Salona Global Plans to Close the Acquisition of the Physical Medicine Business of Biodex on April 3, 2023; Engages Maxim Group LLC as Exclusive Investment Banking Advisor for US Capital Markets

SAN DIEGO, March 16, 2023 (GLOBE NEWSWIRE) -- Salona Global Medical Device Corporation (“Salona Global,” “SGMD,” or the ‎‎“Company”) (TSXV:SGMD) announced that it executed a stock purchase agreement (the “Agreement”) to purchase all of the shares of capital stock of Biodex Medical Systems, Inc. (“Biodex”), which consists principally of the Biodex Physical Medicine (Rehabilitation) business (the “Acquisition”). The Agreement replaces the previously disclosed asset purchase agreement covering the same business that was first announced on November 29, 2022. The Company expects to close the Acquisition on April 3, 2023. Additionally, the Company announced it has executed an exclusive agreement with Maxim Group LLC, an investment banking firm based in New York City to provide Salona Global with investment banking and advisory services for the US capital markets.