Deveron Announces Upsize to Private Placement Financing and Closing of First Tranche

 Toronto, Ontario – Deveron Corp. (TSX-V: FARM) (“Deveron” or the “Company”) a leading agriculture digital services and analytics provider in North America, is pleased to announce that further to its press release of August 3, 2021, that due to investor demand the Company has increased the size of its non-brokered private placement financing to gross proceeds of $8,210,957 through the issuance of 12,632,242 units in the capital of the Company (the “Units”) at a price of $0.65 per Unit (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (each, a “Common Share”) and one-half of one whole Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.85 per Common Share for a period of two (2) years from the date of issuance. 

In addition, the Company is pleased to announce that it has closed the first tranche of the Offering through the issuance of 11,397,430 Units for gross proceeds of $7,408,329. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Gross proceeds raised from the Offering will be used for working capital and general corporate purposes. 

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