We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Salona Global Medical Device Corporation | TSXV:SGMD | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.22 | 0.215 | 0.225 | 0 | 01:00:00 |
SGMD targets acquisitions with quality products that have succeeded in the US medical device market but have little or no revenue from Europe or other developed markets where SGMD executives have relationships and a strong revenue track record.
Global expansion post acquisition is a key part of the SGMD organic growth strategy. As a result of the rapidly maturing pipeline for potential acquisitions, management has launched a European sales and marketing division in advance of potentially closing on additional acquisitions. Leading that division is Stephen Murphy. Mr. Murphy, a resident of the United Kingdom, will work from the division headquarters near London. He is the former President of DJO Global’s (“DJO”) international business, with full P&L responsibility of the European & International division. Mr. Murphy started his 27-year career at DJO in 1992 with responsibility for Ireland, and ultimately being promoted to lead the international division of DJO, where he grew revenue from $20M to in excess of $300M over 15 years in the European and International markets, then reporting to Les Cross, the current SGMD Chair.
“I’m looking forward to SGMD closing additional acquisitions quickly so that we can expand our products into our existing relationships in Europe and around the world,” said Les Cross, Chairman and interim CEO of SGMD. “It is good to see our growth plan in action. While this is just one product in one country, it is the first step in a plan where the execution path is familiar to me and my team. We plan to complete more acquisitions, which will provide us more products and I am confident we can break into more EU countries. When I was CEO of DJO, we grew our sales outside the US to one-third of total revenue. I have worked with Stephen for 20 years as he grew the international business from just a few million dollars to over 300 million dollars in sales. I am confident that over time he can execute the same strategy for Salona Global.”
The Company has posted its latest corporate presentation, along with a webcast led by Chairman & interim CEO Les Cross, at www.salonaglobal.com/investors.
Salona Global Today:
The SGMD post acquisition organic growth plan:
European Sales Expansion: SGMD is targeting companies that have quality products that have succeeded in the US medical device market but have little or no revenue from Europe or other developed markets where SGMD executives have a history of marketing success.
Leveraging the Operational Platform: The State-of-the-Art FDA approved SDP facility, the building block of the SGMD plan, will be used to optimize production strategies, control costs and provide supply chain assurances to US customers who are wary of risks from trade tensions and poor-quality outsourced production methods.
Share Capital and Balance Sheet
Shares | |
Shares** | 44,677,545 |
Maximum shares reserved for issuance to SDP pending earn outs | 19,162,000 |
Shares outstanding at listing (partially diluted)*** | 63,839,545 |
Net Assets (estimated) | $13,000,000 |
* For more information on SDP and historical performance please see the Company’s Management Information Circular dated 01/26/2021 available on the Company’s Sedar Profile at www.sedar.com.** The Company completed a 7.37-for-10 share consolidation on 12/21/2020.*** Does not include the 15-18 million shares (described above) earmarked for potential acquisitions (with between $5m and $20m in sales) in negotiations or shares issuable pursuant to options, warrants and Class A shares.
In addition, the Company announces that its board of directors has granted stock options exercisable for an aggregate of up to 400,000 common shares of the Company at $1.39 per share for five years. All options have been granted to eligible persons (director and employee of the Company) pursuant to the Company's 2021 Amended and Restated Stock Option Plan and will vest over three years with the initial vesting after 1 year.
For more information please contact:
Les CrossChairman of the Board and Interim Chief Executive OfficerTel: 1 (800) 760-6826Email: Info@Salonaglobal.com
Additional Information
There can be no assurance that any of the potential acquisitions in advanced negotiations will be completed as proposed or at all and no definitive agreements have been executed. Completion of any transaction will be subject to applicable directors, shareholder and regulatory approvals.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian and United States securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, including: information relating to the business plans of the Company; the timing of the shipment to the Spanish customer; the potential recurring revenue from the Spanish customer; statements regarding anticipated revenue and positive cash of acquired companies; the Company’s acquisition strategy; future acquisitions and the structure and financing of such acquisitions; information with respect to future growth and growth strategies; the Company’s organic growth plan and strategy and the manner in which the Company proposes to accomplish it; and anticipated trends in the Company’s industry; are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including: the Company and a target being satisfied with due diligence; the Company successfully negotiating and executing definitive agreements for an acquisition; closing conditions being satisfied or waived; and the Company obtaining all requisite approvals for a transaction. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Examples of such risk factors include, without limitation: credit; market (including equity, commodity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations; granting of permits and licenses in a highly regulated business; the overall difficult litigation environment, including in the United States; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; and risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with United States Securities and Exchange Commission and available at www.sec.gov, and with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
1 Year Salona Global Medical De... Chart |
1 Month Salona Global Medical De... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions