SAN DIEGO - Salona Global Medical Device Corporation ('Salona Global,' 'SGMD,' or the 'Company') (TSXV: SGMD) today announced financial results for the first fiscal quarter of 2022, ending May 31, 2022.

The Company grew its annual and quarterly revenue and gross profit. The Company also lifted its gross margins for the quarter to 36%. This represents the fifth consecutive quarter of record revenue and gross profits under the leadership team led by Les Cross and Luke Faulstick.

The Company also announced that Les Cross will continue as a full-time Executive Chairman turning his focus more to capital markets communication and deal sourcing. As of July 18, 2022, Luke Faulstick will assume the role of Chief Executive Officer with the responsibility of acquisition integration, execution of product development, and driving organic growth. Mr. Faulstick had most recently served as Chief Operating and Integration Officer of Salona Global, and since Salona Global's public listing last year has been President of Salona Global's wholly owned subsidiary and manufacturing unit, South Dakota Partners, Inc. ('SDP'). He was previously the Chief Operations Officer and Operations Vice President for DJO Global from 2000-2012.

Contact:

Melissa Polesky-Meyrowitz

Tel: 1 (800) 760-6826

Email: Info@Salonaglobal.com

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