Salona Global appoints Michael Seckler permanent CEO; cuts $2M annual costs, reduces debt by 15%

EVOME MEDICAL TECHNOLOGIES INC.

Michael Seckler appointed permanent CEO effective July 24, 2023; was interim CEO since June 13.
Annual salary $100k plus up to $200k variable; options for 750k shares at C$0.29 vesting over 3 years.
Debt reduced 15% from ~$10M to ~$8.5M via inventory debt offset; late-stage restructuring discussions ongoing.
Annualized cost cuts of over $2M implemented; management targets profitability in quarter ending Sep 30, 2023.

item 5.02 item 8.01 item 9.01

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Appointed

Michael Seckler

Chief Executive Officer

EVOME MEDICAL TECHNOLOGIES INC.

Effective: 2023-07-24
Filed: July 28, 2023, 7:59 PM ET

On July 24, 2023, Salona Global Medical Device Corporation (the “Company”) appointed Michael Seckler, 58, to the position of Chief Executive Officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Michael Seckler was appointed as Chief Executive Officer at EVOME MEDICAL TECHNOLOGIES INC..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On July 24, 2023, Salona Global Medical Device Corporation (the “Company”) appointed Michael Seckler, 58, to the position of Chief Executive Officer.

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Source: SEC EDGAR

accession 0001062993-23-015393

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