Deveron Selected as Key Partner in $7.5 Million USDA Climate Smart Commodities Initiative

Toronto, Ontario--(Newsfile Corp. - October 12, 2022) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), a leading agriculture data company in North America, is pleased to announce the Company has been named as a key partner in a multiyear US $7.5 million USDA initiative, with current enterprise client, AgriCapture. The partnership, which is focused on Arkansas, Mississippi, Missouri, Louisiana, Texas, and California, provides AgirCapture access to Deveron's carbon services platform for in-field collection, lab analysis, and digitization of soil carbon data. The Company has agreed to provide US $2 million in collection service and soil analytics for the initiative.

AgriCapture has pioneered an innovative measurement and verification process that certifies climate-friendly rice cultivation, leveraging accurate soil sampling and lab analysis to quantify reductions in GHG emissions. "As a partner of AgriCapture's Climate-Friendly Rice Program, Deveron will perform soil testing and analysis across the farms in our program," says John Farris, Founder and CEO of AgriCapture. "High-quality soil carbon data from direct soil sampling is the most accurate way to verify the many climate benefits of climate-friendly rice."

"We are so excited to see the USDA make such a substantial commitment to helping the agricultural industry evaluate and adopt new, more climate friendly practices. By committing to its US $2.8 billion investment, the USDA has truly made its mark on the future of agriculture. Our partnership with AgriCapture on this USDA program speaks volumes to Deveron's creditability as an impartial data provider in the agricultural space," said David MacMillan, Deveron's President, and CEO. "As demand grows for carbon data, supply continues to be a pain point for many large enterprises looking to leverage agricultural carbon information. Deveron's carbon services platform eliminates this pain point for enterprise. By leveraging our network of 100+ soil technicians and agronomists, Deveron acts as a data aggregator for enterprise, providing streamlined access to useful, impartial agricultural data that is made available to our clients via API. "

To date Deveron has signed US $9 million in enterprise contracts to use the Company's carbon services platform since its launch in Q3/2021. The platform eliminates significant impediments to the accurate measurement of carbon sequestration in agricultural land and is a key enabler for creating reliable and credible carbon credits. The platform is built on three key principles highlighted below:

• Leverage Deveron's growing network of trained and dedicated soil technicians across North America, thus ensuring consistency of sampling
• Provide single chain of custody from the farm to the lab to the client in a digital platform
• Ensure soil data integrity via best-in-class data security

To find out more about our carbon platform, visit: https://deveron.com/carbon/

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. Our geographic focus is the US and Canada where 1 billion acres are actively farmed annually.

For more information, please visit www.deveron.com.

David MacMillan
President & CEO
Deveron Corp. dmacmillan@deveron.com
Tel: 416-367-4571

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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 worldwide 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 information except as required by applicable law. The Company relies on litigation protection for forward looking statements.

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