Skylight Health closes the last tranche of the previous one | Daily News Byte

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TORONTO, Dec. 20, 2022 (GLOBE NEWSWIRE) — Skylight Health Group Inc. (TSXV:SLHG; OTCKKS:SLHGF) (“Skylight Health” or the “Company”), a technology and analytics healthcare platform focused on transitioning patients to value-based care to improve healthcare outcomes and experiences in the United States, today announces the closing of the final tranche of a previously announced $5 million in convertible debenture financing (“Financing“).

The final tranche brings US$1,628,000 structured in the form of a 0% interest, asset-backed convertible debenture. Each debenture will be in a principal amount of C$1,000. Each debenture will be convertible into 1,111 common shares of the Company at a price of C$0.90 (the “Common Shares”). Upon issuance of the debenture, the holder will also receive 1,111 warrants to purchase shares (“Warrants”) of the Company.

Each Warrant entitles the holder to purchase one common share (a “Warrant Share”) at a price of C$0.64, at a price of US$0.90, for a period of 5 years from the date of issuance of the Notes. Skylight has the ability to repay the debt at any time of their choosing, without penalty, regardless of the share price.

Northland Capital Markets acted as sole placement agent for the financing. In connection with the financing, the Company paid Northland a 7% cash origination fee.

Convertible debentures, warrants and warrant repricing are subject to final approval by TSKS Venture Exchange, and all securities are subject to a standard period of four months plus one day.

About Skylight Health Group

Skylight Health Group (TSKSV:SLHG; OTCKKS:SLHGF) is a healthcare services and technology company working to positively impact patient health outcomes. The company operates a multi-state primary care network in the US consisting of physical practices that provide a range of services from primary care, subspecialty, allied health and laboratory/diagnostic testing. The company is focused on helping small and independent practices transition from traditional fee-for-service (FFS) value-based care model (VBC) through tools that include proprietary technology, data analytics and infrastructure. In the FFS model, payers (commercial and government insurers) reimburse based on an encounter-based approach. This puts the focus on the number of patients per day. In the VBC model, providers offer care that is focused on maintaining patient health and minimizing unnecessary health care costs that have not been proven to maintain patient well-being. This puts the emphasis on quality over volume. VBC will lead to improved patient outcomes, reduced delivery costs and drive better financial performance from existing practices.

Forward-looking statements

This press release may include 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 estimates, 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 opinions only as of the date hereof. Please note that we undertake no obligation to revise or publicly announce the results of any revisions to these forward-looking statements in light of new information or future events. When used herein, words such as “look forward”, “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 any forward-looking statements made herein are frequently discussed in filings we file with Canadian securities regulators and Canadian securities administrators, available at www.sedar.com and on our website, at skylighthealthgroup.com.

For more information visit our website or contact:

Investor Relations:
Jackie Kelly
investors@skilighthealthgroup.com
416-301-2949

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