TORONTO, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Skylight Health Group Inc (TSXV:SHG; OTCQX: SHGFF) (“Skylight Health” or the “Company”), one of the largest multi-specialty healthcare systems in the United States, has submitted its formal application to list the Company’s common stock in the US on the NASDAQ Capital Market.
Skylight Health management believes up-listing to NASDAQ will:
- Provide additional opportunities to attract institutional and retail investors, allowing the Company to broaden its investor base in the United States and internationally.
- Increase the visibility of the Company, its growth strategy, accomplishments, and results to date.
- Accelerate growth and create a more attractive platform for enhanced M&A capability.
- Increase liquidity of the Company’s common shares; and
- Raise the Company’s overall profile and ultimately enhance shareholder value.
“We believe the Company is entering a heightened growth phase and the timing could not be better for up-listing our Shares to NASDAQ,” said Prad Sekar, Co-Founder and CEO. “Being in a position to list our common stock on the NASDAQ reflects the significant progress we have made in building our financial and liquidity standards, strengthening our corporate governance, and positioning the Company for future growth and profitability. This up-listing will provide us with a larger pool of investors that use the NASDAQ as a requirement for assembling a portfolio and allow us to broaden our offering to American investors who understand first-hand the trillion-dollar healthcare opportunity.”
Acceptance for listing Company shares is subject to approval, in part, based on the Company's ability to meet minimum listing requirements for the NASDAQ Capital Market. While the Company intends to satisfy all the applicable listing criteria, no assurance can be given that its application will be approved. A trading date will be made public once all regulatory requirements are satisfied.
The Company's common stock will continue to trade in Canada on the TSX Venture Exchange under its current symbol SHG; and until NASDAQ listing, in the U.S. and on the OTCQX under its current symbol, SHGFF.
About the NASDAQ
The NASDAQ Stock Market is global electronic marketplace for buying and selling securities. It was created by the National Association of Securities Dealers ("NASD") to enable investors to trade securities on a computerized, speedy, and transparent system. For more about the NASDAQ, go to www.nasdaq.com.
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.
Investor Relations:
Jackie Kelly
investors@skylighthealthgroup.com
416-301-2949
Cautionary and Forward-Looking Statements
Certain information in this press release, including with respect to the timing, receipt of regulatory approval for, and listing of the Common Shares on NASDAQ; and the filing of a Form 20-F Registration Statement with the SEC, constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the Company obtaining the necessary regulatory approvals to complete the listing on NASDAQ and the factors described in greater detail in the “Risk Factors” section of the Company’s current annual information form available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.