Kaival Brands Innovations Group, Inc. announced that upon the consummation of the Closing, the size of the Board was increased by one (1) member and fixed at a total of eight (8) members and Mr. Cassidy was appointed to fill the resulting vacancy on the Board. The following is certain biographical information regarding Mr. Cassidy. James P. Cassidy, age 61, is the founder and Chief Executive Officer of Preposterous Holdings, a family run private equity firm with offices in Asheville, North Carolina he established in 2013.

Mr. Cassidy has worked as a private equity investor and advisor for over 25 years with dozens of companies across several industries, with extensive experience in the tobacco, technology, hospitality, consumer packaged goods, and healthcare sectors. Since May 2021, he has served as Chairman of the Board of Two Trees Beverage Company, a North Carolina-based technology company focused on the spirits industry. Beginning in 2016, he was an early investor in, and helped guide, GoFire as a board member and consultant until the sale of that company's intellectual property portfolio to the Company in May 2023.

From 2000 to 2007, Mr. Cassidy was partner in The StrataGroup, a wealth management advisory group at Smith Barney. Mr. Cassidy started his career at UST Inc., a tobacco business holding company, where he worked in various roles from 1983 to 1993 in the government relations department as Director of Corporate Services.