Deveron announces completion of debt settlement

Toronto, Ontario–(Newsfile Corp. – June 21, 2024) – Deveron Corp. (TSXV: FARM) (“Déveron“or the”Business“), a leading agricultural data and services company in North America, is pleased to announce that, following its press releases dated May 10, 2022, May 18, 2022 and May 28, 2024, it has settled a total of $701,050 of debt owed to the holders of 7.0% unsecured convertible debentures (each, a “.Debenture“), representing the interest accrued for the second year of the debentures (the “Debt settlement“). In connection with the settlement of the debt, the Company issued a total of 6,146,341 ordinary shares (each, one “Common stock“) in the capital of the Company, at a price of $0.11406 per common share. All securities issued as part of the settlement of the debt are subject to a legal holding period of four months plus one day from the date of date of issue in accordance with applicable legislation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Deveron: Deveron is an agricultural technology company that uses data and insights to help farmers and large agricultural companies increase yields, reduce costs and improve agricultural outcomes. The company uses a digital process that leverages data collected from farms across North America to drive an unbiased interpretation of production decisions, ultimately recommending how to optimize the use of inputs. Our team of agronomists and data scientists create products that recommend ways to better manage fertilizers, seeds, fungicides and other agricultural inputs. Additionally, we have a national network of data technicians who are deployed to collect various types of agricultural data, from soil to drones, which form the basis of our best-in-class data layers. We focus on the United States and Canada where 1 billion acres of farmland are actively farmed each year.

For more information and to join our community, please visit www.deveron.com/investors or contact us on Twitter @Deveron.

Philip Linton
Vice President of Corporate Development
[email protected]
Tel: 647-622-0076

This press release includes certain “forward-looking statements” within the meaning of that expression under Canadian securities laws. Without limitation, statements regarding the Company’s future plans and objectives are forward-looking statements that involve varying degrees of risk. Forward-looking statements reflect management’s current beliefs regarding possible future events and conditions and, by their nature, are based on management’s beliefs and assumptions and are subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes that the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those contained in our forward-looking statements. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the global price of agricultural commodities, general market conditions, risks inherent to agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in establishing these forward-looking statements and the various risks and uncertainties that we face are described in more detail in the “Risk Factors” section of our annual and interim MD&A. of our financial results and other continuous disclosure documents and financial statements that we file with Canadian securities authorities and which are available at the following address: www.sedarplus.ca. The Company undertakes no obligation to update this forward-looking information, except as required by applicable law. The Company relies on litigation protection for forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213933