Toronto, Ontario--(Newsfile Corp. - June 25, 2021) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), a leading agriculture digital services and insights provider in North America, is pleased to announce it has appointed Joelle Faulkner as a director to the Company's Board. Joelle is a multi-generational farmer and the Founder and CEO of Area One Farms, a financial solution provider in the agricultural space. A Rhodes Scholar and Fulbright Scholar, Joelle obtained degrees in Engineering, Business and Law from Western University, Oxford University and Stanford University. She has been named as one of Canada's Top 40 Under 40, Canadian Private Equity Summit's Emerging Leader award, and Canada's Top 100 Most Powerful Women: Future Leaders.
"On behalf of the Board of Directors of Deveron, I am thrilled to welcome Joelle Faulkner as a new Director. Joelle brings great industry experience and an infectious winning spirit to our group and will be instrumental in developing our growth strategies for the future," said Bill Linton, Deveron's Chairman of the Board.
"Over the last 6 months Deveron has been able to increase its engaged acres by 553% through our M&A and organic growth strategies. We sped up our development time and began to leverage our platform with the acquisition of the award winning app and have begun to build vertical synergies in the US with our recent joint venture agreement with A&L Laboratories," said David MacMillan, Deveron's President and CEO. "As the company continues to execute on our growth strategy, Deveron will focus on how it can better serve growers and agribusiness. I could not be more excited to have Joelle join our team of Directors. Joelle's success and vision in serving growers and agribusiness is unparalleled, and this appointment only validates our strategies to provide growers and agribusiness turn-key technology solutions to cut costs and increase yields."
"I'm proud to be joining the Deveron Board," says Joelle Faulkner, Founder and CEO of Area One Farms. "I look forward to being a part of the team, driving to supply turn-key technology products to the market, creating success for growers and agribusiness in an industry that I love."
The Company has granted directors and employees of the company 300,000 options to purchase common shares exercisable at a price of $0.80 per common share. The options will expire on June 25, 2026, vest over 3 years. The shares issuable upon exercise of the options are subject to a four month hold period from the original date of grant.
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 drone, 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.
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David MacMillan
President & CEO Deveron Corp.
416-367-4571 ext. 221
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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 . 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.
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