Skylight Health announces a non-brokered private placement of

TORONTO, Aug. 08, 2022 (GLOBE NEWSWIRE) — Skylight Health Group Inc. (NASDAQ: SLHG; TSXV: SLHG) (“Skylight Health” or the “Company”), a multi-state primary care management group in the United United States, has launched a non-brokered private placement (the “Offer”) of convertible debenture units (the “Debenture Units”) at C$1,000 per debenture unit for aggregate gross proceeds of up to C$2 million. CAD dollars.

Each debenture will have a principal amount of C$1,000 and will bear interest at the rate of 8% per annum, paid quarterly in shares, and will have a maturity date of February 15, 2025. Each debenture will be convertible into 1,111 common shares. of the Company at C$0.90 (“Ordinary actions”). Upon issuance of the Debenture, a holder will also receive 1,111 Equity Warrants (the “Mandates“) of the company. Each warrant entitles its holder to purchase one common share (a “Warrant Action”) at a price of C$1.35 per share for a period of 24 months from the date of issue of the debentures, provided that if after the date which falls four months and one day after the issue of the warrants , the Common Shares trade at a price of at least C$1.60 for 10 consecutive trading days on the Company’s principal stock exchange, the Company may deliver notice and accelerate the expiry date of the Warrants up to ‘on the date which is 30 days after the date on which this Notice of Acceleration is provided. If the common shares trade at C$2.00 for 10 consecutive trading days, the Company may, at its option, convert the debenture into shares at the same conversion terms of C$0.90, upon receipt of notice conversion.

Proceeds received by the Company from the Offering will be used for general working capital purposes.

Currently, CAD 1.5 million of this funding has been committed. Closing of the Offering is expected to occur on or about August 15, 2022 (the “Closing Date”) and is subject to regulatory approvals, including the approval of applicable Canadian securities regulators and the TSXV.

Any expression of interest can be sent by e-mail to [email protected]

About Skylight Health Group

Skylight Health Group (NASDAQ: SLHG; TSXV: SLHG) is a healthcare services and technology company, striving to positively impact patient health outcomes. The Company operates a multi-state primary healthcare network in the United States comprised of physical practices providing a range of services ranging from primary care, subspecialty care, allied health care and laboratory/diagnostic testing. The company is focused on helping small independent practices transition from a traditional fee-for-service (FFS) model to value-based care (VBC) through tools such as proprietary technology, analytics data and infrastructure. In an FFS model, payers (commercial and government insurers) reimburse using an encounter-based approach. This emphasizes the volume of patients per day. In a VBC model, providers provide care that aims to keep patients healthy and minimize unnecessary healthcare expenditures that are not proven to maintain patient well-being. This emphasizes quality rather than volume. VBC will lead to better patient outcomes, reduced delivery costs and improved financial performance of existing practices.

Forward-looking statements

This press release may contain predictions, estimates or other information that may be considered forward-looking within the meaning of applicable securities laws. Although these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our views only as of the date of this release. Please keep in mind that we do not undertake to revise or publicly release the results of any revisions to these forward-looking statements in light of new information or future events. When used herein, words such as “looking ahead”, “believe”, “continue”, “build” or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements we have made herein are frequently discussed in our filings with securities regulators in Canada and the United States. , including the Securities and Exchange Commission, available at: www.sec.govand Canadian Securities Administrators, available at www.sedar.comand on our website at skylighthealthgroup.com.

For more information, visit our website or contact:

Investor Relations:
Jackie Kelly
[email protected]
416-301-2949

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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