Skylight Health Announces 75% Voluntary Share Lock-Up With 100% Lock-Up from Insiders
TORONTO, ON – January 12, 2021 – 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.”