QUEBEC CITY, April 15, 2025--(BUSINESS WIRE)--Devonian Health Group Inc. ("Devonian" or the "Company") (TSXV: GSD; OTCQB: DVHGF), announces that the Autorité des Marchés Financiers (the "AMF") has issued a failure to file cease trade order ("FFCTO") under Policy Statement 11-207 Respecting Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, prohibiting the trading by any person of any securities of the Company in Canada, including trades in the Company’s common shares made through the TSX Venture Exchange (the "Exchange").
The FFCTO was issued as a result of the delay in filing the Company’s interim financial statements for the fiscal period ended January 31, 2025, its management’s discussion and analysis for the fiscal period ended January 31, 2025, and related filings (collectively, the "Required Interim Filings"). Under Regulation 51-102 respecting Continuous Disclosure Obligations, the Required Annual Filings were required to be made no later than April 1, 2025. The FFCTO will remain in place until such time as the Required Annual Filings, along with any additional filings which may be required at such time, are filed and the AMF subsequently revokes the FFCTO.
As a result of the FFCTO, trading in the Company’s securities on the Exchange has also been suspended effective as of April 8, 2025. Reinstatement to trading will occur only when the FFCTO is revoked, and the Exchange has concluded its reinstatement review to ensure the Company has satisfactorily complied with Exchange requirements.
The Company will continue to operate in the normal course of business, fulfilling its commercial contracts and obligations and intends to immediately apply for a revocation of FFCTO as soon as its Required Interim Filings are duly filed.
About Devonian
Devonian Health Group Inc. 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 U.S. Food and Drug Administration 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 Group L.P., 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 to FFCTO, the revocation of the FFCTO by the AMF, if any, the filling, in due time, if any, by the Company of its Interim Required Fillings, 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.
