Covalon Postpones Annual Meeting of Shareholders Due to COVID-19

Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, announces today that given the extraordinary circumstances of the ongoing COVID-19 pandemic and the resulting restrictions on public gatherings, it is postponing its annual meeting of shareholders to a later date.

The Company is assessing its options to hold a virtual meeting with a view to protecting the health and safety of its employees, shareholders, and other usual meeting attendees. As a result, the current meeting and record dates are cancelled. The updated record date and date of the annual meeting of shareholders will be communicated when known.

About Covalon
Covalon Technologies Ltd. researches, develops, and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products, and services address the advanced healthcare needs of medical device companies, healthcare providers, and individual consumers. Covalon's technologies are used to prevent, detect, and manage medical conditions in specialty areas such as infection control, vascular access, surgical procedures, advanced wound care, and medical device coatings. To learn more about Covalon, visit our website at www.covalon.com.

Neither 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 contains forward-looking statements which reflect the Company's current expectations regarding future events, including the Company’s annual meeting of shareholders. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including risks related to the COVID-19 virus and the government response that may affect the annual meeting of shareholders, the ability of the Company to digitally host the annual meeting of shareholders, the ability of necessary personnel to attend to the administration of the annual meeting of shareholders due to mandated quarantine or COVID-19 related restrictions and other risks, any of which could cause future events to differ materially from those discussed or implied in the forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.

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