- Agricultural technology company Deveron (DVR) has been approved to list on the TSX Venture Exchange (TSXV)
- The company will list on the TSXV as a Tier 2 issuer, under the ticker code FARM
- Deveron believes that this change in exchange will increase the company’s value as the business continues to mature
- The company’s common shares will begin trading on the TSXV on September 21, 2020
- Deveron (DVR) is up 9.80 per cent and is currently trading at C$0.28 per share
Agricultural technology company Deveron (DVR) has been approved to list on the TSX Venture Exchange (TSXV).
The TSXV has approved the company’s listing as a Tier 2 issuer. Deveron will begin trading its common shares on the TSXV on September 21, 2020, under the new ticker code FARM.
The company believes that moving to a new exchange will increase the company’s value, as the business pursues growth and maturity in its operations.
In related news, Deveron’s board of directors has recently adopted a new stock option plan. The maximum number of common shares issuable under the new plan may not exceed ten per cent of the issued and outstanding common shares in Deveron, as of the plan’s date of grant.
Based on the currently outstanding common shares, 5,175,033 options may be granted through the 2020 stock option plan.
Deveron’s President and CEO, David MacMillan, said the company was incredibly grateful to commence trading on Canada’s leading exchange.
“Over the last four years, we have consistently grown our customer base and influence in helping farmers and agribusiness throughout North America collect reliable data through our turn-key networks of technicians that visit thousands of farm fields every year, collecting soil, drone, and other types of field data.
“Additionally, our investment in our data insights division continues to provide standardised interpretation and value-add recommendations on how to increase yield, reduce costs, and improve farm outcomes, using the exponentially growing data sets that are generated on farms today,” he said.
Deveron (DVR) is up 9.80 per cent and trading at $0.28 per share at 11:15am EDT.