Jon Avidor Named CEO of Shryne Group

Industry Vet to Lead #1 Selling Vape Brand and #3 Overall Cannabis Brand in the US

LOS ANGELES--(BUSINESS WIRE)--Shryne Group, Inc. has appointed Jon Avidor as Chief Executive Officer, a role he assumes from his previous perch as Shryne's President. His background and experience will be crucial to helping Shryne’s continued expansion both in California and in new states as it continues to serve its broader mission of building the #1 global brand in cannabis and positively impacting all communities in which it operates.

With 90% of Americans in support of cannabis prohibition repeal in some form (Pew Research) and the regulated US market alone forecasted to reach $43 billion by 2025 (New Frontier Data as reported by Forbes), the growth opportunity for Shryne is promising.

Jon previously served as Shryne’s Executive Chairman and most recently as its President and Interim CFO. He brings over a decade of combined experience in cannabis, mergers and acquisitions, corporate law, and venture capital. Jon spearheaded the corporate mergers which led to the creation of Shryne in 2019 and led the financing transactions which have fueled Shryne's recent growth. Jon is also an attorney who previously practiced law at Goodwin Procter in Silicon Valley and Sullivan & Cromwell in New York, and holds a JD-MBA from Northwestern’s Kellogg School of Management.

As CEO, Jon will build on the strong brand and community that have been the hallmarks of Shryne’s success. Market research firm BDSA recently named Shryne’s flagship brand STIIIZY as the #1 selling vape brand in the US, the #3 selling US brand overall and #1 selling brand overall in California. Shryne has the largest retail footprint in California, with 18 open stores, including San Francisco, Los Angeles, San Bernardino, Modesto, Palm Desert, Riverside and Vista, an additional five stores under construction and plans to reach 40+ locations by the end of 2022.

Mr. Avidor takes over as CEO from Brian Mitchell, who has stepped down from the role for personal reasons unrelated to Shryne.

Tak Sato Fills President Role Vacated by Avidor

Tak Sato takes over from Mr. Avidor as President of Shryne and had previously served as Chief Development Officer. Tak has extensive experience in acquisitions and licensing in the cannabis industry and leads Shryne’s expansion in California and in new states. Prior to joining Shryne, he led retail expansion for MedMen, one of the leading brands in the industry, acquiring over 40 retail licenses through M&A transactions and competitive processes. Tak has structured and closed over $700 million in cannabis-related transactions. Tak is a graduate of Columbia Law School and represented numerous Fortune 100 companies at Latham & Watkins in Los Angeles and Morrison & Foerster in Tokyo prior to joining the cannabis industry.

About Shryne Group Inc.

Shryne Group Inc. is a Los Angeles-based cannabis holding company with a vertically integrated asset and license portfolio covering the breadth of California, the largest legal cannabis market in the world. We have 18 open retail locations across California with five more locations under construction and plans for 40+ locations open by the end of 2022. We have Cultivation, Manufacturing, and Distribution facilities in Humboldt County, Los Angeles, Oakland, and Lompoc. Shryne is composed of 2,200 employees across business lines. While rooted in California, we also sell products in Arizona, Nevada and Michigan.

Our flagship brand STIIIZY has a passionate following and is inspired by authentic cannabis culture, with the goal of providing the highest quality cannabis products at affordable prices. The STIIIZY product line is the #1 selling vape brand nationally, the #1 overall cannabis brand in California, and the #3 selling cannabis brand overall nationally.

For more information, visit www.shrynegroup.com.