Devonian Health Group Announces Closing of a Private Placement and the Grant of Stock Options.

Not for distribution to United States newswire services or for dissemination in the United States

QUEBEC, December 30, 2020 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXv: GSD), a clinical stage botanical pharmaceutical corporation, focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, is pleased to announce that it has closed a private placement (the “Offering”) by issuing 10,100,000 units (the “Units”) at a price of $0.12 per Unit for aggregate gross proceeds of $1,212,000. Each Unit consists of one subordinate voting share and one-half (1/2) of one share purchase warrant (each whole share purchase warrant, a “Warrant”). Each Warrant will entitle its holder to purchase one subordinate voting share, at a price of $0.15, until December 29, 2022.

The Corporation paid Raymond James Ltd. an intermediation fees in the amount of $22,100.

The net proceeds of the Offering will be used by the Corporation for working capital and general corporate purposes.

All securities issued under the Offering are subject to a four month and one day hold period from the date of issue in accordance with applicable securities laws, ending on April 30, 2021. This Offering has received conditional approval from the TSX Venture Exchange and remains subject to the final approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Grant of Stock Options
In addition, the Corporation announces that the Board of Directors has approved stock option grants to purchase subordinate voting shares in the share capital of the Corporation (the “Options”). These Options are exercisable at a price of $0.12 for a period of ten years from the date of grant. The Corporation has granted 801,645 Options to management of the Corporation. These Options are exercisable on the grant date.

About Devonian
Devonian Health Group Inc. is a late-stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs from plant materials and algae 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 US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings.  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’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSXV Exchange (TSXv:GSD).

For more information, visit www.groupedevonian.com

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, the intended use of proceeds of the Offering, the final approval of the TSX Venture Exchange in connection with the Offering, the above “About Devonian” paragraph, Devonian’s ability to develop, manufacture, and successfully commercialize value-added pharmaceutical and 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 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

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DEVONIAN ANNOUNCES THE ISSUANCE OF UNITS IN SETTLEMENT OF INTERESTS OWED TO DEBENTURE HOLDERS.

QUEBEC City, October 9, 2020 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXv: GSD), a clinical stage botanical pharmaceutical corporation, focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, announces today the issuance of the following units in settlement of interests owed to a holders of debenture issued in the private placement, as announced by press releases dated July 19, 2018:

• 201,982 units at a unit price of $ 0.149 (each, a “Unit”) will be issued to holders of debentures issued in the second tranche of the private placement closed on August 31, 2018, in consideration for the interest due on August 31, 2020 for an aggregate amount of $ 30,095. Each Unit consists of one subordinate voting share of the Corporation (a “Subordinate Voting Share”) and one warrant (a “Warrant”). Each Warrant entitles its holder to subscribe for one Subordinate Voting Share of the Corporation at a price of $ 0.194 for a period of 48 months, and
• 33,832 Subordinate Voting Shares will be issued to Mr. Jacques Bernier, holder of debentures issued in the second tranche of the private placement closed on August 31, 2020. These Subordinate Voting Shares are issued against the interest due to Mr. Jacques Bernier on August 31, 2020 for an aggregate amount of $ 5,041.

The issuance of Units is subject to the approval of the TSX Venture Exchange and will be subject to a hold period of 4 months and one day.

The payment of interest in the form of securities of the Corporation takes place in favor of Mr. Jacques Bernier (for an amount of $ 5,041 or 33,832 Subordinate Voting Shares), a director of the Corporation, which constitutes a “related party transaction” within the meaning of Regulation 61-101 respecting protection of minority security holders in special transactions (“Regulation 61-101”) and within the meaning of Policy 5.9 of the Stock Exchange – Protection of Minority securities holders in Special Transactions. However, the directors of the Corporation who voted have determined that exemptions from the formal valuation and minority approval requirements provided for in sections 5.5 (a) and 5.7 (1) (a) of Regulation 61-101 respectively may be invoked as neither the fair market value of the Subordinate Voting Shares issued to such insider nor the fair market value of the consideration paid exceeds 25% of the market capitalization of the Corporation. No director of the Corporation has expressed a contrary opinion or disagreement with the foregoing.

