Salona Global Medical Device Corporation acquired Simbex, LLC for CAD 12.5 million.
Salona Global Medical Device Corporation (TSXV:SGMD) completed the acquisition of Simbex, LLC for CAD 12.5 million on September 30, 2021. As consideration, the company provided CAD 5,691,759 cash as well as issuing 6,383,954 shares of non-voting class "A" common stock valued at CAD 6,769,769 subject to earn-out adjustments, including revenue shortfall adjustment and adjusted net assets adjustments. The company assumed all the assets and liabilities of Simbex.