Covalon Appoints New Director and Issues DSUs

Covalon Technologies Ltd. has appointed Dr. Murray Miller to its Board of Directors as an independent director, subject to TSX Venture Exchange approval.

“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,” Covalon Board Chair Abe Schwartz stated.

Dr. Miller earned his medical degree from the University of Manitoba in 1982 and completed his residency in radiology at the University of Toronto. He has been a physician and practice leader at Ontario hospitals and community clinics for more than four decades. In addition to his clinical duties, Dr. Miller has held leadership positions in medical associations and has served as an advisor to various biotech and medical technology companies.

In connection with Dr. Miller’s appointment, the company has granted him 22,222 Deferred Share Units (DSUs) for all of his FY26 annual director’s fees as opposed to cash. The DSUs will vest 12 months from the grant date, and their value was calculated using the closing price of the company’s common shares on the TSX Venture Exchange on June 8, (being $2.16 multiplied by the number of DSUs awarded).

Covalon also has granted 6,218 total DSUs to certain directors to settle its obligations under the company’s LTIP.

Covalon is a medtech company improving patient outcomes through innovative and compassionate medical products and technologies. Its expertise spans advanced wound care, vascular access, and surgical consumables, with a strong focus on enhancing healing, reducing healthcare-associated infections (HAIs), and protecting skin integrity. Covalon’s solutions are designed for patients and made for care providers. The company is listed on the TSX Venture Exchange (COV) and trades on the OTCQX Market (CVALF).