Mr. Brian Pedlar reports

COVALON ANNOUNCES CONFERENCE CALL TO DISCUSS SECOND QUARTER FISCAL 2023 FINANCIAL RESULTS

Covalon Technologies Ltd. will release its Q2 fiscal 2023 financial results on Thursday, May 25, 2023, before markets open. A conference call and webcast to discuss the financial results will be held on Thursday, May 25, 2023, at 9 a.m. EST.

To listen and participate through the conference call, please dial the following numbers.

North American toll-free number:  1-888-396-8049

Local (Toronto) number:  416-764-8646

Conference ID:  23773049

Participants will be able to ask questions of company management during the question-and-answer portion of the conference call either by asking them on the call or by submitting them using the chat function on the webcast.

A recording of the call will be available on Covalon's website under news and events on the investors tab.

Copies of Covalon's financial statements and MD&A (management discussion and analysis) can be obtained on SEDAR and under SEDAR filings on the investors tab of Covalon's website.

About Covalon Technologies Ltd.

Covalon is a patient-driven medical device company, built on the relentless pursuit to help the most vulnerable patients have a better chance at healing. Through a strong portfolio of patented technologies and solutions for advanced wound care, infection prevention and medical device coatings, the company offers innovative, gentler and more compassionate options for patients to heal with fewer infections, less pain and better outcomes. The company's solutions are designed for patients and made for care providers. Covalon leverages its patented medical technology platforms and expertise in two ways: (i) by developing products that are sold under Covalon's name; and (ii) by developing and commercializing medical products for other medical companies under development and licence contracts. The company is listed on the TSX Venture Exchange under the symbol COV and trades on the OTCQX Market under the symbol CVALF.

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