Brief: Salona Global Medical Device Corporation Announces Plans To Launch Intellectual Property Acquisition Unit

Evome Medical Technologies

23/08/2021 13:29

Aug 23 (Reuters) - Salona Global Medical Device Corp
 SGMD.V :
    * SALONA GLOBAL MEDICAL DEVICE CORPORATION ANNOUNCES PLANS
TO
LAUNCH INTELLECTUAL PROPERTY ACQUISITION UNIT; COMPLETE
TRANSACTION WITH A MULTI-PRODUCT, IP-DRIVEN MEDICAL DEVICE
COMPANY WITH $8,000,000 IN 2020 REVENUES
    * SALONA GLOBAL MEDICAL DEVICE CORP - TRANSACTION IS
EXPECTED TO
BE SPLIT 40% STOCK AND 60% IN CASH
    * SALONA GLOBAL MEDICAL DEVICE -UNDER DEAL, EXPECTED TO BE
AN
INITIAL PAYMENT OF US$3.5 MILLION FOLLOWED BY PAYMENT EXPECTED
IN JAN 2023 OF UP TO US$3.5 MILLION
    * SALONA GLOBAL MEDICAL DEVICE - EXPECTED TO BE AN INITIAL
PAYMENT
OF US$3.5 MILLION FOLLOWED BY PAYMENT EXPECTED IN JAN 2023 OF UP
TO 6.4 MILLION COMMON SHARES
    * SALONA GLOBAL MEDICAL DEVICE - PLANS TO FINALIZE
TRANSACTION
WITH EXISTING CASH ON BALANCE SHEET

Source text for Eikon:  ID:nGNXZgyMM 
Further company coverage:  SGMD.V 

 ((Reuters.Briefs@thomsonreuters.com;))