Skylight Health Group Inc V.SLHG.H

Can Anyone Explain the Lock-up?

[Baseballfury]

Hi - I know what a lock-up is, but not clear as to why a company does this in such a formal manner. Could they just not sell their shares - why go through the process of announcing a voluntary lock-up and having that agreement in place?

Wondering if anyone can provide some insight....

[Eppy]

The reason is most likely that it is a tranparent way of letting investors know that the founders are confident of the direction they have taken the company and thus commit to not selling of any of their shares.  

[ChartGuy88]

They announce this to show they are so confident about the company that they're willing to lock their shares in for 6 months. Amazing news imo. Prad has already declared that he is holding long term but this is a legit contractual way of proving to shareholders they are not looking to sell shares anytime soon. Personally I love this decision, what a great way to kick off this TSX.V listing. I&

[Baseballfury]

Thank you to both! That's helpful - I appreciate their transparency as well. It is an exciting time for this company - I came into them at $0.54, so just enjoying watching the run up :)