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 stat ...

- -- Devonian reports additional molecular data from MASH liver study [Accessibility Statement] Skip NavigationGene expression analysis from the STAM mouse model attributes Thykamineâ"¢ with dose- dependent anti-MASH, anti-inflammatory and anti-fibrosis molecular effects in liverQUÉBEC, Feb. 12, 2026 /PRNewswire/ - Devonian Health Group Inc. ("Devonian" or the "Company") (TSXV: GSD) (OTCQB: DVHGF), a clinical stage corporation focused on developing unique solutions to fibroinflammatory diseases, today annou ...

Core Insights - Devonian Health Group Inc. reported positive results from a study on Thykamine™, demonstrating its potential as an antifibrotic treatment for pulmonary fibrosis, particularly in comparison to Pirfenidone [1][2] Company Overview - Devonian Health Group Inc. is a clinical-stage pharmaceutical company focused on developing drugs for autoimmune fibroinflammatory conditions, leveraging over 15 years of research [2] - The company is headquartered in Québec, Canada, and is publicly traded on the TSX Venture Exchange (TSXV: GSD) and OTCQB (OTCQB: DVHGF) [2] Study Findings - The study utilized a bleomycin-induced pulmonary fibrosis mouse model, showing that Thykamine™ at a dose of 0.5 mg/kg significantly reduced lung wet weight and tissue index compared to the control group [1] - Thykamine™ treatment resulted in a statistically significant reduction in fibrosis and inflammation scores, indicating an improvement in lung morphology [1] - Key fibrosis- and inflammation-associated genes were downregulated with Thykamine™ treatment, suggesting controlled matrix remodeling and reduced fibrotic progression [1] Market Context - Pulmonary fibrosis, especially idiopathic pulmonary fibrosis (IPF), is a chronic and progressive disease with a poor prognosis, highlighting the urgent need for effective therapies [1] - The incidence and prevalence of IPF are increasing globally, driven by aging populations and improved diagnostic awareness, creating a significant unmet medical need [1] Product Information - Thykamine™, developed from Devonian's SUPREX™ platform, is positioned as a next-generation therapeutic candidate with potential applications in various fibroinflammatory diseases [1] - The product has demonstrated anti-inflammatory, anti-oxidative, and immunomodulatory properties in multiple studies, including a Phase IIa clinical study for ulcerative colitis and a Phase II study for atopic dermatitis [1][2]

QUÉBEC, Feb. 2, 2026 /PRNewswire/ - Devonian Health Group Inc. ("Devonian" or the "Company") (TSXV: GSD) (OTCQB: DVHGF), a clinical stage corporation focused on developing unique solutions to fibroinflammatory diseases, is pleased to announce that it has appointed Dennis Turpin as Chief Financial Officer of the Company, effective today. Mr. Turpin currently serves and will remain on the Board of Directors of the Company. Before his appointment as Chief Financial Officer, he also served as Chair of the Audit ...

Core Insights - Devonian Health Group Inc. has published a peer-reviewed article in Biomedicines highlighting the anti-inflammatory properties of its lead pharmaceutical candidate, Thykamine™ [1][2] - The study demonstrates that Thykamine™ exhibits greater potency in inhibiting inflammatory markers compared to six widely prescribed anti-inflammatory drugs [3][4] - Thykamine™ is positioned as a promising candidate for treating chronic inflammatory conditions due to its favorable safety profile and multi-target efficacy [4][6] Company Overview - Devonian Health Group Inc. specializes in developing prescription drugs for fibroinflammatory diseases and has a focus on unmet medical needs in autoimmune inflammatory conditions [10] - The company’s first pharmaceutical product, Thykamine™, is derived from its SUPREX™ platform and has shown efficacy in treating conditions like ulcerative colitis and atopic dermatitis [8][10] - Devonian is publicly traded on the TSX Venture Exchange and OTCQB Venture Market, and it operates a state-of-the-art extraction facility in Québec, Canada [12]

Core Viewpoint - Devonian Health Group Inc. is actively engaging with institutional investors and has announced a non-brokered private placement to support its operations and research activities [1][4][5]. Group 1: Company Presentation - Dr. André Boulet, the Chairman and CEO of Devonian, will present at the ThinkEquity Conference on October 30, 2025 [1][8]. - The conference aims to connect institutional investors, analysts, and growth-oriented companies for presentations and networking [2]. Group 2: Private Placement Details - Devonian has completed a non-brokered private placement, raising gross proceeds of $334,500.33 through the issuance of 1,967,649 units at a price of $0.17 per unit [4][5]. - Each unit consists of one common share and one share purchase warrant, with the warrant allowing the purchase of one share at the same price for 24 months [4][6]. - The funds raised will primarily be allocated to working capital for corporate overhead and research and development activities [5]. Group 3: Regulatory and Financial Information - A cash finder's fee of $14,166.68 was paid in connection with the offering, and the issued shares and warrants are subject to a four-month hold period ending on February 23, 2026 [6]. - The offering is pending final approval from the TSX Venture Exchange [6].

