Deveron Corp. in closing of private placement pursuant to settlement agreement with dissident shareholders

Our Toronto office acted as special counsel to Deveron Corp. (the “Company”), a company listed on the TSX Venture Exchange, in connection with the closing of the first tranche of its private placement through the issuance of 22,805,991 units (the "Units") in the capital of the Company at a price of C$0.07 per Unit for gross proceeds of over C$1.5 million (the "Offering"). Each Unit is comprised of one common share (each, a "Common Share") in the capital of the Company and one-half of one whole Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.10 per Common Share until the date that is eighteen months from the date of issuance.

The private placement was completed in connection with a settlement agreement with certain dissident shareholders of the Company, one of whom was a current director of the Company, that had requisitioned a meeting of the Company’s shareholders. Our team advised the Company’s management team in completing the private placement, including coordinating the allocation of units in accordance with the settlement agreement and obtaining regulatory approval with respect to the private placement and settlement agreement.

Deveron is a leading North American agriculture technology company that uses data and insights to help farmers and large agriculture enterprises increase yields, reduce costs and improve farm outcomes.