Deveron Corp. in settlement with dissident shareholders
Canada | August 19, 2024
Client: Deveron Corp.
Our Toronto office acted as special counsel to Deveron Corp., a company listed on the TSX Venture Exchange, in negotiating 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.
Working closely with Deveron’s management team, our team successfully negotiated a timely settlement agreement with the dissident shareholders pursuant to which they agreed to withdraw the requisition and comply with customary standstill covenants relating to, among other matters, the solicitation of proxies of the company.
The parties further agreed that Deveron would complete a private placement for proceeds of up to C$3.4 million.
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.
Working closely with Deveron’s management team, our team successfully negotiated a timely settlement agreement with the dissident shareholders pursuant to which they agreed to withdraw the requisition and comply with customary standstill covenants relating to, among other matters, the solicitation of proxies of the company.
The parties further agreed that Deveron would complete a private placement for proceeds of up to C$3.4 million.
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.