TORONTO, April 22, 2021– Skylight Health Group Inc (TSXV:SHG; OTCQX: SHGFF) (“Skylight Health” or the “Company”), a multi-state primary care management group in the United States, announced today it has filed a preliminary short form base shelf prospectus (with the securities regulators in the following provinces of Canada; Alberta, British Columbia, Manitoba and Ontario) (the “Prospectus”) and a corresponding shelf registration statement on Form F-10 with the U.S. Securities and Exchange Commission.
The Prospectus, when final and effective, will enable the Company to offer, issue and sell, from time to time: subordinate voting shares; restricted voting shares; limited voting shares; warrants; subscription receipts; debt securities; convertible securities; units; or any combination of such securities (collectively, the “Securities”) for up to an aggregate offering price of CA$100,000,000 (or its equivalent), in one or more transactions during the effective period of the Prospectus.
Skylight Health has filed the Prospectus and corresponding registration statement in order to provide the Company with greater financial flexibility going forward. The registration statement is not yet effective, and the securities may not be sold, nor may offers to buy, be accepted prior to the time the registration statement becomes effective.
“Our strategy continues to be organic growth and growth through acquisition, and we have built a robust pipeline of immediately accretive and strategic targets,” says Prad Sekar, Co-Founder and CEO. “As we move closer to our expected NASDAQ uplisting, it is more important than ever to have the financial flexibility to continue to execute on our growth and expansion strategy.”
This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale, of the securities in any province, state, or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration of such securities under the securities laws of any such jurisdiction.
A copy of the final short form base shelf prospectus can be found on SEDAR at www.sedar.com and a copy of the registration statement can be found on EDGAR at www.sec.gov.
About Skylight Health Group
Skylight Health Group (TSXV:SHG; OTCQX:SHGFF) is a healthcare services and technology company, working to positively impact patient health outcomes. The Company operates a US multi-state health network that comprises of physical multi-disciplinary medical clinics providing a range of services from primary care, sub-specialty, allied health and laboratory/diagnostic testing. The Company owns and operates a proprietary electronic health record system that supports the delivery of care to patients via telemedicine and other remote monitoring system integrations. The Company has operations serving 16 states and continues to expand in services and locations both organically and by way of strategic acquisitions.
The Company primarily operates a traditional insurable fee-for-service model contracting with Medicare, Medicaid and other Commercial Payors. The Company also offers a disruptive subscription-based telemedicine service for the un/under-insured population who have limited access to urgent care due to cost.