Devonian Appoints New Officers and Announces Grant of Stock Options
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QUÉBEC CITY — Devonian Health Group Inc. (' Devonian ' or the ' Corporation ') (TSXV: GSD; OTCQB: DVHGF), a clinical stage corporation focused on developing unique solutions to inflammatory diseases, today announced the appointment of Dr. André Boulet as Chief Executive Officer of the Corporation, replacing Mr. Luc Gregoire who will continue in the new role of Executive Vice-President Strategy of the Corporation, effective June 9, 2025.
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'As we enter a new phase of development, we are fortunate to retain Luc's deep strategic insight and leadership in a role focused on long-term planning and innovation. As Executive Vice President of Strategy, he will continue to drive key initiatives, ensuring continuity and alignment with our mission while supporting the executive team through this important transition, ' stated Dr. Boulet, President & CEO of the Company.
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'I look forward to continuing to advise the executive team and help garner support from external stakeholders, as the Company sharpens its focus on its high potential anti-inflammatory clinical programs,' said Luc Gregoire.
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The Corporation also announced that its board of directors has approved the grant of options to purchase common shares of the Corporation (the ' Stock Options ') primarily for a director of the Corporation and the Chief Financial Officer, both of whom joined the organization in the past few months. The Stock Options were granted at an exercise price of $0.15 for a period of 10 years from the date of grant, which ends on June 9, 2035. An aggregate of 438,596 Stock Options was granted to a director of the Corporation and an aggregate of 850,000 Stock Options was granted to employees of the Corporation. 50.33% of these Stock Options are exercisable immediately, 12.42 % shall vest upon the date that is 12 months from the date of issuance; 12.42 % shall vest upon the date that is 24 months from the date of issuance 12.42 % shall vest upon the date that is 36 months from the date of issuance and the remaining 12.42 % shall vest upon the date that is 48 months from the date of issuance.
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About Devonian
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Devonian Health Group Inc. is a clinical stage pharmaceutical company specializing in the development of drugs for various auto-immune inflammatory conditions with novel therapeutic approaches to targeting unmet medical needs. Devonian's core strategy is to develop prescription drugs for the treatment of inflammatory autoimmune diseases including but not limited to ulcerative colitis and atopic dermatitis. Based on a foundation of over 15 years of research, Devonian's focus is further supported by a U.S. Food and Drug Administration set of regulatory guidelines favoring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines.
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Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings. Devonian also owns a commercialization subsidiary, Altius Healthcare Inc., focused on selling prescription pharmaceutical products in Canada, under license from brand name pharmaceutical companies.
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Devonian Health Group Inc. was incorporated in 2015 and is headquartered in Québec, Canada where it owns a state-of-the art extraction facility with full traceability 'from the seed to the pill'. Devonian is traded publicly on the TSX Venture Exchange (the ' Exchange ') (TSXV: GSD) and on OTCQB exchange (OTCQB: DVHGF).
For more information, visit www.groupedevonian.com Cautionary Note Regarding Forward-Looking Statements All statements, other than statements of historical fact, contained in this press release including, but not limited to those relating, the appointment of Ms. Krasteva as Chief Financial Officer and, generally, the above 'About Devonian' paragraph, which essentially describes the Corporation's outlook, constitute 'forward-looking information' or 'forward-looking statements' within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release.
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Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that these assumptions will prove to be correct and there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
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By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the applicable securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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Devonian Health Group Inc.
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