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Covalon Engages Advisors to Pursue Strategic Acquisitions

MISSISSAUGA, Ontario--(BUSINESS WIRE)--May 16, 2017-- Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV), an advanced medical technologies company, today announced that it has engaged MPA Morrison Park Advisors Inc. (“MPA”) as a financial advisor to help the Company accelerate its growth and expansion by pursuing strategic acquisitions and enhance the Company’s profile in the capital markets and investment community.

As partial compensation for the services to be provided, the Company has agreed to issue MPA a total of 120,000 warrants of the Company (“Warrants”) in two equal tranches at six and nine months following commencement of MPA’s engagement. The Warrants will each be convertible into one common share of the Company at an exercise price equal to the then current market price of common shares on the date of issuance, and will expire three years from date of issuance. The issuance of the Warrants is subject to approval of the TSX Venture Exchange.

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 wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility.

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. 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 the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these 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.

Source: Covalon Technologies Ltd.

Covalon Technologies Ltd.
Brian Pedlar, 905-568-8400 x 233
CEO
bpedlar@covalon.com
Toll free: 1-877-711-6055
Web site: www.covalon.com
Twitter: @covalon