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Skylight Health Appoints Director with Deep Capital Markets and Finance Expertise, Grace Mellis, to the Board

/EIN News/ -- TORONTO, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Skylight Health Group Inc. (TSXV: SHG; OTCQX: SHGFF) (“Skylight Health” or the “Company”), is pleased to announce the appointment of Grace Mellis to the Company’s Board of Directors.

Ms. Mellis has a robust background in strategy and finance leadership roles with over 28 years of success and experience:

  • Almost a decade at JP Morgan Chase serving as Managing Director, Head of International Strategy, and Investor Services CFO for EMEA within the Corporate and Investment Bank.
  • Former CFO and VP of Corporate Finance and Business Intelligence at Greendot Corporation, a US $3.1B market cap NYSE listed company.
  • Founder and director of IGA Capital which provides consulting and advisory services to primarily early-stage companies.  
  • Mentor and investor with Techstars, a global start-up incubation platform.
  • She holds an MBA from Harvard Business School and a BA from Harvard University.

"We are pleased to welcome Grace Mellis as a new independent director to the Skylight board," said Prad Sekar, Co-founder and CEO. "The addition of Ms. Mellis, who brings significant strategic management and finance expertise into her role as board member, complements our existing board of directors' skills and experiences, and offers a deep understanding of the US capital markets which we will utilize as a strategic resource as we continue to broaden our shareholder base. The US capital markets is looking for exposure to primary care clinics and I believe this story will be best received by American investors who understand first-hand this trillion-dollar healthcare opportunity.”

Ms. Mellis says, “I am honored to join Skylight in this exciting time and help to drive our expansion strategy forward and build deeper relationships with our practices and patients across the United States. I look forward to working with the skilled board of directors as we continue to execute our strategy, drive profitability and enhance value for all our shareholders."  

Effective today, Skylight Health is also pleased to announce that it has retained PI Financial Corp. (“PI”) to provide market making services in accordance with TSX Venture Exchange policies.

PI will trade the securities of Skylight Health on the TSX‐V for the purposes of maintaining an orderly market. In consideration of the services provided by PI, the Company will pay PI a monthly cash fee of $5,000 on a month-to-month term. Skylight Health and PI are unrelated and unaffiliated entities. PI will not receive shares or options as compensation. The capital used for market making will be provided by PI.

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 or contact:

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

Currency Usage, Cautionary and Forward-Looking Statements

All currency contained in this Press Release represent Canadian Dollars unless otherwise stated.

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.

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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