A material change report relating to this transaction with a related party will be filed by the Corporation no later than 21 days prior to the date on which the subordinate voting shares and the Warrants are expected to be issued as the conditions of participation of unrelated persons on the one hand and related persons on the other hand in connection with the issuance of the subordinate voting shares and the Warrants were not determined.

About Devonian
Devonian Health Group Inc. is a late stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs from plant materials and algae 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 US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings.  Devonian Health Group Inc. was incorporated in 2013 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’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSX Venture Exchange (TSXv:GSD).

For more information, visit www.groupedevonian.com.

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 21^st, 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

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DEVONIAN ANNOUNCES CORRECTION TO PRESS RELEASE ISSUED JULY 28, 2020.

QUEBEC, July 30, 2020 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXv: GSD), a clinical stage botanical pharmaceutical corporation, focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, announces today that a correction had to be made to the press release issued on July 28, 2020, concerning the granting of stock options:

Stock Option Grants
On July 28, 2020, the Corporation announced that the Board of Directors had approved stock option grants to purchase subordinate voting shares in the share capital of the Corporation (the “Options”). These Options are exercisable at a price of $0.15 for a period of ten years from the date of grant. It was initially announced that an aggregate of 2,085,000 Options had been granted to certain directors and consultants of the Corporation. In addition, the Corporation announced that it has granted 1,650,000 stock options to management and employees of the Corporation. An error was found, and it should have read that 848,355 stock options had been granted to management and employees of the Corporation.

About Devonian
Devonian Health Group Inc. is a late stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs from plant materials and algae 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 US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings.  Devonian Health Group Inc. was incorporated in 2013 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’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSX Venture Exchange (TSXv:GSD).

For more information, visit www.groupedevonian.com.

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 21^st, 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

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DEVONIAN ANNOUNCES THE ISSUANCE OF UNITS IN SETTLEMENT OF INTERESTS OWED TO A DEBENTURE HOLDER AND STOCK OPTION GRANTS.

QUEBEC, July 28, 2020 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXv: GSD), a clinical stage botanical pharmaceutical corporation, focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, announces today the issuance of the following units in settlement of interests owed to a holder of debentures issued in the private placement, as announced by press releases dated July 19, 2018:·         272,467 units at a unit price of $0.182 (the “Units”) are issued to Aspri Pharma Canada Inc. (“Aspri”), holder of a debenture issued in the first tranche of the private placement closed on July 19, 2018. These Units are issued against the interest due to Aspri as of July 18, 2020 for a total amount of $49,589. Each Unit consists of one subordinate voting share and one warrant (a “Warrant”). Each Warrant gives its holder the right to subscribe to a subordinate voting share in the share capital of the Corporation at a price of $0.237 for a period of 48 months. The issuance of Units is subject to the approval of the TSX Venture Exchange and will be subject to a hold period of 4 months and one day.The settlement of interests in the form of Units of the Corporation takes place in favor of Aspri (for an amount of $49,589 or 272,467 Units), a holder of more than 10 % of the securities of the Corporation, which constitutes a “related party transaction” within the meaning of Regulation 61-101 respecting protection of minority security holders in special transactions (“Regulation 61-101”) and within the meaning of Policy 5.9 of the Stock Exchange – Protection of Minority securities holders in Special Transactions. However, the directors of the Corporation who voted have determined that exemptions from the formal valuation and minority approval requirements provided for in sections 5.5 (a) and 5.7 (1) (a) of Regulation 61-101 respectively may be invoked as neither the fair market value of the Units issued to this insider nor the fair market value of the consideration paid does not exceeds 25 % of the market capitalization of the Corporation. No director of the Corporation has expressed a contrary opinion or disagreement in connection with the foregoing.A material change report relating to this transaction with a related party will be filed by the Corporation no later than 21 days prior to the date on which the subordinate voting shares and the Warrants are expected to be issued as the conditions of participation of unrelated persons on the one hand and related persons on the other hand in connection with the issuance of the subordinate voting shares and the Warrants were not determined.

Stock Option Grants
In addition, the Corporation announces that the Board of Directors has approved stock option grants to purchase subordinate voting shares in the share capital of the Corporation (the “Options”). These Options are exercisable at a price of $0.15 for a period of ten years from the date of grant. An aggregate of 2,085,000 Options was granted to certain directors and consultants of the Corporation. Additionally, the Corporation has granted 1,650,000 stock options to management and employees of the Corporation. These options are exercisable on the grant date.

