QUEBEC CITY, April 28, 2025--(BUSINESS WIRE)--Devonian Health Group Inc. ("Devonian" or the "Company") (TSXV: GSD; OTCQB: DVHGF), announced that the TSX Venture Exchange (the "Exchange") has approved its application for reinstatement of trading of the Company's common shares on the Exchange effective April 30, 2025. This follows the successful resolution of the Failure-to-File Cease Trade Order (the "FFCTO") issued by the Autorité des marchés financiers (the "AMF") on April 7, 2025, and revoked on April 16, 2025.
The FFCTO was issued as a result of the delay in filing the Company’s interim financial statements for the fiscal quarter ended January 31, 2025, its management’s discussion and analysis for the fiscal quarter ended January 31, 2025, and related filings (collectively, the "Required Interim Filings"). The Company filed the Required Interim Filings on April 15, 2025, upon which to the AMF had the FFCTO revoked on which the Exchange allowed the Company’s common shares to resume trading.
The Company acknowledges and appreciates the patience of its shareholders and stakeholders during this process and reaffirms its commitment to adhering to high standards of compliance and corporate governance.
About Devonian
Devonian Health Group 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 US FDA set of regulatory guidelines favoring 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 also owns a commercialization subsidiary, Altius Healthcare Inc., focused on selling prescription pharmaceutical products in Canada, under license from brand name pharmaceutical companies.
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 Exchange (TSXV: GSD) and on OTCQB exchange (OTCQB: DVHGF).
All statements, other than statements of historical fact, contained in this press release including, but not limited to those relating, the timing of reinstatement of the common shares on the Exchange, and, generally, the above "About Devonian" and "About Altius" paragraphs, which essentially describes the Company’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.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company 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.
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 Company 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.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Devonian Health Group Inc. Mr. Luc Grégoire President and Chief Executive Officer Dr. André Boulet Chairman, Chief Operating Officer and Chief Scientific Officer
