Skylight Health Announces Earnings Call and Corporate Update
TORONTO, May 11, 2022 (GLOBE NEWSWIRE) -- 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.
