Deveron Announces Special Dividend

Rhea-AI Summary

Deveron (OTC:DVRNF) declared a special dividend of CAD$0.0042 per common share, approved by shareholders on December 30, 2025. The dividend is payable to holders of record on March 23, 2026 and expected to be paid on or about March 30, 2026.

The Special Dividend is treated as a return of capital. The company received US$1,000,000 as partial consideration for the sale of substantially all assets but will distribute CAD$896,513.17 due to working capital adjustments and foreign exchange fluctuations.

Positive

• Special dividend of CAD$0.0042 per share declared
• Return-of-capital distribution totaling CAD$896,513.17
• Record date set for March 23, 2026; payment on/about March 30, 2026

Negative

• Distribution reduced from planned US$1,000,000 to CAD$896,513.17
• Amount lowered by customary working capital adjustments and foreign exchange fluctuations

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

FAQ

What special dividend did Deveron (DVRNF) declare on March 16, 2026?

Deveron declared a special dividend of CAD$0.0042 per common share. According to the company, this dividend is classified as a return of capital and was approved by shareholders on December 30, 2025.

When will Deveron (DVRNF) pay the special dividend declared March 16, 2026?

The dividend is payable to shareholders of record on March 23, 2026 and is expected to be paid on or about March 30, 2026. According to the company, these are the announced record and payment dates.

How much total cash will Deveron (DVRNF) distribute to shareholders as a return of capital?

Deveron will distribute CAD$896,513.17 to shareholders as a return of capital. According to the company, this reflects working capital adjustments and foreign exchange effects from the Transaction proceeds.

Why is Deveron (DVRNF) distributing less than the originally planned US$1,000,000?

The distribution is lower due to customary working capital adjustments and foreign exchange fluctuations. According to the company, these items reduced the cash available compared with the original estimated amount.

Is Deveron's (DVRNF) special dividend treated as taxable income for Canadian shareholders?

The special dividend will be treated as a return of capital under the Income Tax Act (Canada). According to the company, shareholders should consult tax advisors for individual tax treatment and implications.