Deveron Corp. announced a a non brokered private placement to issue 9% 2,000 unsecured convertible debentures at an issue price of CAD 1,000 per debenture for the gross proceeds of CAD 2,000,000 on September 25, 2023. The Debentures will mature three years following the date of issuance and will bear interest at an interest rate of 9% per annum, payable semi-annually in arrears in cash.

The holder of a Debenture will have the right, from time to time and at any time after first year anniversary of the date of issuance, to the Maturity Date, to convert all or any portion of the outstanding principal amount into common shares, at a conversion price of CAD 0.42 per Common Share,subject to adjustment as herein provided. In connection with the Offering, the Company may pay a cash finder?s fees of up to 7.0% of the gross proceeds of the Offering and/or may issue up to such number of finder?s warrants equal to 7.0% of the gross proceeds of the Offering divided by the Conversion Price, with each Finder Warrant being exercisable to acquire one Common Share at a price of CAD 0.42 per Common Share until the date that is twelve months from the date of issuance. The Offering is anticipated to close on or about October 2, 2023, and is subject to customary closing conditions and approvals of applicable securities regulatory authorities, including the Exchange.