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Deveron Announces Filing of Management Information Circular

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Deveron Corp. (TSXV: FARM) has announced the filing of its management information circular and related materials on SEDAR+ for the upcoming annual and special meeting scheduled for October 25, 2024. At the meeting, shareholders will be asked to vote on a proposal to consolidate the company's common shares on a basis of up to 5:1. The consolidation is subject to approval from the TSX Venture Exchange, securities regulatory authorities, and shareholders.

The circular includes the Statement of Executive Compensation for the stub period ended June 30, 2023, December 31, 2022, and the fiscal year ended June 30, 2024. This inclusion is a result of a routine continuous disclosure review by the Ontario Securities Commission staff and aims to correct an omission from the company's previous continuous disclosure materials.

Deveron Corp. (TSXV: FARM) ha annunciato il deposito del proprio circolare informativa di gestione e dei materiali correlati su SEDAR+ per l'imminente assemblea annuale e straordinaria programmata per il 25 ottobre 2024. Durante l'assemblea, verrà chiesto agli azionisti di votare su una proposta di consolidare le azioni ordinarie della società con un rapporto fino a 5:1. La consolidazione è soggetta all'approvazione del TSX Venture Exchange, delle autorità di regolamentazione dei valori mobiliari e degli azionisti.

Il circolare include la Dichiarazione di Remunerazione Esecutiva per il periodo intermedio terminato il 30 Giugno 2023, il 31 Dicembre 2022 e l'anno fiscale terminato il 30 Giugno 2024. Questa inclusione è il risultato di una revisione di routine della divulgazione continua effettuata dallo staff della Commissione dei Valori Mobiliari dell'Ontario e mira a correggere un'omissione nei materiali di divulgazione continua precedenti della società.

Deveron Corp. (TSXV: FARM) ha anunciado el archivo de su circular de información de gestión y materiales relacionados en SEDAR+ para la próxima reunión anual y especial programada para el 25 de octubre de 2024. En la reunión, se pedirá a los accionistas que voten sobre una propuesta para consolidar las acciones ordinarias de la empresa en una proporción de hasta 5:1. La consolidación está sujeta a la aprobación de la TSX Venture Exchange, las autoridades regulatorias de valores y los accionistas.

La circular incluye la Declaración de Compensación Ejecutiva para el periodo intermedio finalizado el 30 de junio de 2023, el 31 de diciembre de 2022, y el año fiscal terminado el 30 de junio de 2024. Esta inclusión es el resultado de una revisión de divulgación continua de rutina realizada por el personal de la Comisión de Valores de Ontario y tiene como objetivo corregir una omisión de los materiales de divulgación continua anteriores de la empresa.

Deveron Corp. (TSXV: FARM)는 2024년 10월 25일로 예정된 연례 및 특별 회의를 위한 경영 정보 회람 및 관련 자료를 SEDAR+에 등록했다고 발표했습니다. 회의에서 주주들은 회사의 보통주를 5:1 비율로 통합하는 제안에 대해 투표할 것으로 요청받을 것입니다. 통합은 TSX Venture Exchange, 증권 규제 당국 및 주주의 승인을 받아야 합니다.

회람에는 2023년 6월 30일 종료된 중간 기간, 2022년 12월 31일 및 2024년 6월 30일 종료된 회계 연도의 경영 보상 보고서가 포함됩니다. 이 포함은 온타리오 증권 위원회의 직원에 의한 정기적인 지속적 공시 검토의 결과이며, 회사의 이전 지속적 공시 자료에서의 누락을 수정하는 것을 목표로 합니다.

Deveron Corp. (TSXV: FARM) a annoncé le dépôt de son circulaire d'information sur la direction et des documents connexes sur SEDAR+ pour la prochaine assemblée annuelle et spéciale prévue pour le 25 octobre 2024. Lors de cette réunion, il sera demandé aux actionnaires de voter sur une proposition visant à consolider les actions ordinaires de la société à un taux allant jusqu'à 5:1. La consolidation est soumise à l'approbation de la TSX Venture Exchange, des autorités de réglementation des valeurs mobilières et des actionnaires.

