PDC Biological Health Group Corporation

May 15, 2015 16:15 ET

PDC Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 15, 2015) - PDC Biological Health Group Corporation (CSE:PHG) ("PDC" or the "Company") announces that the Company has defaulted in its obligations to one of its shareholders pursuant to the Security Agreement. According to the Loan Agreement between PDC and the shareholder, the shareholder has the right to accelerate PDC's obligation to repay the entire unpaid principal plus interest immediately and to take legal actions to enforce compliance with the Security Agreement. The Company is evaluating its options with respect to the enforcement.

Please refer to the Company's prior information circular of October 21st, 2013, and the Company's management discussion and analysis for the period ended June 30th, 2014, for more information regarding the enforcement.

Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Providers (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business of the Company and the potential outcome of the Petition. These statements are subject to a number of risks and uncertainties, in particular there is no guarantee that the Petition will be resolved to the satisfaction of the Company. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf except as required by law.

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