Effective as of April 15, 2015, each of Timothy E. Brog, Kevin A. Cavanaugh, and Julius Bloomston resigned as a director of Deer Valley Corporation. The resignations of Messrs. Brog, Cavanaugh, and Bloomston are not the result of any disagreement with the company on any matter relating to the company's operations, policies or practices.

Messrs. Brog and Bloomston were members of the Audit Committee of the board of directors of the company at the time of their resignation. The remaining directors appointed and elected Tony Bonidy, Lodovico de Visconti, and Ron Frank to fill the vacancies created by the resignations of Messrs.

Brog, Cavanaugh, and Bloomston. Mr. Bonidy was appointed to the company's Compensation Committee and Nominating Committee. Mr. de Visconti was appointed to the company's Audit Committee.

Mr. Frank was appointed to the company's Audit Committee and Compensation Committee. Each of Messrs. Bonidy's and de Visconti's acceptance of the appointments is effective as of April 21, 2015.

Mr. Frank's acceptance of the appointment is subject to review by his personal legal counsel.