FOR IMMEDIATE RELEASE: October 26, 2020
TSX-V: FARM
Toronto, Ontario – Deveron Corp. (TSX-V: FARM) (“Deveron” or the “Company”) a leading agriculture digital services and insights provider in North America, is pleased to announce it is has expanded its network of soil sampling data technicians adding new hubs in Saskatchewan, Canada and Nebraska, United States. With increased capacity of up to 150,000 acres of soil sampling per season, Deveron is continuing to develop a turn-key solution to increase soil sampling volume. Whether it be farmer or agribusiness, the Company is positioning itself as a reliable partner that offers consistent pricing, standardized product, and service with a high-level of customer support across all the territories the Company operates in.
The Company’s sales team has been actively engaging with new customers looking to leverage Deveron’s ability to improve programs for soil health. Deveron has added 4 additional enterprise customers, that collectively service thousands of farms in the US and Canada. This new opportunity provides a great base to sell Deveron’s additional analytic services.
The key strategic objectives of the new relationships:
- Continue to build North America’s most reliable, price consistent and scalable options for agribusinesses and farmers
- Expansion into two key agricultural markets where 58.9 million acres are collectively seeded with field crop1
- Continue to expand the company’s total farm acres under management
1.
1 Acres source from USDA for Nebraska (https://www.nass.usda.gov/Publications/AgCensus/2017/Online_Resources/County_Profiles/N ebraska/cp99031.pdf) and StatsCan for Saskatchewan
(https://www150.statcan.gc.ca/n1/pub/95-640-x/2016001/article/14807-eng.htm)
1: Deveron’s automated soil probe and internalized sampling equipment increases the speed at which we can sample fields.
Soil health is a key success factor in agriculture. Soil fertility levels continue to decrease, meaning famers need more data to understand how to better manage their inputs. As more and more leaders in agriculture determine the need for a strategic, scalable and consistent offering for soil health, Deveron sees its service offering filling a major gap in the industry.
David MacMillan, Deveron’s President and CEO commented, “We believe that many of the best practices in agriculture do not get utilized because they are cost prohibitive and difficult to manage at scale across significant and diverse geographies. By building a network of soil sampling technicians focusing on consistent, timely and repeatable soil sampling for agribusiness, we believe farmers can benefit from economies of scale and will sample more, ask more questions about how they are applying inputs and ultimately want more digital recommendations in terms of how to improve yield and reduce costs on the farm. Today marks a significant step forward for our team in our goal to improve soil health by expanding into a combined market of 58.9 million acres. We are looking forward to building value with our new partners and driving significant volume growth in both soil sampling and analytical offerings in the years to come.”
“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.”
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 manage fertilizer, seed, fungicide and other farm inputs better. 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 is actively farmed annually.
For more information and to join our community, please visit www.deveronuas.com/register or reach us on Twitter @DeveronUAS or @MyVeritas_HQ
David MacMillan
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 www.sedar.com. The Company undertakes no obligation to update this forward-looking informati n except as required by applicable law. The Company relies on
litigation protection for forward looking statements.