Financial Performance - For the three months ended September 30, 2023, the company reported a net loss of $265,547, primarily due to operating costs of $353,194 and provision for income taxes of $29,918, partially offset by interest earned from the Trust Account of $117,565 [160]. - For the nine months ended September 30, 2023, the company reported a net loss of $670,061, primarily due to operating costs of $1,357,955 and income tax provisions of $172,730, partially offset by interest earned from the Trust Account of $860,624 [161]. - Cash used in operating activities for the nine months ended September 30, 2023, was $323,054, with a net loss impacted by interest earned from the Trust Account and changes in operating assets and liabilities providing $1,207,631 [164]. - As of September 30, 2023, the company had no cash in its operating bank account and a working capital deficit of approximately $4,717,286 [168]. - The company has no long-term debt or off-balance sheet financing arrangements as of September 30, 2023 [172]. Business Combination and Governance - The company has extended the deadline to complete a business combination from August 9, 2023, to February 9, 2024, allowing for up to six additional months for completion [156]. - The company entered into a Business Combination Agreement with DarkPulse, Inc., which will be executed through a merger, with DarkPulse becoming a wholly owned subsidiary [150]. - The company’s sponsor, DarkPulse, aims to leverage the business combination to access new capital sources and enhance market visibility [145]. - The company has issued notes to the sponsor totaling $1,049,248, with additional smaller amounts, to extend the termination date for the business combination [149]. - The company has until December 9, 2023, to consummate a Business Combination, with substantial doubt about its ability to continue as a going concern if not completed [171]. - The company has undergone changes in its board of directors, with new appointments and resignations impacting governance [142][144]. Shareholder Actions and Meetings - Approximately 87% of outstanding Public Shares were redeemed for cash at a redemption price of approximately $10.42 per share, totaling an aggregate redemption amount of approximately $95,356,719 [154]. - Following the first extension, approximately $14,128,405 remained in trust with 1,343,154 Public Shares outstanding [154]. - A total of 10,079,383 shares (75.64%) were present at the Special Meeting to approve the extension amendment, with over 65% voting in favor [151]. Costs and Expenses - Transaction costs related to the IPO and partial over-allotment amounted to $6,265,859, including $3,672,368 of deferred underwriting commissions [167]. - The company plans to continue incurring monthly fees of $10,000 for general and administrative services until the completion of the initial Business Combination or liquidation [174]. - As of September 30, 2023, there are no Working Capital Loans outstanding, but there are non-interest-bearing advances due to the Sponsor amounting to $841,818 [169].

Financial Performance - For the three months ended June 30, 2023, the company reported a net loss of $295,396, primarily due to operating costs of $426,089 and provision for income taxes of $26,287, partially offset by interest earned from the Trust Account of $156,980 [160]. - For the six months ended June 30, 2023, the company reported a net loss of $404,514, primarily due to operating costs of $1,004,761 and income tax provisions of $142,812, partially offset by interest earned from the Trust Account of $743,059 [161]. - Cash used in operating activities for the six months ended June 30, 2023, was $323,000, with a net loss impacted by interest earned from the Trust Account and changes in operating assets and liabilities providing $824,573 [164]. - As of June 30, 2023, the company had a working capital deficit of approximately $4,095,576 and only $53 in cash in its operating bank account [168]. - The company has no long-term debt or off-balance sheet financing arrangements as of June 30, 2023 [172]. - The company will not generate any operating revenues until after the completion of its initial Business Combination [163]. Business Combination - The company has extended the deadline to complete a business combination from August 9, 2023, to February 9, 2024, allowing for up to six additional months for completion [156]. - The company entered into a Business Combination Agreement with DarkPulse, Inc., which will be executed through a merger, with DarkPulse becoming a wholly owned subsidiary [150]. - A total of 10,079,383 shares (75.64%) voted in favor of extending the time to complete a business combination, with more than 65% voting for approval [151]. - The company has until December 9, 2023, to consummate a Business Combination, with substantial doubt about its ability to continue as a going concern if this is not achieved [171]. Financial Arrangements - The company has issued notes to the sponsor totaling $1,049,248, with additional smaller amounts, to extend the termination date for the Business Combination [149]. - The company issued a Convertible Promissory Note of $1,150,000 to the New Sponsor, with $1,049,248 borrowed under this loan as of June 30, 2023 [175]. - Monthly fees of $10,000 are payable to the New Sponsor for general and administrative services until the completion of the initial Business Combination or liquidation [174]. Shareholder Actions - Approximately 87% of outstanding Public Shares were redeemed for cash at a redemption price of approximately $10.42 per share, totaling an aggregate redemption amount of approximately $95,356,719 [154]. - Following the first extension, approximately $14,128,405 remained in trust with 1,343,154 Public Shares outstanding [154]. Strategic Focus - The company’s sponsor, DarkPulse, aims to leverage the business combination to access new capital sources and enhance market visibility [145]. - The company is focusing on industries that complement its management team's background, particularly in farming and national security sectors [139]. Transaction Costs - Transaction costs related to the IPO and partial over-allotment amounted to $6,265,859, including $3,672,368 of deferred underwriting commissions [167]. - Cash provided by investing activities was $95,251,557, primarily from interest withdrawal from the Trust Account [164].

