Devonian Appoints Viktoria Krasteva as Chief Financial Officer

Rhea-AI Summary

Devonian Health Group (TSXV: GSD; OTCQB: DVHGF) has appointed Viktoria Krasteva as its new Chief Financial Officer, effective February 17, 2025. Krasteva will replace interim CFO Colette Laurin, who will temporarily remain to facilitate the transition. The new CFO brings approximately 20 years of financial management and strategic leadership experience, particularly in healthcare, technology, and financial markets.

Krasteva is a chartered professional accountant (CPA) with a bachelor's degree in international commerce from the University of World Economy in Bulgaria and graduate degrees in Public Accountancy from Concordia and McGill universities. The appointment comes at what CEO Luc Gregoire describes as a 'pivotal stage' of the clinical-stage 's growth, which focuses on developing solutions for inflammatory diseases.

Positive

• Appointment of experienced CFO with 20 years of financial management expertise
• New CFO brings specific experience in healthcare and financial markets
• Smooth transition planned with interim CFO staying to assist

Negative

• None.

QUEBEC CITY--(BUSINESS WIRE)-- Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXV: GSD; OTCQB: DVHGF), a clinical stage corporation focused on developing unique solutions to inflammatory diseases, today announced the appointment of Ms. Viktoria Krasteva as Chief Financial Officer of the Corporation and the newest member of the corporate leadership team. Ms. Krasteva is scheduled to begin in this role on February 17, 2025, replacing Ms. Colette Laurin, interim Chief Financial Officer of the Corporation, who has agreed to stay on temporarily to help with a smooth transition.

“We are excited to have Viktoria joining Devonian at such a pivotal stage of our growth,” said Mr. Luc Gregoire, Devonian’s Chief Executive Officer. “Viktoria's demonstrated financial and strategic leadership in healthcare and technology companies, coupled with her experience in financial markets, both private and public, will be instrumental in shepherding Devonian through its next stage of growth.”

Ms. Krasteva brings to Devonian about 20 years of financial management and strategic leadership, with varied experience with financial capital markets across different industries including life sciences digital media and online services. She is a chartered professional accountant (CPA) and holds a bachelor’s degree in international commerce from the University of World Economy in Bulgaria and has graduate degrees in Public Accountancy from the universities of Concordia and McGill.

“I am inspired and thrilled to be joining the Devonian team at such a critical juncture of opportunity for the Corporation,” said Ms. Krasteva. “I look forward to leveraging my experience in leading companies through different stages of growth to help us execute in reaching the next level.”

About Devonian

Devonian Health Group Inc. is a clinical stage pharmaceutical company specializing in the development of drugs for various auto-immune inflammatory conditions with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription drugs for the treatment of inflammatory autoimmune diseases including but not limited to ulcerative colitis and atopic dermatitis. Based on a foundation of over 15 years of research, Devonian’s focus is further supported by a U.S. Food and Drug Administration set of regulatory guidelines favoring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines.

Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings. Devonian also owns a commercialization subsidiary, Altius Healthcare Inc., focused on selling prescription pharmaceutical products in Canada, under license from brand name pharmaceutical companies.

Devonian Health Group Inc. was incorporated in 2015 and is headquartered in Québec, Canada where it owns a state-of-the art extraction facility with full traceability ‘from the seed to the pill’. Devonian is traded publicly on the TSX Venture Exchange (the “Exchange”) (TSXV: GSD) and on OTCQB exchange (OTCQB: DVHGF).

For more information, visit www.groupedevonian.com

Cautionary Note Regarding Forward-Looking Statements

All statements, other than statements of historical fact, contained in this press release including, but not limited to those relating, the appointment of Ms. Krasteva as Chief Financial Officer and, generally, the above “About Devonian” paragraph, which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that these assumptions will prove to be correct and there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the applicable securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250121837561/en/

Devonian Health Group Inc.

Mr. Luc Grégoire

President and Chief Executive Officer

Telephone: 1 (450) 979-2916

E-mail: investors@groupedevonian.com

Renmark Financial Communications Inc.

Mr. Ben Ozerkevich

Telephone: (416) 644-2020 or (212) 812-7680

E-mail: bozerkevich@renmarkfinancial.com

www.renmarkfinancial.com

Source: Devonian Health Group Inc.

FAQ

When will Viktoria Krasteva start as CFO of Devonian Health Group (DVHGF)?

Viktoria Krasteva will begin her role as CFO of Devonian Health Group on February 17, 2025.

What experience does the new DVHGF CFO Viktoria Krasteva bring to the company?

Viktoria Krasteva brings about 20 years of financial management and strategic leadership experience, with expertise in healthcare, technology, and financial markets. She is a CPA with degrees from the University of World Economy in Bulgaria, Concordia, and McGill.

Who is Viktoria Krasteva replacing as CFO at Devonian Health Group (DVHGF)?

Viktoria Krasteva is replacing Colette Laurin, who has been serving as interim Chief Financial Officer at Devonian Health Group.

What are Viktoria Krasteva's educational qualifications for the DVHGF CFO position?

Viktoria Krasteva is a chartered professional accountant (CPA) with a bachelor's degree in international commerce from the University of World Economy in Bulgaria and graduate degrees in Public Accountancy from Concordia and McGill universities.