Mr. David MacMillan reports

DEVERON ANNOUNCES CLOSING OF FINAL TRANCHE OF PRIVATE PLACEMENT

Deveron Corp., further to its press releases of Aug. 15, 2024, and Sept. 4, 2024, has completed the final tranche of its non-brokered private placement through the issuance of 21,991,300 units in the capital of the company at a price of seven cents per unit for gross proceeds of $1,539,391. In total, an aggregate of 44,797,291 units were issued for gross proceeds of $3,135,810.37 through the completion of the two tranches of the offering.

Each unit comprised one common share in the capital of the company and one-half of one whole common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of 10 cents per common share until the date that is 18 months from the date of issuance.

In connection with the offering, the company paid Canaccord Genuity Corp. an aggregate of $100,060.42 and issued an aggregate of 1,429,430 broker warrants. Each broker warrant entitles the holder thereof to acquire one common share at a price of 10 cents per common share for a period of 18 months from the date of issuance.

In addition, further to the company's press release of Aug. 15, 2024, the company wishes to announce it intends to settle an outstanding promissory note in the amount of $400,000 through the issuance of 5,714,285 units, with each unit comprising one common share and one-half of one warrant. The debt settlement remains subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.

All securities issued in connection with the offering and will be issued in connection with the debt settlement are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Net proceeds from the offering will be used for general working capital purposes and for the partial repayment of certain promissory notes.

About Deveron Corp.

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. The company's team of agronomists and data scientists build products that recommend ways to better manage fertilizer, seed, fungicide and other farm inputs. Additionally, the company has a national network of data technicians that are deployed to collect various types of farm data, from soil to drones, that build a basis of its best-in-class data layers. The company's focus is the United States and Canada, where one billion acres of farmland are actively farmed annually.

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