Financial Position - As of March 31, 2023, total assets amounted to $14,491,687, a significant decrease from $109,158,375 as of December 31, 2022[15] - Total current liabilities rose to $3,700,387 as of March 31, 2023, compared to $1,947,671 as of December 31, 2022, representing an increase of 89.9%[15] - The company had a stockholders' deficit of $6,885,886 as of March 31, 2023, compared to a deficit of $5,216,953 as of December 31, 2022, reflecting an increase in the deficit[15] - As of March 31, 2023, the Company reported a working capital deficit of approximately $3.21 million, with only $485 in cash available[51] - As of March 31, 2023, the Company had $14,411,751 in the Trust Account, down from $109,099,978 as of December 31, 2022[65] Operating Performance - The company reported a net loss of $109,118 for the three months ended March 31, 2023, compared to a net loss of $388,604 for the same period in 2022, indicating a reduction in losses[17] - Operating costs increased to $578,672 for the three months ended March 31, 2023, up from $391,244 in the same period of 2022, reflecting a 47.9% increase[17] - The basic and diluted net loss per Class A redeemable share was $0.02 for the three months ended March 31, 2023, compared to $0.03 for the same period in 2022[17] - The company generated net cash used in operating activities of $93,476 for the three months ended March 31, 2023, compared to $459,410 for the same period in 2022, indicating improved cash management[24] Trust Account and Investments - The Company has $107,023,296 deposited in a Trust Account, which is invested in U.S. government securities[35] - The Company has outstanding obligations of $1,049,248 under a Convertible Promissory Note for an extension of the business combination deadline[53] Business Combination and Extensions - The Company extended the deadline to complete a Business Combination by up to six months, now due by August 9, 2023[36] - The Company must complete a Business Combination with a fair market value of at least 80% of the assets held in the Trust Account[34] - The Company has until September 9, 2023, or February 9, 2024, to complete a Business Combination, with substantial doubt about its ability to continue as a going concern if not completed by these dates[54] - Stockholders voted to approve a Second Extension Amendment, allowing the Company to extend the deadline for completing a business combination up to six additional months, until February 9, 2024[137][138] Shareholder Activity - The Company redeemed 9,149,326 Public Shares for a total of $95,356,719 on January 31, 2023[62] - Approximately 65% of outstanding Public Shares were redeemed for cash at a price of approximately $10.97 per share, totaling an aggregate redemption amount of approximately $9,501,728[139] - Stockholders holding 866,088 Public Shares (approximately 65% of outstanding Public Shares) redeemed their shares for cash at a redemption price of approximately $10.97 per share, totaling approximately $9,501,728[162] Internal Controls and Compliance - Management identified material weaknesses in internal control over financial reporting, including inadequate segregation of duties and insufficient written policies[182] - The Company plans to enhance internal controls by appointing additional qualified personnel and adopting sufficient written policies during the fiscal year ending December 31, 2023[183] - The Company’s disclosure controls and procedures were deemed ineffective due to material weaknesses in internal control over financial reporting[181] IPO and Financing - The Company completed its IPO on August 9, 2021, raising gross proceeds of $100 million from the sale of 10,000,000 units at $10.00 per unit[30] - The Company incurred transaction costs related to the IPO totaling $6,265,859, which included deferred underwriting commissions and other offering costs[32] - The underwriters are entitled to a deferred underwriting discount of $0.35 per unit, totaling $3,672,368, payable only if the Company completes a Business Combination[94] Tax and Legal Matters - The Company recorded an excise tax liability of $953,567 as of March 31, 2023, calculated as 1% of shares redeemed[62] - The Company had no unrecognized tax benefits and no amounts accrued for interest and penalties related to unrecognized tax benefits[75] - The Company has not disclosed any legal proceedings as of the date of the report[186]

