VANCOUVER, British Columbia, March 08, 2019 (GLOBE NEWSWIRE) -- Corner Market Capital Corp. ("CMCC"). This press release is being disseminated in connection with the filing of an early warning report (the "Early Warning Report") dated March 8, 2019 regarding the acquisition of securities of Premier Diversified Holdings Inc. (the "Company") by CMCC of Suite 301-3185 Willingdon Green, Burnaby, BC, V5G 4P3.
As a result of acquisitions made by way of direct purchase from the Company pursuant to a private placement offering, CMCC indirectly acquired an aggregate of 7,500,000 units ("Units") of the Company, each unit comprised of one common share (the "Shares") of the Company and one share purchase warrant ("Warrant") at a price of $0.05 per Unit on March 8, 2019. The price was paid in cash to the Company, for aggregate consideration paid of $375,000.
CMCC is a 65% shareholder of Corner Market Capital U.S. Inc. (“CMC US”). CMC US is the general partner of MPIC Fund I, Limited Partnership ("MPIC"). The Shares were acquired through MPIC and are registered in MPIC's name.
Immediately following the acquisition, CMCC indirectly owns and controls a total of 77,566,695 Shares, representing approximately 45.32% of the currently issued and outstanding Shares of the Company (on an undiluted basis). MPIC is the registered holder of the Shares. CMCC and MPIC are joint actors.
CMCC and its joint actors may acquire additional Shares of the Company to maintain their current percentage holdings and to avoid dilution of their holdings. CMCC and its joint actors do not currently intend to dispose of Shares of the Company; however CMCC may increase or decrease its beneficial ownership or control depending on market or other conditions.
A copy of the related Early Warning Report may be found on www.SEDAR.com under the profile of Premier Diversified Holdings Inc.
DATED March 8, 2019.
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