Welcome to our dedicated page for Deveron news (Ticker: DVRNF), a resource for investors and traders seeking the latest updates and insights on Deveron stock.
Deveron Corp. reports corporate developments tied to its public-company status and its history as an agriculture technology business using farm data and insights for production decisions across North America. Recent company news centers on the completed sale of substantially all assets, shareholder approvals, a special dividend treated as a return of capital, board composition changes, and the status of its common shares on the TSX Venture Exchange.
Deveron Corp. (TSXV: FARM), a North American agriculture services and data company, has filed corrective disclosures following an Ontario Securities Commission (OSC) review. The corrections address deficiencies in multiple financial reports, including the 2024 annual financials and quarterly reports for Q1, Q2, and Q3 2025.
The company made these corrections as part of its application to revoke a failure-to-file cease trade order issued by the OSC on November 1, 2024. Key corrections include adjustments to impairment expenses, earnings per share figures, reclassification of convertible debentures, and comparative period disclosures. As a result, Deveron has been placed on the OSC's Errors and Refilings List.
Deveron Corp. (TSXV: FARM) has announced the extension of maturity date for its $10.015 million 7% unsecured convertible debentures. The maturity date has been extended from August 16, 2025, to October 31, 2025.
Company insiders own $40,000 of the debentures, qualifying as a related party transaction. Deveron is utilizing exemptions from valuation and minority shareholder approval requirements under MI 61-101, as the insider-held debentures represent less than 25% of the company's market capitalization.
Deveron Corp. (DVRNF) has announced an extension of the maturity date for its 7% unsecured convertible debentures with a principal amount of $10,015,000. The maturity date has been extended from May 18, 2025 to August 16, 2025. Company insiders hold $40,000 of these debentures. All other terms of the debentures remain unchanged. The amendment is effective as of May 21, 2025, pending TSX Venture Exchange acceptance.
Deveron has entered into a forbearance agreement with Toronto Dominion Bank regarding an outstanding loan of approximately $26 Million. The agreement, signed on April 25th, 2025, covers both term debt and drawn operating line of credit under a secured credit agreement from May 15, 2023.
Key details of the forbearance:
- The lender agrees to temporarily halt exercising its rights and remedies for certain credit agreement defaults
- Agreement extends until September 30, 2025, or until a Forbearance Termination Event occurs
- Allows Deveron to continue its strategic review process
- Company aims to evaluate alternatives for addressing short-term liquidity needs
The company, which trades on TSX Venture Exchange under symbol FARM, will provide updates when appropriate. This development involves Deveron's subsidiary A&L Canada Laboratories in the credit agreement structure.
Deveron Corp (TSXV: FARM) announced the immediate resignation of Albert Contardi from his position as director of the company on April 8, 2025. The company expressed gratitude for Contardi's contributions during his tenure and extended well wishes for his future endeavors.
Deveron Corp (TSXV: FARM) reported declining financial results for Q2/2025. Revenue decreased 22% to $11.9M from $15.3M in Q2/2024, while Non-IFRS Adjusted EBITDA fell 39% to $3.4M from $5.6M.
The company faced challenges including softer sales in fertility and specialty tissue products in Canada, macroeconomic pressures in North American agriculture, and exit from unprofitable carbon business. Operating expenses decreased 22% to $7.24M, with 16% reduction from cost optimization efforts. Gross profit margin declined from 74% to 68%.
Notably, Deveron has significant upcoming debt obligations: $10.1M in convertible debentures due May 2025 and $22M Term Debt at A&L level up for renewal. The company is currently under a cease trade order from OSC dated November 1, 2024, and has filed for revocation.
Deveron Corp (TSXV: FARM) has released its audited financial results for the year ended June 2024 and Q3 2024. For the 12-month period ended June 2024, revenue decreased 3.5% to $35.3M, while Adjusted EBITDA improved to $2.0M from $584K in 2023. The company recorded a significant goodwill impairment charge of $43.1M, primarily related to A&L Canada Laboratories acquisition.
In Q3 2024, revenue decreased 6.3% to $7.2M, with Adjusted EBITDA improving from -$950K to -$348K. The company faces significant financial challenges, including $10.1M in convertible debentures due in May 2025, $22M term debt at A&L Labs up for renewal, and $4.4M owing on operating line. The company has implemented cost reduction measures, eliminating $2M in SG&A and service contracts in Canada.
Deveron Corp (TSXV: FARM) has received a cease trade order (CTO) from the Ontario Securities Commission due to failure to file required annual financial documents by the October 28, 2024 deadline. The missing documents include audited consolidated financial statements, management's discussion and analysis, and management certifications for the year ended June 30, 2024.
While the CTO is in effect, certain non-insider beneficial holders can sell securities through foreign organized regulated markets. The company expects operations to continue uninterrupted and anticipates the CTO will be lifted shortly after the required filings are submitted.
Deveron Corp. (TSXV: FARM) announces an expected delay in filing its Annual Filings for the financial year ended June 30, 2024, due by October 28, 2024. The Ontario Securities Commission (OSC) denied the company's application for a voluntary management cease trade order and will impose a failure-to-file cease trade order (FFCTO) shortly after the deadline.
The delay is attributed to additional expenses and financing delays caused by a shareholder requisition for an annual and special meeting. Deveron expects to remedy the default within two months. The company reminds shareholders to vote at the upcoming annual and special meeting on October 25, 2024, where important matters will be addressed, including director elections, stock option plan approval, and a proposed share consolidation.
Deveron Corp. (TSXV: FARM), a leading agriculture services and data company in North America, has announced the closing of a debt settlement. The company has settled an outstanding promissory note of $400,000 through the issuance of 5,714,285 Units. Each Unit consists of one common share and one-half of one whole Common Share purchase warrant. Each whole warrant allows the holder to acquire one Common Share at $0.10 per share within 18 months from the issuance date.
The securities issued in this Debt Settlement are subject to a four-month plus one day hold period from the issuance date and applicable resale rules. The company clarifies that this press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States, as the securities have not been registered under the U.S. Securities Act or state securities laws.