Asset Management Protocol Revision Controversy Escalates: YZi Labs Demands BNC Retract False Accusations and Claims So-Called "Secret Side Agreement" Is Smear

Odaily News YZi Labs issued a statement regarding the 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 agreement revision and accusing the BNC board of "distorting facts and misleading shareholders." YZi Labs investment partner Alex Odagiu stated that while the board acknowledges the asset management agreement needs "lower management fees, shorter terms, and optimized termination clauses," the attempt to blame the delay in agreement revision 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 agreement revision," ensure that directors affiliated with 10X recuse themselves from related discussions and decisions, and fully disclose the proposed revision 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 states it will continue to hold the board accountable for information disclosure. (Globalnewswire)