Skylight Health To Wind Down What Little Remains Of Operations After Foreclosure
After seeing its lenders foreclosure on certain of its US operations, Skylight Health (TSXV: SLHG) is reporting that it no longer has any remaining material operations in the US, and is now in the process of dissolving the remainder of the US subsidiaries.
At the same time, the company is reportedly taking efforts to maximize the remaining value of the few corporate assets it still has. This process however is being forced to be expedited to the next 90 days as a result of the lack of remaining liquidity in the company.
At the same time, executives have jumped ship as the winddown proceeds. CEO Prad Sekar, President Kash Qureshi, and CFO Farooq Akhter have all exited the company, and will now assist the company through the remaining winddown process via a consulting capacity.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