About Devonian
Devonian Health Group Inc. is a late stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs from plant materials and algae 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 US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings.  Devonian Health Group Inc. was incorporated in 2013 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’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSX Venture Exchange (TSXv:GSD).

For more information, visit www.groupedevonian.com.

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 21^st, 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

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Devonian Health Group Announces Notice of Allowance for a US Patent Application Covering use of Thykamine™ for the treatment of Ulcerative Colitis.

QUEBEC, June 15, 2020 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXv: GSD), a clinical stage botanical pharmaceutical corporation, focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, announced today that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. patent application No. 15/772,155, titled, “Thylakoid Extract Composition and Formulation for the Treatment of Inflammatory Bowel Disease,” covering the use of Thykamine™ for the treatment of Ulcerative Colitis.

” We are pleased with the USPTO’s Notice of Allowance as we continue the clinical development of Thykamine™ as an anti-inflammatory drug. This allowance is a great expansion of Thykamine™‘s patent estate. Devonian has filed corresponding patent applications that will allow the Company to seek similar patent protection in other key markets throughout the world” said Dr André P. Boulet, PhD, President, Chief Executive Officer and Chairman of the Board of Directors of the Corporation.

About Thykamine™
Thykamine™, the first pharmaceutical product issued from Devonian’s SUPREX™ platform, is a highly innovative product for the prevention and treatment of health conditions related to inflammation and oxidative stress including ulcerative colitis, atopic dermatitis, psoriasis, rheumatoid arthritis, and other autoimmune disorders. The anti-inflammatory, anti-oxidative and immunomodulatory properties of Thykamine™ have been demonstrated by a considerable number of in vitro and in vivo studies as well as in a Phase IIa clinical study in patients with mild-to-moderate distal ulcerative colitis. Thykamine™ is currently under development as treatment for ulcerative colitis and atopic dermatitis. Both Thykamine™ and SUPREX™ platform are protected by several patents in North America, Europe and Asia.

About Devonian
Devonian Health Group Inc. is a late stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs from plant materials and algae 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 US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings.  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’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSXV Exchange (TSXv:GSD).

For more information, visit www.groupedevonian.com

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 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 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 21^st, 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

The post Devonian Health Group Announces Notice of Allowance for a US Patent Application Covering use of Thykamine™ for the treatment of Ulcerative Colitis appeared first on DEVONIAN HEALTH GROUP INC..

Devonian Health Group announces completion of Enrollment in its Phase 2 Clinical Trial of Thykamine™ for the Treatment of mild-to-moderate Atopic Dermatitis in adult population.

• Last-patient-last-visit took place on June 3rd, 2020
• Top-line results expected to be reported in November 2020

QUEBEC, June 10, 2020 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXv: GSD), a clinical stage botanical pharmaceutical corporation, focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, announced today that it has completed the patient enrollment in its Phase 2 trial to evaluate the efficacy and safety of Thykamine™ for the treatment of mild-to-moderate atopic Dermatitis (“AD”) in adult patients. Top-line results for the trial are expected to be reported November 2020.

The Primary Objective of the study is to assess the efficacy of Thykamine™ cream 0.05%, 0.1% and 0.25% compared to placebo in the treatment of mild-to-moderate AD in adult population. This is being achieved through the assessment of primary and secondary endpoints.

• The primary endpoint of the study, to be reported, is the proportion of patients with an investigator global assessment (“IGA”) of clear (0), almost clear (1) at day 29 and with a decrease from baseline in IGA of at least 2 grades at day 29.
• Secondary endpoints of the study, to be reported include the change from baseline to day 29 in signs/symptoms score of AD including, in pruritus, in Eczema Area and Severity Index, in Body Surface Area, in Dermatology Life Quality Index and in Patient-Oriented Eczema Measure.

The Secondary objective of the study is to assess the safety of Thykamine™ cream 0.05%, 0.1% and 0.25% compared to placebo as measured by the incidence and severity of adverse events (systemic and local) and as a measure of safety and tolerability of treatment for up to 28 days.

