DEVONIAN HEALTH GROUP INC.

 

PRESS RELEASE
For immediate release

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

 

Devonian Announces the appointment of two new
members to the Board of Directors and Senior
Management Changes to support Growth Strategy.

 

QUEBEC, MAY 31st, 2017 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXV: GSD)
today announced the nomination of Mr. Jacques Bernier, BPharm., MBA and Dr. Louis Flamand, PhD.
effective as of May 30th, 2017.

“As Devonian progresses, rapidly within its pharmaceutical program, the time has come to expand the
Board of Directors to ensure the Corporation achieves its goals. The Devonian’s Board of Directors is
extremely pleased to be welcoming Mr. Jacques Bernier and Dr. Louis Flamand as directors of the
Corporation. They bring with them a wealth of Pre-clinical and pharmaceutical experience that enhances
the bench strength of the Board of Directors” said Dr. André P. Boulet, President and Chief Executive
Officer of the Corporation.

From 2008 until 2014, Mr. Bernier was CEO of Folia Biotech Inc. (“Folia”), a clinical stage
biopharmaceutical corporation focused on exploiting its proprietary immune-therapeutic platform to bring
to market therapeutic products in oncology and certain infectious diseases. During his tenure, he has
concluded several business partnerships that have strengthened the development of Folia’s technology.
Prior to joining Folia, Mr. Bernier acquired a broad management experience as the owner of a group of
pharmacies and as a member of the Board of Directors of various pharmaceutical corporations. He has a
profound understanding of the pharmaceutical industry and an acute experience in business
development.

Dr. Flamand is a full professor and vice-chair of the department of microbiology-infectious-diseaseimmunology
at the Faculty of medicine, Université Laval and senior researcher in the division of infectious
and immune diseases at the CHU de Quebec research center. Before joining Laval University,
Dr. Flamand obtained his PhD at the University of Montreal and post-doctoral training at the National
Institutes of Health and at the Institute of Human Virology (Maryland, USA). He received his MBA in
pharmaceutical management from Université Laval. Since 2008, he is President of the biohazards risk
committee at Université Laval. He is also member of the HHV-6 Foundation scientific advisory board
since 2006. Dr. Flamand has experience in pre-clinical development. Throughout his career, Dr. Flamand
has received several competitive scholarship awards and continuous funding support from several
funding agencies for his work in virology. Dr. Flamand is the author of more than 80 peer-reviewed
publications and is lead Editor of the book “Human Herpesviruses HHV-6A, HHV-6B & HHV-7: Diagnosis
and Clinical Management” 3rd edition.

The Corporation also announced that as of May 30th, Mr. François Michaud will not be acting as Chief
Financial Officer of the Corporation. Ms. Colette Laurin, the Corporate’s Corporate Controller, will assume
Mr. Michaud’s responsibilities as the Corporation’s interim Chief Financial Officer. The Corporation also
announces Mr. Matt Peppler has resigned as a member of the Corporation’s Board of Directors.

Dr. André P. Boulet, commented, “On behalf of the management team and the Devonian’s Board of
Directors, I would like to thank Matt and François for their contribution to Devonian over the last two
years”.

About Devonian

Devonian is a late stage botanical pharmaceutical corporation with novel therapeutic approaches
targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs. This
strategy is supported by US-FDA set of regulatory guidelines favouring a more efficient drug development
pathway versus traditional prescription medicines. Devonian is based on a broad-based platform
originating from over ten years of research. This platform provides a unique process of extraction,
purification, stabilization and conditioning of a molecular complex responsible for the photosynthetic
process in plants and algae: The Supra Molecular Complex Extraction and Stabilisation Technology
(SUPREX). The “Thykamine™” is the first product issued from this platform. The potent anti-inflammatory
and anti-oxidative activities of “Thykamine™” have been demonstrated in several pre-clinical experiments
as well as in a Phase 2a “proof of concept” clinical study in patients with mild-to-moderate distal ulcerative
colitis. The product is now moving into large phase 2 clinical trials in two therapeutic areas: Ulcerative
Colitis and Atopic Dermatitis. While the development of prescription botanical drugs is its core business,
Devonian is also involved in the development of high value derma-cosmeceutical products as part of a
secondary strategy to generate short-term revenues and optimize manufacturing efficiency.

Forward Looking Statements

This press release contains forward-looking statements about Devonian’s objectives, strategies and
businesses that involve risks and uncertainties. These statements are “forward-looking” because they are
based on our current expectations about the markets we operate in and on various estimates and
assumptions. Actual events or results may differ materially from those anticipated in these forward-looking
statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to
be inaccurate. Such risks and assumptions include, but are not limited to, Devonian’s ability to develop,
manufacture, and successfully commercialize value-added pharmaceutical and dermo-cosmeceutical
products, the availability of funds and resources to pursue R&D projects, the successful and timely
completion of clinical studies, the ability of Devonian to take advantage of business opportunities in the
pharmaceutical and dermo-cosmeceutical industries, uncertainties related to the regulatory process and
general changes in economic conditions. You will find a more detailed assessment of the risks that could
cause actual events or results to materially differ from our current expectations in Devonian’s prospectus
dated April 21st, 2017 under the heading “Risk Factors” related to Devonian’s business. As a result, we
cannot guarantee that any forward-looking statement will materialize. We assume no obligation to update
any forward-looking statement even if new information becomes available, as a result of future events or
for any other reason, unless required by applicable securities laws and regulations.

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.

 

Contact:
Dr. André P. Boulet, PhD
President and Chief Executive Officer
Devonian Health Group Inc.
Telephone: (514) 248-7509
E-mail: apboulet@groupedevonian.com