Asset Management Agreement Revision Controversy Escalates: YZi Labs Demands BNC Withdraw False Allegations and Claims the So-Called "Secret Affiliate Agreement" Is Defamation

Odaily Planet Daily News: YZi Labs has issued a statement regarding the proposed amendments to the asset management agreement between CEA Industries (BNC) and the Board of Directors, strongly denying any obstruction of the amendment process and accusing the BNC Board of “distorting facts and misleading shareholders.” YZi Labs investment partner Alex Odagiu stated that the board acknowledges the need to “reduce management fees, shorten the term, and optimize termination clauses,” but attempts to blame delays in the amendment on YZi Labs and the so-called “Secret Side Agreement” are outright fabrications.

YZi Labs demands that the BNC Board immediately publicly retract the false allegations regarding the “Secret Side Agreement” and “YZi Labs obstructing the amendment,” ensure that directors associated with 10X abstain from related discussions and decisions, and fully disclose the proposed amendments and final agreement text to all shareholders before signing. They also reserve the right to take further legal action against current board members and stated that they will continue to hold the board accountable for information disclosure responsibilities. (Globalnewswire)