An anonymous director reports

COVALON ANNOUNCES ISSUANCE OF DEFERRED SHARE UNITS

Covalon Technologies Ltd.'s board of directors has approved the grant of an aggregate of 295,000 deferred stock units (DSUs) to certain of its directors and officers. All DSUs were granted pursuant to the company's omnibus long-term incentive plan, and are subject to the terms of the applicable grant agreements and the requirements of the TSX Venture Exchange.

About Covalon Technologies Ltd.

Covalon Technologies 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, Covalon offers innovative, gentler and more compassionate options for patients to heal with less 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.

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