Covalon appoints Dr. Murray Miller to board, grants DSUs

Covalon Technologies Ltd. (TSXV: COV; OTCQX: CVALF) announced the appointment of Dr. Murray Miller to its board of directors as an independent director, subject to TSX Venture Exchange approval.

Dr. Miller graduated as a medical doctor from the University of Manitoba in 1982 and completed his residency in radiology at the University of Toronto. He has served as a physician and practice leader at Ontario hospitals and community clinics and has held leadership positions in medical associations while advising biotech and medical technology companies.

Dr. Miller previously served on Covalon's board from 2010 to 2019 and remains a shareholder of the company. "Having previously served on our Board between 2010 and 2019, Dr. Miller is very knowledgeable about Covalon and has remained a substantial shareholder," said Abe Schwartz, chair of the Covalon board.

In connection with his appointment, Covalon granted Dr. Miller 22,222 deferred share units (DSUs) for his annual director's fees for fiscal year 2026 instead of cash payment. The DSUs were granted under the company's amended and restated omnibus long-term incentive plan adopted on March 25, 2026. The units will vest 12 months from the grant date, with a deemed value calculated using the closing price of $2.16 per share on the TSX Venture Exchange on June 8, 2026.

The company also granted 6,218 DSUs to certain directors to settle obligations under its long-term incentive plan.

The information is based on a company press release.

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