Deveron Announces Appointment of CFO

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FOR IMMEDIATE RELEASE: September 11th, 2023                            


Toronto,Ontario– Deveron Corp. (TSX-V: FARM) (“Deveron”or the “Company”), a leading agriculture service and data company in North America, today announced, that Carmelo Marrelli has resigned as Chief Financial Officer (“CFO”) of Deveron Corp, effective immediately. In addition, the Company is pleased to announce the appointment of Akshay Shirodker, as CFO of Deveron Corp.

Akshay is a seasoned finance executive with proven ability to drive financial excellence and operational efficiency. To date his career has spanned various leadership roles, with his most recent position being, the Head of Finance and Operations at Opencare, a revenue generation technology platform for dental practices across North America, where he guided the company to profitability and helped double the platform’s patient marketplace revenue. Prior to this, he played a pivotal role in the successful M&A efforts at UXP Systems, an identity management platform transforming how consumers interact with tier-1 telecommunications providers, culminating in its acquisition by Amdocs. Akshay is a Chartered Professional Accountant earning his CPA designation during his tenure at KPMG.

“I am very excited to join the team at Deveron,” said Akshay Shirodker, CFO of Deveron Corp. “The team has built and consolidated an impressive organization in the agriculture services and data space. I look forward to utilizing my expertise in finance and technology to further develop and execute the company’s growth strategies for years to come.”

“To begin, I would like to thank Carmelo Marrelli, for his years of service, and his contribution to the growth of Deveron,” stated David MacMillan, President, and CEO of Deveron.  “We are thrilled to welcome Akshay to our executive team. With Akshay’s background in finance and operations, we believe he is prepared to leverage his extensive expertise and strategic insight in his role as CFO at Deveron. His commitment to innovation, financial discipline, and mentorship positions him as a valuable asset and a leader within the company. We anticipate that his contributions will drive financial growth and operational excellence, furthering our organization’s ongoing success.”

In addition, the Company announced that it has granted an aggregate of 500,000 stock options (the “Options“) to purchase common shares (the “Common Shares”) of the Company exercisable at a price of $0.34 per Common Share and expiring on September 11th, 2029, as part of the appointment. The common shares issuable upon exercise of the options are subject to a four- month hold period from the original date of grant and vest a third each year with the first vesting period being September 10th, 2024.

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 1billionacresare activelyfarmedannually.

For more information and to join our community, please visit or reach us on Twitter @Deveron.

Phil Linton

VP Corporate Development

Deveron Corp.

Tel: 647-622-0076

NeitherTSX VentureExchangenoritsRegulationServices Provider(as that term isdefinedin policiesof theTSX VentureExchange)accepts responsibility for the adequacy or accuracy of thisrelease.

Thisnewsreleaseincludescertainforward-lookingstatements”withinthemeaningofthatphraseunderCanadiansecuritieslaws.Withoutlimitation,statementsregardingfutureplansandobjectivesoftheCompanyareforwardlookingstatementsthatinvolvevariousdegreesofrisk.Forward-lookingstatementsreflectmanagement’scurrentviewswithrespecttopossiblefutureeventsandconditionsand,bytheirnature,arebasedonmanagement’sbeliefsandassumptionsandsubjecttoknownandunknownrisksanduncertainties,bothgeneralandspecifictotheCompany.AlthoughtheCompanybelievestheexpectationsexpressedinsuchforward-lookingstatementsarereasonable,suchstatementsarenotguaranteesoffutureperformanceand actualresultsor developmentsmaydiffermateriallyfromthosein ourforward-lookingstatements.ThefollowingareimportantfactorsthatcouldcausetheCompanysactualresultstodiffermateriallyfromthoseexpressedorimpliedbysuchforwardlookingstatements:changesin theworld-widepriceofagriculturalcommodities,generalmarketconditions,risksinherentinagriculture,theuncertaintyoffutureprofitabilityandtheuncertaintyofaccesstoadditionalcapital.Additionalinformationregardingthematerialfactorsand assumptionsthatwereappliedin makingtheseforwardlookingstatementsaswellasthevariousrisks anduncertaintieswefacearedescribedingreaterdetailinthe”RiskFactors”sectionofourannualandinterimManagement’sDiscussionand Analysisofour financialresultsand othercontinuousdisclosuredocumentsand financialstatementswefilewiththeCanadiansecuritiesregulatoryauthoritieswhich TheCompanyundertakesno obligation toupdatethisforward-lookinginformationexceptasrequiredbyapplicablelaw.TheCompanyreliesonlitigationprotectionforforward looking statements.