Toronto, Ontario – Deveron Corp. (CSE: FARM) (“Deveron” or the “Company”) a leading agriculture digital services and insights provider in North America, , the Company has been accepted for listing on the TSX Venture Exchange (the “TSXV”) as a Tier 2 issuer, and its common shares will commence trading on September 21, 2020, on the TSXV under the symbol “FARM”.
David MacMillan, Deveron’s President and CEO commented, “Over the last four years, we have consistently grown our customer base and influence in helping farmers and agribusiness throughout North America collect reliable data through our turn-key networks of technicians that visit thousands of farm fields every year, collecting soil, drone and other types of field data. Additionally, our investment in our data insights division, continues to provide standardized interpretation and value-add recommendations to how to increase yield, reduce costs and improve farm outcomes, using the exponentially growing data sets that are generated on farms today. To commence trading on Canada’s leading exchange is an achievement we are incredibly grateful for and we believe will continue to add value to our stakeholders as our business continues to mature.”
In addition, the Company is pleased to announce that the board of directors of the Company has adopted a new stock option plan (the “2020 Stock Option Plan”). The maximum number of common shares issuable under the 2020 Stock Option Plan may not exceed 10% of the number of issued and outstanding common shares of the Company as at the date of a grant under the 2020 Stock Option Plan, as the case may be. Based on the number of common shares currently outstanding, 5,175,033 options can be granted pursuant to the 2020 Stock Option Plan. The Company currently has 4,275,000 options outstanding, leaving 900,033 options available for grant.
About Deveron UAS: Deveron is a leading agriculture technology company focused on providing data acquisition services and data insights in North America. Through its on-demand network of drone pilots and soil sampling technicians, the Company is providing scalable data acquisition solutions in the imagery and soil space. Additionally, through its wholly owned subsidiary Veritas Farm Management, the company provides growers in North America with independent data analytics and insights on the massive amount of data being generated on farms today.
For more information and to join our community, please visit http://www.deveronuas.com/register or reach us on Twitter @DeveronUAS or @MyVeritas_HQ
President & CEO Deveron Corp. 416-367-4571 ext. 221
This news release includes certain “forward-looking statements” within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management’s current views with respect to possible future events and conditions and, by their nature, are based on management’s beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes 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 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 world- wide price of agricultural commodities, general market conditions, risks inherent in 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 making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the “Risk Factors” section of our annual and interim Management’s Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at http://www.sedar.com. 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.