“Today’s ‘Last-Patient-Last-visit’ announcement is a significant milestone for our Corporation. It completes another important step in our development of Thykamine™. As a result of the COVID-19 situation, the closing of all clinical sites (12) will take longer then what we expected but we should be on track to report top-line results in November 2020. Assuming these results are positive, we intend to present the full data set at an important scientific meeting in 2021 and file, to Health Canada, the protocol for a new phase 2 clinical trial in pediatric population for the same indication. ” said Dr André P. Boulet, PhD, President, Chief Executive Officer and Chairman of the Board of Directors of the Corporation.

 About Atopic Dermatitis (AD)
AD, also known as eczema, is a type of inflammation of the skin. It results in itchy, red, swollen, and cracked skin that may lead to secondary infection. The condition typically starts in childhood with changing severity over the years. Although the cause of AD is unknown, it is believed to involve genetics, a compromised immune system and can be triggered by environmental factors. AD is the most common skin disease¹ and its prevalence continues to increase worldwide. In the United States, the incidence has been reported to be 10-20% of children with new diagnoses at almost 11% per year². The severity of AD can be categorized into three stages, mild, moderate and severe. The mild and moderate forms constitute approximately 67% and 26% respectively of the AD childhood patient population. A similar distribution has been reported in the adult patient population (71% and 26% respectively) ^3,4. There is currently an enormous unmet need for new, effective and well-tolerated treatment options in AD⁵.

About Thykamine™
Thykamine™, the first pharmaceutical product issued from Devonian’s SUPREX™ platform, is a highly innovative product for the prevention and treatment of health conditions related to inflammation and oxidative stress including ulcerative colitis, atopic dermatitis, psoriasis, rheumatoid arthritis, and other autoimmune disorders. The anti-inflammatory, anti-oxidative and immunomodulatory properties of Thykamine™ have been demonstrated by a considerable number of in vitro and in vivo studies as well as in a Phase IIa clinical study in patients with mild-to-moderate distal ulcerative colitis. Thykamine™ is currently under development as treatment for ulcerative colitis and atopic dermatitis. Both Thykamine™ and SUPREX™ platform are protected by several patents in North America, Europe and Asia.

About Devonian
Devonian Health Group Inc. is a late stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs from plant materials and algae 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 US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings.  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’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSXV Exchange (TSXv:GSD).

For more information, visit www.groupedevonian.com

References

1. Peng W., Novak N. Pathogenesis of atopic dermatitis. Clinical et Experimental Allergy 2015, 45 : 566-574.
2. Eichenfield F, Ellis CN, Mancini AJ, Paller AS, Simpsom EL. Atopic Dermatitis: Epidemiology and Pathogeneses Update. Semin Cutan Med Surg 2012, Sep; 31 (3 Suppl): S3-5.
3. Silverberg JI, Simpson EL. Associations of childhood eczema severity: A US population based study. Dermatitis 2014; 25(3):107-114.
4. Chaplin S. Guide to treatments used for atopic dermatitis in adults. Prescriber 2016: 27(10): 30-39.
5. Leung DYM. Guttman-Yassky E. Assessing the current treatment of atopic dermatitis: Unmet needs. J. of Allergy and Clinical Immunology. 2017; 139(4) Suppl.: S47-48

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. Forward-looking statements contained in this press release including, without limitation, those related to (i) completion, results and disclosure of results within expected timeline of Phase 2 clinical trial of Thykamine™ for the treatment of mild-to-moderate AD in adult population; (ii) the expected next milestones following results of the study; and (iii) generally, the section above “About Devonian” which contains the Corporations’ 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. 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.

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 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 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 21^st, 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

The post Devonian Health Group announces completion of Enrollment in its Phase 2 Clinical Trial of Thykamine™ for the Treatment of mild-to-moderate Atopic Dermatitis in adult population appeared first on DEVONIAN HEALTH GROUP INC..

Devonian Health Group Announces Change to its Board of Directors.

QUEBEC, June 5, 2020 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXv: GSD), a clinical stage botanical pharmaceutical corporation, focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, is pleased to announce that Mr. Guy Dancosse has been appointed to the Corporation’s Board of Directors, effective immediately. The Corporations also announces the departure of Mr. Borys Chabursky from its Board of Directors.