IPO and Trust Account - The Company completed its IPO on August 9, 2021, raising gross proceeds of $100 million from the sale of 10,000,000 units at $10.00 per unit[103]. - Following the IPO, $107,023,296 was deposited in a Trust Account, which is invested in U.S. government securities[107]. - The Company must complete an Initial Business Combination with a fair market value of at least 80% of the assets held in the Trust Account[106]. - The Company has broad discretion in applying the net proceeds from the IPO, primarily towards the Initial Business Combination[106]. - The amount in the Trust Account was approximately $10.39 per public share as of January 31, 2023, and approximately $10.43 as of March 31, 2023[212]. - The Trust Account must have net tangible assets of at least $5,000,001 at the time of the Initial Business Combination, which cannot be waived[250]. Business Combination Agreement (BCA) - The company entered into a Business Combination Agreement (BCA) with DarkPulse, with an Equity Value of $116,518,357.65[133]. - The BCA includes customary representations and warranties, and the parties are bound by certain covenants during the period leading to the closing[139]. - The company must have at least $5,000,001 of net tangible assets immediately after the Effective Time as a condition for the Business Combination[141]. - The BCA may be terminated at any time after the Termination Date of August 9, 2023, unless extended[270]. - The BCA restricts the ability to enter into a business combination with another party, potentially disadvantaging the company in finding alternative targets[274]. Redemption and Stockholder Rights - The Company will provide public stockholders the opportunity to redeem shares at approximately $10.20 per share upon completion of the Initial Business Combination[108]. - Approximately 87% of outstanding Public Shares (9,149,326 shares) were redeemed at a price of approximately $10.39 per share, totaling an aggregate redemption amount of approximately $95,061,497[148]. - Following redemptions, approximately $14,038,481 remained in trust, with 1,343,154 Public Shares still outstanding[148]. - Public stockholders are restricted from seeking redemption rights for more than 15% of the shares sold in the IPO without prior consent[222]. - If the Initial Business Combination is not completed, public stockholders who elected to redeem their shares will not be entitled to redeem them for a pro rata share of the Trust Account[228]. Financial Position and Funding - The company has no operating revenues and is classified as a "shell company" with nominal assets primarily in cash[100]. - The company has issued notes to the Sponsor totaling $1,049,248, with repayment due upon consummation of the Business Combination[131]. - As of April 30, 2023, the company has non-interest-bearing advances due to the New Sponsor amounting to $998,677[132]. - The company may seek additional funds through a private offering of debt or equity securities to complete its Initial Business Combination[192]. - The company expects to fund costs associated with dissolution from remaining proceeds outside the Trust Account, but cannot assure sufficient funds will be available[235]. Management and Governance - The Compensation Committee has agreed to compensate the sole executive officer and board members with $10,000 monthly starting October 2022[126]. - Indemnity agreements have been established to protect officers and directors, which may discourage stockholder lawsuits against them[128]. - The company is classified as an "emerging growth company," allowing it to take advantage of certain exemptions from reporting requirements[258]. - The company will remain an emerging growth company until it meets specific revenue or market value thresholds, including total annual gross revenue of at least $1.235 billion[260]. - The company has no current intention of suspending its reporting obligations under the Exchange Act prior to or after the Initial Business Combination[257]. Acquisition Strategy - The company aims to acquire businesses in the farming and national securities industries, with a minimum fair value requirement of $82 million for target businesses[157]. - The management team has developed a broad network of contacts to identify potential acquisition opportunities in the farming and agricultural sectors[168]. - Over 50 potential target companies were evaluated from the IPO closing in August 2021 until the Sponsor's sale of interests in October 2022[170]. - The Board approved developing criteria for merger candidates that include both the farming and national security industries[175]. - The company intends to focus its search for an Initial Business Combination in a single industry, which may limit diversification[200]. Compliance and Regulatory Issues - The company is subject to competition from other entities with similar business objectives, which may limit its ability to acquire larger target businesses[251]. - Nasdaq notified the company of a deficiency due to the Market Value of Listed Securities (MVLS) being below the $35 million minimum requirement for 30 consecutive business days[286]. - The company has until October 2, 2023, to regain compliance with the MVLS requirement, with the possibility of extending this compliance date[287]. - The company may face significant adverse consequences if it fails to meet continued listing requirements, including limited market quotations and decreased ability to issue additional securities[292]. - The company is required to evaluate its internal control procedures for the fiscal year ending December 31, 2022, as mandated by the Sarbanes-Oxley Act[257].