Covalon Technologies Ltd. Announces the Appointment of Experienced MedTech Executive Mr. Brent Ashton as New CEO

Covalon Technologies Ltd. (TSXV: COV; OTCQX: CVALF) (the "Company" or "Covalon"), an advanced medical technologies company, today announced that its Board of Directors (the “Board”) has appointed Mr. Brent Ashton to serve as Chief Executive Officer and a director of the Company, effective immediately.

Mr. Ashton brings a wealth of experience in the MedTech industry, having led large business units responsible for wound care, vascular access, infection prevention and pre-analytical diagnostics at medical industry leaders 3M Health Care and BD (Becton Dickinson). With his broad experience in the sector, Mr. Ashton is poised to lead Covalon into its next phase of growth and development.

Mr. Amir Boloor, Chairman of the Covalon Board of Directors, stated, “On behalf of the Board, I am delighted to welcome Mr. Brent Ashton to Covalon as its new CEO. Brent’s extensive MedTech industry expertise specifically as it relates to our products and end-markets as well as his strategic leadership and demonstrated track record of driving both top and bottom-line growth will play a crucial part in fast-tracking Covalon's growth journey. As we remain committed to fortifying our operations and prioritizing both profitability and sustained growth, Brent's valuable contributions will be instrumental in achieving our strategic objectives."

Mr. Ashton said, "I am extremely excited about the opportunity to lead Covalon and its talented and dedicated team to further success. Covalon has exceptional, compassionate medical products that make a real difference to patients and the clinicians who treat them. As CEO, I look forward to meeting the needs of our prestigious customers and supporting our team as we deliver on our strategic priorities and drive both long-term growth and value creation for our shareholders.”

Mr. Ashton is a seasoned executive with more than 25 years of experience. He was most recently at BD as Vice President and General Manager responsible for the Specimen Management Business Group (best known for the Vacutainer brand of blood collection tubes and needles). Prior to his role at BD, Mr. Ashton spent 13 years at 3M Health Care, excelling in roles that ranged from Global Business Director to Business Unit Vice President. His most recent role at 3M Health Care involved leading commercial and cross-functional efforts for the Patient Preparation and Management Business Unit with greater than $2.0 billion in worldwide revenue focused on vascular access, securement, patient monitoring, device reprocessing, patient warming and surgical infection prevention businesses. Mr. Ashton is a graduate of the Ivey School of Business at Western University in London, Ontario, Canada with a Bachelor of Arts in Honors Business Administration (Marketing and International).