Salona Global Medical Device Corporation (TSXV:SGMD) entered into a membership interest agreement to acquire Simbex, LLC for $11.3 million on September 30, 2021. An initial payment of $3.5 million will be made, followed by a contingent payment in January 2023 of (1) up to $3.5 million and (2) up to 6,383,954 shares based upon profitability milestones. Restricted shares of a U.S. subsidiary of SGMD will be issued to the sellers of Simbex. SGMD would close this transaction with existing cash on the balance sheet. Simbex generated over CAD 8 million ($6.26 million) in audited revenues in 2020. Approval of TSX Venture Exchange Approval is required for the transaction. Robbie Grossman of DLA Piper (Canada) LLP and Daniel C. Belostock, Esq. and Kevin M. Grant, Esq. of DLA Piper LLP (US) acted as legal advisors for Salona Global Medical Device Corporation. Paul H. Ode, Jr. of Downs Rachlin Martin PLLC acted as a legal advisor for Simbex, LLC. Salona Global Medical Device Corporation (TSXV:SGMD) completed the acquisition of Simbex, LLC on September 30, 2021.