Deveron Announces Retirement of Jim Pirie From Board of Directors

Toronto, Ontario--(Newsfile Corp. - December 23, 2022) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), a leading agriculture data company in North America, announces that Jim Pirie, an original board member of Deveron, is retiring from the Board of Directors, effective January 1, 2023.

Jim spent much of his career in the natural resources industry throughout the Americas and elsewhere around the world, focused on exploration for a variety of metals and minerals. More recently he held executive positions in a number of early-stage public companies, including president of Greencastle Resources Ltd., an early sponsor of Deveron as it evolved into its current status as a leader in data-driven precision agriculture.

"Jim has been a great mentor to me throughout his tenure on Deveron's Board of Directors," said David MacMillan, President and CEO of Deveron Corp. "His extensive knowledge of the Canadian capital markets and early-stage ventures helped form our approach and focus to build something great, not just good. His persistent push to look under the next rock has impacted our entrepreneurial culture and dedication to keep moving forward and never forgetting about the customer and our field staff. I am truly thankful for Jim's service to the Company and wish him the best in his retirement."

In addition, Deveron Corp is pleased to announce it has granted an aggregate of 2,900,000 stock options (the "Options") to purchase common shares (the "Common Shares") of the Company exercisable at a price of $0.46 per Common Share and expiring on December 23, 2027, to employees and directors of the Company. The common shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.

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, 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.

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

"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."

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/149455