.

“We are excited to announce Jim Cassidy as our newest independent director,” said Eric Mosser, Chief Operating Officer, President, and a director of Kaival Brands. “Jim’s background as a private equity investor and advisor to growing companies not only in the tobacco space, but within the consumer and healthcare spaces, will be of tremendous value as we look to expand into new verticals and opportunities following our GoFire patent portfolio acquisition.”

Mr. Cassidy currently serves as the founder and CEO of Preposterous Holdings, a family run private equity firm with offices in Asheville, North Carolina, which he established in 2013. Mr. Cassidy’s has over 25 years of extensive experience and expertise as a private equity investor and advisor across several industries including the key areas of tobacco, healthcare, consumer packaged goods, and technology. Prior to his current roles, from 2000 to 2007, Mr. Cassidy was partner in The StrataGroup, a wealth management advisory group at Smith Barney. He started his career from 1983 to 1993 at UST Inc., a tobacco business holding company, working in various roles in the government relations department and as Director of Corporate Services.