Devonian Health Group Announces Change to its Board of Directors

For immediate release

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).

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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 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.


Dr. André P. Boulet, PhD
President and Chief Executive Officer
Devonian Health Group Inc.
Telephone: (514) 248-7509