La circulaire comprend la Déclaration de Rémunération Exécutive pour la période intermédiaire se terminant le 30 juin 2023, le 31 décembre 2022 et l'année fiscale se terminant le 30 juin 2024. Cette inclusion résulte d'un examen de divulgation continue de routine réalisé par le personnel de la Commission des Valeurs Mobilières de l'Ontario et vise à corriger une omission dans les documents de divulgation continue précédents de la société.

Die Deveron Corp. (TSXV: FARM) hat die Einreichung ihres Managementinformationszirkels und der damit verbundenen Materialien auf SEDAR+ für die bevorstehende jährliche und außerordentliche Versammlung, die für den 25. Oktober 2024 geplant ist, bekannt gegeben. Auf der Versammlung werden die Aktionäre gebeten, über einen Vorschlag zur Konsolidierung der Stammaktien des Unternehmens im Verhältnis bis zu 5:1 abzustimmen. Die Konsolidierung steht unter dem Vorbehalt der Genehmigung durch die TSX Venture Exchange, die Wertpapieraufsichtsbehörden und die Aktionäre.

Der Zirkular enthält die Erklärung zur Vergütung des Managements für den kurzen Zeitraum, der am 30. Juni 2023 endete, sowie für den 31. Dezember 2022 und das am 30. Juni 2024 endende Geschäftsjahr. Diese Aufnahme ist das Ergebnis einer routinemäßigen Überprüfung der kontinuierlichen Offenlegung durch die Mitarbeiter der Ontario Securities Commission und soll ein Versäumnis in den vorherigen Offenlegungsmaterialien des Unternehmens korrigieren.

Positive
  • Proposed share consolidation may improve stock liquidity and attract institutional investors
  • Company addressing regulatory compliance by including previously omitted executive compensation information
Negative
  • Share consolidation may lead to a decrease in the total number of outstanding shares
  • Potential dilution of shareholder value if the stock price doesn't adjust proportionally after consolidation

Toronto, Ontario--(Newsfile Corp. - October 1, 2024) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), announces that in connection with its upcoming annual and special meeting (the "Meeting") of the shareholders of the Company to be held on October 25, 2024, the management information circular (the "Circular") and related materials have been filed on the Company's profile on SEDAR+.

At the Meeting, the Company will ask for shareholders to vote for a proposal to consolidate its common shares on the basis of up to five (5) issued common shares for one (1) new common share (the "Consolidation"). No fractional shares will be issued and any fractional shares will be rounded down to the nearest lower whole share. The Consolidation is subject to the approval of the TSX Venture Exchange, applicable securities regulatory authorities, and the approval of the shareholders of the Company.

Included in the Circular is the Statement of Executive Compensation - Venture Issuers (Form 51-102F6) (the "Statement of Executive Compensation") pursuant to National Instrument 51-102 - Continuous Disclosure Obligations, with respect to its stub period ended June 30, 2023 and December 31, 2022 and for the fiscal year ended June 30, 2024.

As a result of a routine continuous disclosure review by Staff of the Ontario Securities Commission (the "OSC") and in accordance with OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors, ("Notice 51-711"), the Statement of Executive Compensation for the stub period ended June 30, 2023 and December 31, 2022 is included in the Circular for the purposes of making the required disclosure to correct an omission from the Company's continuous disclosure materials.

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 drones, 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.deveron.com/investors or reach us on Twitter @Deveron.

Philip Linton
VP Corporate Development
plinton@deveron.com
Tel: 647-622-0076

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.sedarplus.ca. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward-looking statements.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225269

FAQ

What is the proposed share consolidation ratio for Deveron Corp (TSXV: FARM)?

Deveron Corp is proposing a share consolidation of up to five (5) issued common shares for one (1) new common share, subject to shareholder and regulatory approvals.

When is Deveron Corp's (TSXV: FARM) annual and special meeting scheduled?

Deveron Corp's annual and special meeting is scheduled for October 25, 2024.

What regulatory body conducted a continuous disclosure review of Deveron Corp (TSXV: FARM)?

The Ontario Securities Commission (OSC) conducted a routine continuous disclosure review of Deveron Corp.

What additional information has Deveron Corp (TSXV: FARM) included in its management information circular?

Deveron Corp has included the Statement of Executive Compensation for the stub period ended June 30, 2023, December 31, 2022, and the fiscal year ended June 30, 2024, to correct a previous omission.

DEVERON CORP

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