FORT LAUDERDALE, Fla., May 21, 2021 (GLOBE NEWSWIRE) -- Michael Dalsin has filed an early warning report (the “Report”) regarding his holdings in Salona Global Medical Device Corporation (the “Issuer”).
As a result of the number of voting common shares of the Issuer (the “Common Shares”) issued and outstanding subsequent to the transactions completed by the Issuer and disclosed in its News Release earlier today (the “Salona Release”), Michael Dalsin has ceased to be a 10% holder of the Common Shares of the Issuer. In addition, as a result of Mr. Dalsin’s participation in a share exchange, wherein he exchanged 755,425 Common Shares for 755,425 Class “A” non-voting common shares of the Issuer (the “Class A Shares”), Mr. Dalsin has become a 10% holder of the Class A Shares. Accordingly, Mr. Dalsin has filed an early warning report (Form 62-103F1).
Immediately before the issuance of 755,425 Class A Shares to Mr. Dalsin, Mr. Dalsin owned or controlled, directly or indirectly, no Class A Shares. Immediately after the issuance of the Class A Shares, Mr. Dalsin owned or controlled, directly or indirectly, 755,425 Class A Shares, representing 55.7% of all of the issued and outstanding Class A Shares. The Class A Shares were acquired for investment purposes.
Immediately before the transactions disclosed in the Salona Release, Mr. Dalsin owned or controlled, directly or indirectly, 4,439,075 Common Shares, representing 13.1% of all of the issued and outstanding Common Shares. As a result of the disclosure in the Salona Release that the Issuer had 44,677,545 issued and outstanding Common Shares, Mr. Dalsin now owns or controls, directly or indirectly, 4,439,075 Common Shares, representing 9.9% of all of the issued and outstanding Common Shares.
Mr. Dalsin may increase or reduce his investment in the Issuer according to market conditions or other relevant factors.
For further details relating to the acquisition, please see the Report, which was filed in accordance with applicable securities laws, a copy of which is available under the Issuer’s profile on the SEDAR website at www.sedar.com, or may be obtained from Mr. Dalsin by contacting 646-450-3119.