Skylight Health Announces 75% Voluntary Share Lock-Up With 100% Lock-Up from Insiders

TORONTO, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Skylight Health Group Inc. (TSXV:SHG; OTCQX: SHGFF) (“Skylight Health” or the “Company”), announced today that 75% of investors who participated in the $0.15 financing, which closed September 25, 2020, have agreed to a voluntary lock-up, extending the hold period to March 31, 2021. 100% of insiders, including Merida Capital Partners, that participated in this round of financing have agreed to the same lock-up terms. These shares were previously subject to a free-trade date of January 25, 2021. This lock-up covers approximately 26,250,000 of the 35,000,000 shares issued, representing 75% of the shares issued.

“Extending the planned release of shares through this lock-up agreement from January 25, 2021 to March 31, 2021 demonstrates the overwhelming shareholder support for Skylight Health and their confidence in management’s ability to execute our long-term strategy,” said Prad Sekar, CEO & Co-Founder of Skylight Health. “We believe this new schedule will continue to enhance shareholder value in the coming quarter while we focus on our mission to be the leading healthcare group in the US.”

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. With a patient roster of over 150,000 patients, the Company’s operations servicing 15 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.

For more information, please visit www.skylighthealthgroup.com or contact:

Investor Relations:
Jackie Kelly
[e-mail] 
416-301-2949

Currency Usage, Cautionary and Forward-Looking Statements

All currency contained in this Press Release represent Canadian Dollars unless otherwise stated.