Skylight Health Group Announces Closing of $13.8 Million Bought Deal Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, Dec. 30, 2020 (GLOBE NEWSWIRE) — Skylight Health Group Inc (CSE:SHG; OTCQX: SHGFF) (“SHG” or the “Company”) is pleased to announce it has closed its previously announced bought deal offering of 13,800,000 common shares (the “Common Shares”, each a “Common Share”) in the capital of the Company at a price of C$1.00 per Common Share for aggregate gross proceeds to the Company of C$13,800,000 (the “Offering”), inclusive of the full exercise of the over-allotment option.

The Offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters led by Echelon Capital Markets as co-lead underwriter and sole bookrunner, Beacon Securities Ltd. and PI Financial Corp. as co-lead underwriters and including Mackie Research Capital Corp., Canaccord Genuity Corp. and Raymond James Ltd (the “Underwriters”).

Skylight intends to use the proceeds of the Offering for strategic M&A activities and general corporate purposes.

“We are pleased to see the strong demand and support from this sophisticated group of investors who share our vision of working diligently, yet aggressively, to advance our company from these early growth stages with highly accretive, strategic, and profitable acquisitions,” says Prad Sekar, Co-Founder and Chief Executive Officer of Skylight Health. “With proceeds from this financing, we are excited to execute on our robust acquisition pipeline, positioning us to be a national leader, while still continuing to focus on growing our bottom line organically as we add new layers of insurable services for our patients.”

The securities mentioned herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

This press release does not constitute an offer to sell or a solicitation of any offer to buy the securities in the United States, in any province or territory of Canada or in any other jurisdiction. There shall be no sale of the securities in any jurisdiction in which an offer to sell, a solicitation of an offer to buy or sale would be unlawful.

About Skylight Health Group

Skylight Health Group (CSE: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 120,000 patients, the Company’s operations servicing 14 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
Jonathan L. Robinson CFA
Oak Hill Financial
jrobinson@oakhillfinancial.ca
416-669-1001

Cautionary and Forward-Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Skylight Health’s filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements regarding the Company’s unaudited financial results and projected growth.

Although Skylight Health has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: the ability of Skylight Health to execute on its business strategy, continued revenue growth in accordance with management’s expectations, operating expenses continuing in accordance with management expectations, dependence on obtaining regulatory approvals; Skylight Health being able to find, complete and effectively integrate target acquisitions; change in laws relating to health care regulation; reliance on management; requirements for additional financing; competition; hindering market growth or other factors that may not currently be known by the Company.

There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Skylight Health disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Skylight Health does not assume any liability for disclosure relating to any other company mentioned herein.

No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.