SAN DIEGO - Salona Global Medical Device Corporation (' SGMD ', ' Salona Global ' or the ??' Company ') (TSXV:SGMD), ?an acquisition focused and vertically integrated medical device company serving the global injury and surgery recovery (known as recovery science) market, announced it released audited financial statements and highlighted progress made during its fiscal year ended February 28, 2022.
The Company is also pleased to announce that it will be hosting a call by Chairman and interim CEO Les Cross on the one-year anniversary of listing: June 9 th , 2022, at 5pm (eastern time).
Fiscal Year Highlights:
(March 1, 2021, to February 28, 2022)
Salona Global Medical Device Corporation was listed (post change of business transaction) on the TSX-V on June 9, 2021, under the ticker SGMD. Since the listing in June, Salona Global has achieved several strategic and financial milestones:
Revenues and Profits:
Built revenues from $3,973,773 in the first reported quarter (ending August 30, 2021) to $8,461,354 (ending February 28, 2022) or an increase of 113% since listing
Built gross profits from $1,204,171 in the first reported quarter (ending August 30, 2022) to $2,888,285 (ending February 28, 2022) or an increase of 140% since listing.
Cash Balance (end of fiscal-year) of $8,057,100 SGMD 2021 (June-Dec):
June: Listed with $5.55M in concurrent financing and the initial acquisition of South Dakota Partners Inc. (' SDP '), a low-cost, FDA-approved robotics production facility for recovery science medical devices.
July: Expanded revenue with its first European sales order from a customer in Spain.
September: Acquired Simbex, LLC (' Simbex '), an innovation-based company generating revenues and profits which becomes the basis for SGMD's product development strategy.
November: Added Group Purchasing Organization ('GPO') sales channel acquisition, adding an important sales channel for SDP and Simbex products.
SGMD 2022 (Jan-May):
January: Bought deal financing $4.26M led by Beacon Securities Limited, with Canaccord Genuity Corp. and Leede Jones Gable Inc.
February: Acquired Mio-Guard LLC (' Mio-Guard '), a sales leader in the professional and academic athletic and training market.
March: SDP instituted price increases from 11%-27% on a majority of products
April: Acquired IP and expanded Mio-Guard product line with premium electrode products; Hires ex-DJO sales leader.
May: Executed K-laser distribution agreement adding a new line of high margin IP protected products to the sales mix.
Contact:
Les Cross
Chairman of the Board and Interim Chief Executive Officer
Tel: 1 (800) 760-6826
Email: Info@Salonaglobal.com
Certain statements contained in this press release constitute 'forward-looking information' within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. These statements can be identified by the use of forward-looking terminology such as 'expects' 'believes', 'estimates', 'may', 'would', 'could', ??'should', 'potential', ?????'will', 'seek', 'intend', 'plan', and 'anticipate', and similar expressions as they relate ????to the Company, including: the Company closing additional acquisitions and the Company expecting to find additional opportunities as it continues to operate and grow in the recovery science market. All ?statements ?other than ?statements of ?historical fact may be forward-?looking ?information. Such statements reflect the Company's current views and intentions with respect to future ?events, and current information available to the Company, and are subject to certain risks, ?uncertainties and assumptions. Salona cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include but are not limited to the ??general business and ??economic ?conditions in the regions in ?which Salona operates; the ability of Salona to execute on key ??priorities, ?including the successful completion of acquisitions, business ?retention, and ??strategic plans and to ??attract, develop ?and retain key executives; difficulty integrating newly acquired businesses; ??the ability to ???implement business ?strategies and pursue business opportunities; ??disruptions in or ??attacks (including ?cyber-attacks) on Salona's information ?technology, internet, network ??access or other ??voice or data ?communications systems or services; the evolution of various types of fraud or other ???criminal ??behavior to which ?Salona is exposed; the failure of third parties to comply with their obligations to ??Salona or its ?affiliates; the ?impact of new and changes to, or application of, current laws and regulations; ?granting of permits and licenses in a highly regulated business; the ?overall difficult ?????litigation environment, including in the United States; increased competition; changes in foreign currency rates; ?increased ????funding ?costs and market volatility due to market illiquidity and competition for funding; the ?availability of funds ????and resources to pursue operations; critical ?accounting estimates and changes to accounting ?standards, policies, ????and methods used by Salona; the occurrence of natural and unnatural ??catastrophic ?events ?and claims ????resulting from such events; and risks related to COVID-19 including various ?recommendations, ?orders ?and ???measures ?of governmental ?authorities ?to try to limit the pandemic, including travel ?restrictions, border ?closures, ????non-essential business ?closures, ?quarantines, ?self-isolations, shelters-in-place and ?social distancing, ?disruptions ???to ?markets, economic ?activity, ?financing, supply chains and sales channels, and a ??deterioration of ?general ???economic ?conditions ?including a ?possible national or global recession?; as well as those ?risk factors ?discussed or ???referred to in Salona's disclosure ?documents filed with United States Securities and ?Exchange ?Commission and available at www.sec.gov, and with the securities regulatory authorities in certain ?provinces of ?Canada and available at www.sedar.com. Should any factor affect Salona in an unexpected ???manner, ?or ?should ?assumptions ?underlying the forward-looking information prove incorrect, the actual results or ???events ?may ?differ ?materially ?from the results or events predicted. Any such forward-looking information is ???expressly ?qualified ?in its ?entirety by ?this cautionary statement. Moreover, Salona does not assume ???responsibility for the ??accuracy or ??completeness of such forward-looking information. The forward-looking ???information included in the ?investor call ?is ?made as of the date of the investor call and Salona undertakes ???no obligation to publicly ?update or ?revise ?any ?forward-looking information, other than as required by applicable ???law.?
EVOME MEDICAL TECHNOLOGIES INC. 
