Covalon Announces Appointment of New Director and DSU Grants

About this update from Covalon Technologies Ltd.

MISSISSAUGA, Ontario, June 09, 2026--(BUSINESS WIRE)--Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, today announced the appointment of Dr. Murray Miller to its Board of Directors ("Board") as an independent director subject to TSX Venture Exchange approval. Dr. Miller graduated as a Medical Doctor from the University of Manitoba in 1982. He completed his residency in Radiology at the University of Toronto. Dr. Miller has served as a physician and practice leader at Ontario hospitals and community clinics since then. Dr. Miller has held leadership positions in medical associations and has served as an advisor to a number of biotech and medical technology companies. "I am delighted that Dr. Miller has agreed to rejoin the Covalon Board of Directors. Having previously served on our Board between 2010 and 2019, Dr. Miller is very knowledgeable about Covalon and has remained a substantial shareholder. Covalon will benefit greatly from his medical expertise and creative energy in the further advancement of our Company", said Abe Schwartz, Chair of the Covalon Board. In connection with the appointment of Dr. Miller to the Board, the Company has granted to Dr. Miller an aggregate of 22,222 Deferred Share Units ("DSUs") for all of Dr. Miller’s annual director’s fees for fiscal year 2026 as opposed to cash. The DSUs were granted under the Company’s Amended and Restated Omnibus Long-Term Incentive Plan (the "LTIP") adopted effective on March 25, 2026. The DSUs will vest 12 months from the date of grant. The deemed value for the DSUs was calculated using the closing price of the Company’s common shares on the TSX Venture Exchange on June 8, 2026, being $2.16 multiplied by the number of DSUs awarded. In addition, the Company has also granted a total of 6,218 DSUs to certain directors to settle its obligations under the Company’s LTIP. Those interested in learning more about Covalon can visit www.covalon.com or follow Covalon on LinkedIn, Facebook, Instagram, or X. About CovalonCovalon is a leading MedTech company dedicated to improving patient outcomes through innovative and compassionate medical products and technologies. Our expertise spans advanced wound care, vascular access, and surgical consumables, with a strong focus on enha...

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