“It is my great pleasure to welcome Guy to the Board,” said Dr André P. Boulet, President, Chief Executive Officer and Chairman of the Board of Directors of the Corporation. “Guy brings many years of experience to our Board. His business acumen will serve the Board well. I look forward to working with him in the years to come. I also want to thank outgoing Board member, Borys Chabursky, for his contribution and service to the Board over the last years.”

Guy Dancosse has extensive experience in Commercial Arbitration, both nationally and internationally, in many areas of business, including the public sector. He is part of the International Chamber of Commerce’s {ICC Paris) Canadian Panel of Commercial Arbitrators, and has pleaded before all Canadian Tribunals, including the Supreme Court of Canada. Further, he has headed Task Forces and Inquiry Commissions in Canada on matters regarding naval pilotage in the St-Lawrence river and Native Land claims. He also presided on international missions for World Bank, inter alia in Tchad, and in Tanzania. Mr. Dancosse is intricately familiar with the Cannabis legal framework and commercial environment in Canada, and good corporate management therein. He also sits on the Board of Directors of numerous private and public companies and has extensive experience as a Corporate Director.

‘‘I’m pleased to join Devonian’s Board of Directors. I plan to add a valuable perspective to Devonian’s business plan as it continues moving ahead to execute its strategy, drive profitability and enhance value for all its shareholders’’ said Mr. Guy Dancosse.

About Devonian

Devonian Health Group Inc. is a late stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs from plant materials and algae 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 US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings.  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’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSXV Exchange (TSXv:GSD).

For more information, visit www.groupedevonian.com

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 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 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 21^st, 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

The post Devonian Health Group Announces Change to its Board of Directors appeared first on DEVONIAN HEALTH GROUP INC..

Devonian Health Group Announces an Exclusive Strategic Alliance with CannTx Life Sciences for the development of Cannabinoid-based Pharmaceutical Drugs.

• Combination of Devonian’s Botanical Drug expertise with CannTx Life Sciences’s micropropagation technology and know-how for the development of World Class Cannabinoid-based Pharmaceutical drugs.
• Strategic Alliance to be rolled into a separate legal entity within the next 12 months.

QUEBEC, June 4, 2020 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXv: GSD), a clinical stage botanical pharmaceutical company, focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, today announced a Strategic Alliance with CannTx Life Sciences Inc. (“CannTx”), a privately-owned cannabis producer licensed by Health Canada under the Cannabis Act.

Under the terms of the agreement, the Parties have formed a Strategic Alliance to cooperate in the research, development, manufacturing and commercialization of pharmaceutical products derived from cannabinoids. CannTx has granted the  worldwide exclusivity to its micropropagation technologies and know-how and to its Steadystem for germplasm validation for the development of botanical drug products, with human and veterinary applications, as defined by the US Food and Drug Administration/Botanical Drugs Regulations and on a non-exclusive basis for all other sectors, including the agricultural. Under similar terms, Devonian has granted exclusive access to its pharmaceutical expertise and platform, its Cannabis Research License, and drug development knowledge for the development of the cannabinoid-based Pharmaceutical Products and on a non-exclusive basis for all other sectors. It is expected that the Strategic Alliance will be rolled into a Limited Partnership, or any other legal entity, within the next 12 months.

“Over the past two (2) years, our company has evaluated several cannabis facilities in order to find a supplier of pharmaceutical-grade cannabis. CannTx, with its expertise in tissue culture and micropropagation technology is the ideal strategic partner to help us launch our cannabinoid-based Pharmaceutical Program. Devonian will now have access to raw material with consistent cannabinoid profile, both within and between batches, essential in a Pharmaceutical Drug Development Program. We’ll be working closely with CannTx to implement pharmaceutical Standard Operating Procedures (SOPs). These SOPs will allow us to control, document, and perform product identification and traceability, from the plant’s genetic profile, to the cannabinoids’ content associated with it and to the final pharmaceutical product.” said Dr André P. Boulet, PhD. President and CEO of the Company.

“We are thankful to the Investment Advisory firm, Keira Capital Partners Inc., for their assistance in this transaction,” added Dr  Boulet.

