March 8th, 2021
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 provide an update on the progress of its corporate initiatives which includes the signing of three new service agreements with leaders in the agriculture industry.
The Company signed a three-year service agreement to provide turn-key soil health data solutions for a global leader in carbon sequestration and sustainability within the agriculture industry. The service agreement has a minimum annual value US$125,000 per annum, which could increase depending on the demand for the client’s carbon benchmarking program. The project, which covers 21 states across the United States, uses the client’s proprietary in-field software and focuses on benchmarking and tracking increased carbon sequestration in soil.
Soil health and carbon sequestration are becoming increasingly important for farmers and agribusinesses. Deveron’s standardized program can efficiently collect and digitize soil data on millions of acres of farmland to help validate carbon credits available through sequestration and the monitoring of sustainable agriculture practices.
The second agreement is a three-year service agreement to provide turn-key drone solutions for a leading global seed manufacturer. The service agreement is valued at a minimum of US$103,000 per annum, with growth opportunities over the life of the contract. The service is targeted across seven states in the Midwest United States and focuses on mid-season analysis of corn crops.
Drone imagery continues to be a critical and practical tool for decision making at the farm level. Deveron’s turn-key drone solution provides growers and agribusiness of all sizes to scale data programs by leveraging our national network of data technicians that can provide customized
programs following highly technical protocols.
Finally, Deveron has also signed a multi-year agreement with a leading weather insights company to service and install weather stations in Canada and the United States. The service agreement represents another data product that our North American network of technicians can provide. Weather data plays a prominent role in decision making throughout the crop production cycle. Facilitating the deployment of hardware over a wide geographic area is a new method of leveraging Deveron’s growing network of data technicians that provide “last mile” service to farms throughout North America.
David MacMillan, Deveron’s President and CEO, commented “It is exciting to see clients of this magnitude rely on Deveron to provide such important unbiased data services. These contracts demonstrate the reliability of our growing network of data technicians across North America. Utilizing our standardized processes ensures consistent and high quality agricultural support data, providing the end user with the ability to make better decisions at the farm level.”
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.
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
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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 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.