Asset Management Protocol Amendment Dispute Escalates: YZi Labs Demands BNC Retract False Accusations, Calls Alleged "Secret Side Agreement" a Smear

Odaily News YZi Labs has issued a statement regarding CEA Industries (BNC) board's proposal to amend the asset management agreement signed with 10X Capital Asset Management LLC, strongly denying that it hindered the amendment and accusing the BNC board of "distorting facts and misleading shareholders." Alex Odagiu, Investment Partner at YZi Labs, stated that while the board acknowledges the asset management agreement needs "lower management fees, a shorter term, and optimized termination clauses," its attempt to blame the delay in amending the agreement on YZi Labs and the so-called "Secret Side Agreement" is a blatant fabrication.

YZi Labs demands that the BNC board immediately publicly retract the false accusations regarding the "Secret Side Agreement" and "YZi Labs hindering the agreement amendment," ensure that directors affiliated with 10X recuse themselves from relevant discussions and decisions, and fully disclose the proposed amendment content and final agreement text to all shareholders before signing. YZi Labs also reserves the right to take further legal action against current board members and stated it will continue to pursue the board's disclosure responsibilities. (Globalnewswire)