American Marconi Wireless News - Paragon News Release

Paragon Technologies Announces Audit Committee Investigation of Hesham Gad

a diversified holding company, announced today that the Audit Committee of the Board of Directors has engaged legal counsel from Holland & Knight LLP to conduct an independent investigation into the conduct of Hesham M. Gad. The Board of Directors previously replaced Mr. Gad as Chairman of the Board and Chief Executive Officer of Paragon on August 9, 2024, and on November 4, 2024, the Board terminated Mr. Gad as President of SI Systems, LLC and from any and all remaining positions he held with Paragon and its subsidiaries.

The Audit Committee is committed to conducting a prompt, expeditious, and thorough independent investigation, but it is unable to predict the duration or outcome of its investigation. The Company will provide further information from the Audit Committee's investigation at the appropriate time.

About Paragon Technologies

Paragon Technologies, Inc. is a holding company owning subsidiaries that engage in diverse business activities, including material handling, distribution, real estate, and investments. For additional information please visit: www.pgntgroup.com.

Investor Relations Contact:

Alliance Advisors IR
[email protected]

SOURCE: Paragon Technologies Inc.

Y.Nakamura--AMWN