Salona Global Medical Device Corporation Announces Closing of Acquisition and Effectiveness of S-1

SAN DIEGO, May 21, 2021 (GLOBE NEWSWIRE) -- Salona Global Medical Device Corporation (the “Company” or “Salona Global”) (TSXV:SGMD) is pleased to announce that, further to its press releases of September 17, 2020, March 15, 2021 and April 26, ‎‎2021, it has closed its acquisition of South Dakota Partners, Inc., ‎and its Form S-1 Registration Statement has been declared effective by the United States Securities and Exchange Commission. Accordingly, the 7,869,005 subscription receipts ‎‎issued by the Company and 2,121,232 subscription receipts issued by ‎Brattle Finco B.C. Ltd. were ultimately converted or exchanged, as applicable, for an aggregate of 9,990,237 common shares in ‎the capital of the Company and 2,121,232 purchase warrants of the ‎Company.

Subsequent to the transactions described herein, there are now 44,677,545 voting common shares of the Company issued and outstanding.‎

The transactions were completed in the manner described in the Company’s management information circular dated January ‎‎26, 2021 with respect to the annual and special meeting of shareholders held on March 11, 2021, a copy of which is available under the Company's profile on SEDAR (www.sedar.com).‎

The Company has submitted final materials to the TSX Venture Exchange for final approval of its Change of Business (as such term is defined by the TSX Venture Exchange) and will update the market with a comprehensive news release and timing of commencement to trading shortly.

For more information please contact:

Les Cross
Chairman of the Board and Interim Chief Executive Officer
Tel: 1 (800) 760-6826
Email: Info@Salonaglobal.com

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.