‘‘The announcement of this relationship is further evidence that CannTx and in particular our medical brand Bower is realizing its vision to bring confidence to Cannabis. Our same technological platform that ensures consistent and quality products for cannabis patients and recreational consumers, is the same basis for producing standardized Active Pharmaceutical Ingredients to support novel therapeutics with global markets. Our Steadystem germplasm validation program is an evidenced-based approach to not only discovering unique cannabis metabolomes, but also ensures that a reliable and competitive manufacturing supply chain can be built to support the commercialization of Devonian’s innovative drug discovery efforts. This agreement is another fine example that CannTx Life Sciences, operating as a private company, has developed a owner operated leadership team that continues to demonstrate the ability to successfully produce premium quality cannabis while focusing on ‘the science of cannabis’. I am proud to be a member of this dynamic team.,” said Mike Abbott, President/CEO and Co-Founder.

About CannTx Life Sciences Inc.

CannTx Life Sciences Inc. is a privately-owned cannabis producer, with exceptional biotechnology and horticulture capabilities. Founded in 2013, CannTx operates a 30,000 sq ft. facility, just South of Guelph ON, under both a Standard Cultivation and Standard Processing authorization from Health Canada. CannTx benefits from its collaboration with the University of Guelph. CannTx operates a commercial-scale in vitro plant tissue culture lab, a Biosafety Laboratory Level 2 microbiology lab, 8 precision-controlled growth environs for flower production, and a photobiology lab for crop optimization.

CannTx’s tissue culture capabilities diversify its revenue opportunities through its Steadystem Solutions division, providing germplasm cleaning, validation, storage, and propagation services to other cannabis cultivators and breeders. Leveraging local analytics services providers, paired with CannTx efficient and productive cannabis cultivation operations, and its growing in vitro library of clean strains, CannTx is uniquely positioned to provide the most robust suite of germplasm validation services, and a superior platform for germplasm commercialization.

About Devonian

Devonian Health Group Inc. is a late stage botanical pharmaceutical company with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs from plant materials and algae 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 US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings.  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’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSXV Exchange (TSXv:GSD).

For more information, visit www.groupedevonian.com

About Keira Capital Partners Inc.

Keira Capital is registered, regulated and supervised by “Autorité des Marchés Financiers of Quebec” as an Exempted Market Dealer and is also registered with Ontario, Alberta, and British Columbia Securities Commissions. Keira focuses on transactions, both nationally and internationally, with the help of a team of innovative professionals, all of whom have significant experience in business and financial transactions. Keira is also the exclusive Canadian representative of the CDI Global network, linking Keira with fifty offices providing corporate finance and M&A services in 30 economic centers across the globe.

For more information, visit www.keiracapital.com

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 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 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 21^st, 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

The post Devonian Health Group Announces an Exclusive Strategic Alliance with CannTx Life Sciences for the development of Cannabinoid-based Pharmaceutical Drugs appeared first on DEVONIAN HEALTH GROUP INC..

Devonian Health Group Announces the nomination of Dr André P. Boulet to the American Botanical Drug Association.

• Dr Boulet to represent Canada within the organization

QUEBEC, May 21^st, 2020 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXv: GSD), a clinical stage botanical pharmaceutical corporation, focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, announced today the nomination of Dr Andre P. Boulet, PhD, as representative of Canada within the American Botanical Drug Association (ABDA).

“I am honored to join the American Botanical Drug Association. Until 2018, the US-FDA has received over 800 botanical investigational new drug applications (IND)¹. It can be anticipated that, in coming years, more Botanical Drugs will be approved in the USA with collateral benefits for Canadians patients. I look forward to contributing to ABDA and to the Botanical Drug field” said Dr Boulet, President and Chief Executive Officer of Devonian.

“Dr. Boulet is a pioneer in botanical drug field. His vision about the botanical drug industry goes back to year 2007 when the US FDA botanical drug guidance was rarely known by pharmaceutical professionals. Over the years, Dr. Boulet has put his vision to action and developed a leading botanical drug corporation in Canada.  We (ABDA) recognize his contribution and his leadership and we are delighted to have him join us to develop this emerging industry”, said Dr Roger Luo, PhD, Chairman of the American Botanical Drug Association.

About the American Botanical Drug Association (ABDA).

