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Devonian Health Group Inc
360 rue des Entrepreneurs
Phone: (514) 248-7509p:514 248-7509 MONTMAGNY, QC  G5V 4T1  Canada Ticker: GSDGSD

Devonian Announces the Issuance of Units in Settlement of Interests Owed to Debenture Holders


QUEBEC CITY, March 5 -- Devonian Health Group Inc. issued the following news release:

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 issuance of the following units in settlement of interests owed to holders of debenture issued in the private placement, as announced by press releases dated July 19, 2018 and August 31, 2018:

* 150,278 units at a unit price of $ 0.23 (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 interests due on February 28, 2021 for an aggregate amount of $ 34,564. 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 $ 0.30 for a period of 48 months.

The issuance of the 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.

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.

Source: Devonian Health Group Inc.

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