CEA Industries Inc. (NasdaqCM:CEAD) announced strategic alternatives update. The company continues to evaluate merger and acquisition opportunities and other alternatives for the future of the Company. As part of that evaluative process, the Company is also considering the legal procedure and practical steps for dissolving the Company, which would include a distribution of cash assets after creditors and other corporate obligations have been accounted for and satisfied.

For any plan of dissolution, management and the board of directors will need to formulate and adopt a plan of dissolution. Certain transaction opportunities, depending on their structure, and any plan of dissolution will require shareholder approval through a proxy solicitation process.