Mr. Luc Gregoire reports

DEVONIAN BOLSTERS LEADERSHIP TEAM AND ALIGNS STRATEGY TO ACCELERATE CLINICAL DEVELOPMENT AND DRIVE REVENUE GROWTH AND COMMERCIAL SUCCESS

Devonian Health Group Inc. has implemented changes to its management team and board of directors in order to focus attention, maximize nea- and long-term revenue growth, and accelerate the clinical development program for Thykamine in atopic dermatitis.

"Following a thorough review of our pipeline and business operations with the goal of creating a strategy optimized for success, the Devonian team has established a clear vision and elucidated our strategic imperatives. Based on the value of our assets, our abilities and resources, and our objective to maximize shareholder value, we have established a set of priorities and plans to achieve our vision and have organized our leadership team accordingly," said David Baker, Chairman of the Board.

The changes to the Company's Management and Board, effective immediately, include:

Luc Gregoire, a current Director of the Company, has been appointed as President and CEO of the Company. He will replace Pierre Montanaro who will transition to President of Altius Healthcare, Inc., Devonian's commercial subsidiary, to focus on driving further revenue growth.

David Baker, a current Director of the Company, has been appointed as non-executive Chairman of the Board. He will replace Dr. Andre Boulet who will more fully dedicate his efforts to his continuing role as Chief Scientific Officer, leading the Company's development strategy for its extensive research pipeline.

Additionally, Ashish Chabria has resigned from the Company's Board for personal reasons. There are no disputes or disagreements between the Company and him.

"Luc and David have provided tremendous insight to the Company since their Board appointments earlier this year. Moving forward, they will be extremely valuable as we prepare to propel the Company toward our next phase of growth and opportunity. We believe that Luc's demonstrated financial and strategic leadership scaling healthcare and data-oriented technology companies, coupled with his extensive experience and deep network in the capital markets will be instrumental in guiding, executing and accelerating the plethora of opportunities that exist for Devonian and its stakeholders," commented Dr. Andre Boulet, founder and Chief Scientific Officer. "We believe his experience and proven track record is perfectly aligned with our shared vision to unlock value," added Dr. Boulet. "Additionally, we are pleased to expand our relationship with David as independent Chairman and believe his leadership and oversight will be critical during this exciting time for Devonian."

"I am thrilled to expand my role and lead Devonian as CEO. We are preparing to enter a transformational phase for Devonian. The strength of our team and the alignment of its expertise is exactly what is needed to have a catalytic impact on our business. It is more important than ever that the Company is able to maximize the opportunities that exist with the pipeline and core areas of focus while maintaining a strong strategic and governance focus. With that in mind, the leadership structure we now have in place will enable us to take a significant step toward accelerating our clinical development and drive revenue growth and commercial success," said Mr. Gregoire. "The entire team is committed to fulfilling Devonian's noble mission of delivering novel therapies to meet significant unmet medical needs and ultimately driving shareholder value."

Grant of Stock Options

In addition to the leadership changes, Devonian announced that the Board has approved the granting of 2,934,610 options to Mr. Gregoire, 100,000 options to Mr. Montanaro and 731,000 options to Mr. Baker to purchase shares of Devonian at an exercise price of $0.125 for a period of 10 years in accordance with the terms and conditions of Devonian's Stock Option Plan. All the options granted to Messrs Gregoire, Baker and Montanaro are vested immediately.

The grant of the options is subject to the approval of the TSX Venture Exchange (the "Exchange").

About Devonian

Devonian Health Group Inc. is a late-stage botanical pharmaceutical corporation with novel therapeutic approaches targeting unmet medical needs. Devonian's core strategy is to develop prescription botanical drugs from plant materials and algae for the treatment of inflammatory-autoimmune diseases including but not limited to ulcerative colitis and atopic dermatitis. Based on a foundation of over 15 years of research, Devonian's focus is further supported by a US-FDA set of regulatory guidelines favoring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with its pharmaceutical offerings. Devonian Health Group Inc. was incorporated in 2013 and is headquartered in Quebec, Canada where it owns a state-of- the-art extraction facility with full traceability "from the seed to the pill." Acquired in 2018, Altius Healthcare Inc., its commercialization subsidiary, brings further opportunities for further diversification and growth potential. Devonian is traded publicly on the Exchange (TSXV: GSD) and on the OTCQB exchange (OTCQB: DVHGF).

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