American Botanical Drug Association is an industry trade organization for worldwide herbal manufactures and companies, with a mission to:

• Increase public awareness of botanical drugs
• Increase options in the healthcare system
• Facilitate healthcare policy formation
• Serve as a platform for dialogues and collaboration among government agencies, private enteritis, and academics, by means of conferences and meetings
• Promote collaboration between the pharmaceutical industry and the botanical and herbal industry
• Establish international standards for botanical drugs and its medical usage

ABDA collaborates with research institutes and companies to develop safe and efficacious herbal medicine to US prescription botanical drugs through US FDA botanical Drug Development Guidance for Industry. ABDA has built significant influence in the field of botanical drug industry not only in the US, but also in areas with rich botanical resources like Asia. ABDA is expending to South American, Africa and Europe.

For more information, visit  www.BotanicalDrug.org

About Devonian

Devonian Health Group Inc. is a late stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs from plant materials and algae 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 US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings.  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’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSXV Exchange (TSXv:GSD).

For more information, visit www.groupedevonian.com

Reference

1. Wu C., Lee S-L, Taylo, C. rt al. Scientific and Regulatory Approach to Botanical Drug development : A U.S. FDA Perspective, J. Nat. Prod. 2020, 83, 552-562

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 21^st, 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

The post Devonian Health Group Announces the nomination of Dr André P. Boulet to the American Botanical Drug Association appeared first on DEVONIAN HEALTH GROUP INC..

Devonian Health Group Announces the Closing of $1,805,000 Non-Brokered Financing.

QUÉBEC CITY, May 4, 2020 – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXV: GSD), a clinical stage botanical pharmaceutical corporation focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, announces the closing of a non-brokered private placement (the “Offering”) for an aggregate gross proceeds of $1,805,000. The Offering was previously announced in the press releases issued on April 22 and April 24, 2020.

The Offering includes the following:

• the issuance of 1,188,887 units of the Corporation (each, a “First Offering Unit”), at a price of $0.15 per First Offering Unit, for an aggregate gross proceeds of $178,333 (the “First Offering”) and 804,235 units of the Corporation (each, a “Second Offering Unit” and collectively with the First Offering Unit, the “Offering Units”), at a price of $0.1575 per Second Offering Unit, for an aggregate gross proceeds of $126,667 (the “SecondOffering”). Each First Offering Unit subscribed for under the First Offering is comprised of one Subordinate Voting Share of the Corporation (a “Subordinate Voting Share”) and one warrant (a “First Offering Warrant”). Each First Offering Warrant shall entitle the holder thereof to subscribe for one Subordinate Voting Share, at a price of $0.25 per Subordinate Voting Share, for a period of 24 months following the closing of the Offering, subject to acceleration provision. Each Second Offering Unit subscribed for under the Second Offering is comprised of one Subordinate Voting Share and one warrant (a “Second Offering Warrant”). Each Second Offering Warrant shall entitle the holder thereof to subscribe for one Subordinate Voting Share, at a price of $0.25 per Subordinate Voting Share, for a period of 24 months following the closing of the Offering, subject to acceleration provision. For more details, please refer to the press release dated April 22, 2020, published on SEDAR at www.sedar.com.
• the issuance of 10,000,000 Subordinate Voting Shares in the capital of the Corporation, at a price of $0.15 per Subordinate Voting Share, for an aggregate gross proceeds of $1,500,000.

The issuance of the Offering Units and the Subordinate Voting Shares is conditional to the approval of the TSX Venture Exchange and will be subject to a hold period of four months and one day.

Moreover, a mistake was noticed in the press release dated April 22, 2020, The subscription of Mr. Tarique Saiyed is for an amount of $170,000 or 1,093,122 Offering Units and not $200,000 or 1,283,599 Offering Units as previously announced.

This press release does not constitute an offer of securities for sale in the United States or to “U.S. persons” (“U.S. persons”), as such term is defined in Regulations promulgated under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.

About Devonian

Devonian Health Group Inc. is a late stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription botanical drugs from plant materials and algae 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 US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings.  Devonian Health Group Inc. was incorporated in 2013 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’. Acquired in 2018, Altius Healthcare Inc., its commercialization partner, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSXV Exchange (TSXV:GSD).

For more information, visit www.groupedevonian.com.

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 21^st, 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

The post Devonian Health Group Announces the Closing of $1,805,000 Non-Brokered Financing appeared first on DEVONIAN HEALTH GROUP INC..