Toronto, Ontario--(Newsfile Corp. - October 1, 2024) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), announces that in connection with its upcoming annual and special meeting (the "Meeting") of the shareholders of the Company to be held on October 25, 2024, the management information circular (the "Circular") and related materials have been filed on the Company's profile on SEDAR+.
At the Meeting, the Company will ask for shareholders to vote for a proposal to consolidate its common shares on the basis of up to five (5) issued common shares for one (1) new common share (the "Consolidation"). No fractional shares will be issued and any fractional shares will be rounded down to the nearest lower whole share. The Consolidation is subject to the approval of the TSX Venture Exchange, applicable securities regulatory authorities, and the approval of the shareholders of the Company.
Included in the Circular is the Statement of Executive Compensation - Venture Issuers (Form 51-102F6) (the "Statement of Executive Compensation") pursuant to National Instrument 51-102 - Continuous Disclosure Obligations, with respect to its stub period ended June 30, 2023 and December 31, 2022 and for the fiscal year ended June 30, 2024.
As a result of a routine continuous disclosure review by Staff of the Ontario Securities Commission (the "OSC") and in accordance with OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors, ("Notice 51-711"), the Statement of Executive Compensation for the stub period ended June 30, 2023 and December 31, 2022 is included in the Circular for the purposes of making the required disclosure to correct an omission from the Company's continuous disclosure materials.
About Deveron: Deveron is an agriculture technology company that uses data and insights to help farmers and large agriculture enterprises increase yields, reduce costs and improve farm outcomes. The company employs a digital process that leverages data collected on farms across North America to drive unbiased interpretation of production decisions, ultimately recommending how to optimize input use. Our team of agronomists and data scientists build products that recommend ways to better manage fertilizer, seed, fungicide, and other farm inputs. Additionally, we have a national network of data technicians that are deployed to collect various types of farm data, from soil to drones, that build a basis of our best-in-class data layers. Our focus is the US and Canada where 1 billion acres of farmland are actively farmed annually.
For more information and to join our community, please visit www.deveron.com/investors or reach us on Twitter @Deveron.
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 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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