Toronto, Ontario--(Newsfile Corp. - September 25, 2025) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), a leading agriculture services and data company in North America, announces that further to review by the Ontario Securities Commission ("OSC") of the Company's disclosure, and a subsequent request from OSC staff in connection therewith, the Company has made corrective disclosure with respect to the following documents:
- audited annual financial statements for the fiscal year ended June 30, 2024, and related management's discussion and analysis ("2024 Financials");
- interim unaudited financial statements for the three-month period ended September 30, 2024, and related management's discussion analysis for the interim ("Q1 Financials"); and
- interim unaudited financial statements for the six-month period ended December 31, 2024, and related management's discussion analysis for the interim ("Q2 Financials").
Corrective disclosure was requested by OSC staff in connection with the Company's application to revoke to failure-to-file cease trade order issued by the OSC on November 1, 2024. Corrective disclosure addresses various deficiencies, including:
- the inclusion of the twelve months ended December 31, 2022, comparative period disclosure throughout the 2024 Financials and to correct non-compliance with the requirements of National Instrument 51-102 related to the change in the Company's year-end; and
- Reflected impairment expense in the quarter ending June 30, 2024, in alignment with the financial statements for the period ending June 30, 2024, and adjusted the earnings per share figures for both the quarter ending June 30, 2024 and December 31, 2024.
For the purpose of making corrective disclosure, and in accordance with OSC Staff Notice 51-711 (Revised) - Refilings and Corrections of Errors ("SN 51-711"), the Company has filed the revised versions of the 2024 Financials, the Q1 Financials and the Q2 Financials on the Company's profile on SEDAR+ (www.sedarplus.com) providing additional details and clarifications with respect to the Company's reclassification of the convertible debenture as a current liability, providing additional details and clarifications with respect to the Company's reclassification of certain outstanding promissory notes, inclusion of the twelve months ended December 31, 2022, comparative period disclosure throughout the 2024 Financials and correction to non-compliance with requirements of NI 51-102 related to the change in the Company's year-end, as well as the impairment loss adjustment and reflection of the adjustments made to the 2024 Financials throughout the Q1 Financials and the Q2 Financials. Certifications of the 2024 Financials, the Q1 Financials and the Q2 Financials were also filed by the Company as part of its corrective disclosure and in compliance with National Instrument 52-109 - Certification of Disclosure in Companys' Annual and Interim Filings.
In addition, on September 23, 2025, the Company refiled and restated: (i) Q1 Financials; (ii) its Q2 Financials; and (iii) its interim financial statements for the interim period ended March 31, 2025, and related management's discussion analysis for the interim (the "Q3 Financials"), to correct the date the board of directors and audit committee of the Company approved the Q1 Financials, the Q2 Financials and Q3 Financials. Certifications of refiled interim filings were filed by the Company as part of its corrective disclosure and in compliance with National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings. As a result, the Company was placed on the Errors and Refilings List in accordance with OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors.
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.
For more information and to join our community, please visit www.deveron.com.
David MacMillan
President & CEO
dmacmillan@deveron.com
Tel: 647-963-2429
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268037
SOURCE: Deveron Corp.
