Covalon Technologies Ltd. Announces Payment of First Ever Dividend, Marking a Milestone in Financial Strength

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MISSISSAUGA, Ontario — Covalon Technologies Ltd. (the “Company” or “Covalon”) (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, today announced the payment on November 18, 2025 of its first ever dividend – a special cash dividend of C$0.15 per common share – reflecting the Company’s strong financial performance and continued success in accelerating the adoption of its unique, patented, life-saving and life-improving medical technologies.

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This special dividend represents a significant milestone in Covalon’s evolution and demonstrates the Company’s commitment to delivering value to our shareholders. It comes on the heels of several consistent quarters of disciplined execution, profitability, and expanding adoption of Covalon’s proprietary technologies in hospitals and healthcare facilities around the world.

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“This dividend marks an exciting new phase for Covalon,” said Brent Ashton, Chief Executive Officer of Covalon. “It is both a thank you to our loyal shareholders and a signal of the financial strength and stability we’ve worked hard to achieve. In the past three years, Covalon has increased revenue by 82% to $33.0 million, increased Gross Margins from 41% to 56% and flipped Adjusted EBITDA from -$7.8 million to +$4.1 million¹. Our incredible technologies are greatly improving patient care while also driving strong, sustainable financial results for our company, and this dividend is one way we’re sharing that success. Numerous advancements including our recent VALGuard® Line Guard clinical evidence study and our new CovaClear® indication are fueling accelerated growth which gives the Company a solid basis for continued strength of financial performance.”

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This dividend, made possible by the significant financial turnaround over the past few years, gives shareholders the flexibility to realize an immediate cash return or to reinvest the proceeds to increase their holdings of Covalon shares.

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The special dividend of $0.15 per share was payable on November 18, 2025, to shareholders of record as of November 4, 2025.

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¹

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All comparisons reflect Covalon’s most recent Trailing Twelve Months (FY’24-Q4 through FY’25-Q3), compared to full fiscal year 2022 (FY’22-Q1 through FY’22-Q4).

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About Covalon

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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

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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.

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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, 2024, which is available on the Company’s profile at

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, 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.

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SOURCE Covalon Technologies Ltd.

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View source version on businesswire.com:

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Contacts

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To learn more about Covalon, please contact:
Brent Ashton, Chief Executive Officer, Covalon Technologies Ltd.
Email: [email protected]
Phone: 1.877.711.6055
Website: https://covalon.com/

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