ORLETTO CAPITAL INC./DEVONIAN HEALTH GROUP INC.

 

PRESS RELEASE
For immediate release

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

 

THE SHAREHOLDERS OF ORLETTO VOTE 100% IN FAVOUR OF THE PROPOSED
AMALGAMATION WITH DEVONIAN

 

Québec, Québec, November 25, 2016 – Orletto Capital inc. (“Orletto” or the “Corporation”)
(TSX-V “OLE.P”), a Capital Pool Company and Devonian Health Group Inc. (“Devonian”), a
botanical pharmaceutical company based in Québec, are pleased to announce that the shareholders of
Orletto, present or represented by proxy at the annual general and special meeting of shareholders of Orletto
held on November 25, 2016 (the “Meeting”), unanimously voted in favour of the proposed amalgamation
with Devonian. The unanimous approval received at the Meeting represents an important milestone in
connection with the previously announced Qualifying Transaction of Orletto.

About Orletto

Orletto is a Capital Pool Company created pursuant to the Policy 2.4 and, to date, has not
conducted material operations of any kind, other than to identify and evaluate businesses and assets
with a view to completing a Qualifying Transaction. On September 9, 2014, Orletto completed its
initial public offering, and the Orletto common shares commenced trading on the Exchange. Since
incorporation, Orletto has incurred costs in carrying out its initial public offering, in seeking,
evaluating and negotiating potential Qualifying Transactions, and in meeting the disclosure
obligations imposed upon it as a reporting issuer.

About Devonian

Devonian is a late stage botanical pharmaceutical company 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 “Thykaminetm” is the first product issued
from this platform. The potent anti-inflammatory and anti-oxidative activities of “Thykaminetm” 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.

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.

 

Contacts:
Benoit Chotard
President and Director
Orletto Capital inc.
Telephone: (778) 996-4676
Email: benoitchotard@shaw.ca
André Boulet
President and Chief Executive Officer
Devonian Health Group inc.
Telephone: (514) 248-7509
Email: apboulet@groupedevonian.com