Danavation Technologies Announces Appointment of New Director and Grant of Options

Toronto, Ontario–(Newsfile Corp. – April 4, 2023) – Danavation Technologies Corp. (CSE: DVN) (“Danavation” or the “Company“) is pleased to announce the appointment of Mr. Vivek Jain to its Board of Directors.

Mr. Jain is an entrepreneur and venture capitalist. He has co-founded two tech startups – Project FANchise, and LOKO. Mr. Jain has previously held senior finance positions at several companies, including CFO; and he has international professional experience, notably as Assistant Vice President with Enstar Group in Bermuda. Mr. Jain is a Chartered Accountant from the Institute of Chartered Accountants of Saskatchewan and holds a bachelor’s degree in business administration from the University of Regina.

“I am looking forward to working alongside Vivek at the Company’s board of directors and am confident that his contributions to Danavation will drive significant growth and revenue,” said John Ricci, President and CEO of Danavation, and a member of the Company’s Board of Directors.

The Company further announces that it has granted options to purchase an aggregate of 250,000 common shares of the Company (the “Common Shares“) exercisable at a price of $0.35 per share and expiring on April 4, 2028, to certain officers, directors and consultants of the Company. The Common Shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.

About Danavation

Danavation Technologies Corp. is the only North American-founded and headquartered technology company providing Digital Smart Labels™ and a software Platform-as-a-Service (PaaS) solution that enables companies across various sectors to automate labelling, price, product, and promotions in real-time. Danavation’s Digital Smart Labels™ enhance data accuracy and improve performance by removing high labour costs and low productivity typically associated with traditional labour-intensive workflows.

Our goal is to create a sustainable and profitable business for shareholders while advancing sound environmental, social and governance practices, including by significantly reducing paper usage. Danavation has introduced its solution to retailers across North America, including big box and boutique grocers, while also targeting new markets including healthcare providers, manufacturing, and logistics companies.

Learn more about the background of Danavation and our vision for the future on our website. As well, follow us on LinkedIn, Instagram, Twitter and YouTube for more updates on how we are transforming the retail landscape.

For further information, please contact:

John Ricci
President & Chief Executive Officer
hello@danavation.com

Cindy Gray
5 Quarters Investor Relations, Inc.
Tel: 1-403-705-5076 | investors@danavation.com

Investor Relations – United States

Trevor Brucato, Managing Director
RBMG – RB Milestone Group LLC
New York, NY & Stamford, CT
danavation@rbmilestone.com / www.rbmilestone.com

For media relations / management interview requests:

Mr. Nelson Hudes
Hudes Communications International
Tel: 1-905-660-9155 or nelson@hudescommunications.com

Forward-Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/161305