On February 16, 2022, Salona Global Medical Device Corporation closed the transaction. The company has issued 7,749,000 units were sold at a price of CAD 0.55 per unit for aggregate gross proceeds of approximately CAD 4.26 million. All securities issued pursuant to the offering are subject to a four-month and one day hold period under applicable securities laws in Canada.

The offering remains subject to the final approval of the TSX Venture Exchange.