TORONTO, May 16, 2019 (GLOBE NEWSWIRE) -- Deveron UAS Corp. (CSE: DVR) (“Deveron” or the “Company”) is pleased to announce that it has partnered with World Class Extractions (CSE: PUMP) (“World Class” or “WCE”) to provide its network of hemp growers and affiliates with best in class data insights through a custom data program in the United States and Canada.
New Frontier Data, a leading technology-driven analytics company specializing in the cannabis industry, projects global hemp sales to hit a record $5.7 billion by 2020. Given the strong increasing demand for hemp-derived CBD products, both companies believe they can drive improved production of hemp at the farm level, ultimately improving quality and yield.
World Class is a leading hemp extraction company which has started building strategic access to hemp supply through a collaborative approach with farmers.
Deveron is an industry leading agriculture technology company focused on data acquisition and analytics that drive increased yields and reduced costs. The two companies will be bringing best-in-class data acquisition tools for hemp growers that include drone data and soil data. On top of data acquisition, the Company will be working with WCE and its farmer partners to deliver digital records and analytics that will help with benchmarking the hemp production process, traceability and other best management practices.
Deveron has worked with leading agricultural companies since its founding to bring data acquisition and analytics to broad acre farmland. The company is integrated with leading farm platforms, like Bayer Crop Science’s Climate FieldView and John Deere’s MyJohnDeere data management systems. The expansion into hemp data analytics is a natural extension to the current data insights it provides to leading farmers in North America that grow corn, soybean, wheat and canola.
“We are extremely excited to be expanding our digital product solution to the customers of World Class.” said David MacMillan, President and CEO. “On the data acquisition side, we see considerable scale and opportunities in supporting higher margin crop. Additionally, given our leading data algorithms with large growers in Canada and the United States, we believe we are uniquely positioned to provide the most informative data insights available to farmers thinking about changing their production from traditional row crops to hemp.”
“Farming hemp requires proper planning, preparation and execution and we want to make sure our partner farmers have access to the best technology to assist them. The high value of hemp crops today makes the data Deveron collects even more valuable than for traditional row crops and will help our farming partners make better informed decisions in the field.” said Michael McCombie, CEO of World Class. “Deveron has a large network of agronomists and drone pilots throughout Canada and the United States. Leveraging their technology and personnel spanning such large service areas will provide great value to our farmers as we build our network of processing facilities.”
About World Class Extractions: WCE is a Canadian based developer of an innovative extraction process for both the hemp and cannabis industry. The company intends to provide single step continuous flow extraction services to the hemp and cannabis industry. Using patent pending technology, the company can produce higher yields and better-quality crude hemp oil at faster rates. The technology allows the extraction of CBD Oil and other related extracts from wet or dried natural plants. In addition, the company can save its clients floor space, utility drying costs, equipment and processing labour costs.
About Deveron UAS: Deveron is a leading agriculture technology company focused on providing data acquisition services and data analytics to the farming sector in North America. Through its on-demand network of drone pilots and soil sampling technicians, the Company is providing scalable data acquisition solutions in the imagery and soil space. Additionally, through its wholly owned subsidiary Veritas Farm Management, the company provides growers in North America with independent data analytics and insights on the massive amount of data being generated on farms today.
For more information and to join our community, please visit www.deveronuas.com/register or reach us on Twitter @DeveronUAS or @MyVeritas_HQ
David MacMillan
President & CEO
Deveron UAS Corp.
416-367-4571 ext. 221
dmacmillan@deveronuas.com
This news release includes certain “forward-looking statements” within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world-wide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward looking statements.