Skylight Health Announces Earnings Call and Corporate Update
11 Mayo 2022 - 4:24PM
Skylight Health Group Inc. (NASDAQ:SLHG;TSXV:SLHG (“Skylight
Health” or the “Company”), a multi-state primary care management
group in the United States, today announced that its financial
results for the first quarter of 2022 will be released after the
close of market on May 16th, 2022. The Company will host a
conference call at 8:00am EDT on the morning of May 17th, 2022 to
discuss the financial results and outlook for the Company.
If you would like to participate in the call,
details can be found below. Please dial in approximately 10 minutes
prior to the start of the call.
Conference Call Details
Date: |
May 17, 2022 |
Time: |
8:00am Eastern |
US/Canada Toll Free Dial In: |
1-800-319-4610 |
Toronto Local Dial In: |
416-915-3239 |
International Dial In: |
+1-604-638-5340 |
Call Name: |
Skylight Health Group First Quarter 2022 Financial Results |
The Company is also announcing that it has
received a notice ("Notice") from the Listing Qualifications
Department of The Nasdaq Stock Market ("Nasdaq") as a result of its
failure to timely file its Annual Report on Form 20-F for the year
ended December 31, 2021 (the "Form 20-F") as established in Nasdaq
Listing Rule 5250(c)(1) (the "Rule"). The Form 20-F is the required
annual report that the Company should file with the US Securities
and Exchange Commission (“SEC”) that incorporates its annual
financial statements which were completed and previously filed with
the SEC under Form 6-K on March 30, 2022. Due to the additional
PCAOB audit requirements for the fiscal years ended December 31,
2020 and 2019, which were not required upon the Company’s initial
listing in the US and on Nasdaq, the Company has not been able to
file the Form 20-F on time.
While the Company works to rectify this
non-compliance with its US filing requirements, trading of the
Company’s shares continues without issue on Nasdaq and TSX-V.
The Notice also disclosed that under Nasdaq
rules, the Company has 60 calendar days from receipt of the Notice,
or until July 5, 2022, to submit a plan to regain compliance with
the Rule. Upon Nasdaq approval of the Company's plan, it may grant
an exception of up to 180 calendar days from the due date of the
Form 20-F, or until October 31, 2022, to regain compliance.
However, there can be no assurance that Nasdaq will accept the
Company's plan to regain compliance or that the Company will be
able to regain compliance within any extension period granted by
Nasdaq.
The Company is also announcing the issuance of
318,259 shares which is the final issuance related to its
previously announced acquisition of River City Medical Associates
announced on February 4, 2021. All issued shares will be subject to
a four-month hold from the date of issuance and is subject to TSX-V
approval. This is the last issuance of shares being made in
relation to this acquisition.
About Skylight Health Group
Skylight Health Group (NASDAQ:SLHG;TSXV:SLHG) is
a healthcare services and technology company, working to positively
impact patient health outcomes. The Company operates a US
multi-state primary care health network comprised of physical
practices providing a range of services from primary care,
sub-specialty, allied health, and laboratory/diagnostic testing.
The Company is focused on helping small and independent practices
shift from a traditional fee-for-service (FFS) model to value-based
care (VBC) through tools including proprietary technology, data
analytics and infrastructure. In an FFS model, payors (commercial
and government insurers) reimburse on an encounter-based approach.
This puts a focus on volume of patients per day. In a VBC model,
the providers offer care that is aimed at keeping patients healthy
and minimize unnecessary health expenditures that are not proven to
maintain the patient’s well-being. This places an emphasis on
quality over volume. VBC will lead to improved patient outcomes,
reduced cost of delivery and drive stronger financial performance
from existing practices.
Forward Looking Statements
This press release may include predictions,
estimates or other information that might be considered
forward-looking within the meaning of applicable securities laws.
While 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 opinions only as of the date of this release. Please
keep in mind that we are not obligating ourselves to revise or
publicly release the results of any revision to these
forward-looking statements in light of new information or future
events. When used herein, words such as "look forward," "believe,"
"continue," "building," 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 in any forward-looking statements made by us
herein are often discussed in filings we make with the Canadian and
United States securities regulators, including the Securities and
Exchange Commission, available at: www.sec.gov, and Canadian
Securities Administrators, available at www.sedar.com, and on
our website, at skylighthealthgroup.com.
For more information, please visit our website or contact:
Investor Relations:Jackie
Kellyinvestors@skylighthealthgroup.com416-301-2949
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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