Deveron Announces Special Dividend

Toronto, Ontario--(Newsfile Corp. - March 16, 2026) - Deveron Corp. (TSXV: FARM.H) ("Deveron" or the "Company") is pleased to announce that its board of directors has declared a special dividend (the "Special Dividend") of CAD$0.0042 per common share. The Special Divided was approved by the shareholders at the special meeting held on December 30, 2025.

The dividend will be paid to shareholders of record as at March 23, 2026, and the dividend will be paid to shareholders on or about March 30, 2026. The Special Dividend will be treated as a return of capital in accordance with the Income Tax Act (Canada).

Further to the Company's press releases of November 3, 2025, December 19, 2025, December 30, 2025 and February 13, 2026, the Company was to distribute an aggregate of US$1,000,000 to the shareholders of the Company, as a return of capital. The Company received the US$1,000,000 as partial consideration for the sale of substantially all of its assets (the "Transaction") in accordance with a share and asset purchase agreement (the "Purchase Agreement") with RRL Ultimate Parent, LLC ("Parent"), 1001388516 Ontario Inc. ("BidCo" and together with Parent, the "Share Purchasers"), Maple NewCo, LLC (the "US Buyer" and together with the Share Purchasers, the "Purchasers"), Deveron USA, LLC ("Deveron USA"), Woods End Laboratories, LLC ("Woods End", and together with Deveron USA, the "Asset Vendors" and together with the Company, the "Vendors"), and certain minority vendors (collectively, the "Minority Vendors"). Due to the difference from the estimated cash position on the closing of the Transaction, customary working capital adjustments and foreign exchange fluctuations, the Company will be distributing CAD$896,513.17 to its shareholders.

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.

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/288712