Covalon appoints director, grants DSUs

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 Covalon Covalon 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 enhancing healing, reducing healthcare-associated infections (HAIs), and protecting skin integrity.

Our 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). To learn more about Covalon, visit our website at www.covalon.com .

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which reflect the Company’s current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “estimate”, “expect”, “intend”, or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur”, or “be achieved”.

In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events. Forward-looking statements involve risks and uncertainties, including, but not limited to, the factors described in greater detail in the “Risks and Uncertainties” section of our management’s discussion and analysis of financial condition and results of operations for the year ended September 30, 2025, which is available on the Company’s profile at www.sedarplus.ca , any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements.

Investors should not place undue reliance on any forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company assumes no obligation to update or alter any forward-looking statements, whether as a result of new information, further events, or otherwise, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260609748147/en/ To learn more about Covalon, please contact: Brent Ashton, Chief Executive Officer, Covalon Technologies Ltd. Email: investors@covalon.com Phone: 1.877.711.6055 Website: https://covalon.com/ Business Wire June 9, 2026 - 10:00 AM PDT News by QuoteMedia www.quotemedia.com