Premier Diagnostic Health Services Inc.

Premier Diagnostic Health Services Inc.

July 03, 2014 09:30 ET

Premier Diagnostic Health Services Inc. Announces $200,000 Convertible Debenture Financing

BURNABY, BRITISH COLUMBIA--(Marketwired - July 3, 2014) -


Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) announces a non-brokered private placement secured convertible debenture ("Debenture") financing in the principal amount of $200,000. The private placement is subject to approval by the Canadian Securities Exchange.

The Debenture carries interest at the rate of 6% per annum, payable on the earlier of conversion or maturity. The maturity date of the Debenture is 24 months following the date of issue of the Debenture. The Debenture is secured by a security interest in all the Company's right, title and interest in and to all its presently owned or held and after acquired or held personal property and all proceeds therefrom. The Debenture is convertible at the holder's option any time prior to or on maturity into fully paid units ("Units") at $0.05 per Unit, each Unit consisting of one share and one share purchase warrant ("Warrant"). Each Warrant is exercisable to purchase an additional common share of the Company at a price of $0.05 per share from 24 months from the date of issue of the Debenture. The Company may redeem all or any portion of the Debenture at any time prior to or on the maturity date.

The Debenture is being subscribed by MPIC Fund I, Limited Partnership ("MPIC"). Corner Market Capital Corp. ("CMCC") is a 65% shareholder of Corner Market Capital U.S. Inc. ("CMC US"). CMC US is the general partner of MPIC. Sanjeev Parsad, a director and officer of Premier, is a 45% shareholder of CMCC, a director and officer of CMCC, and a director of CMC US.

Premier will not pay any finders' fees in connection with the private placement. Proceeds of the private placement will be used for general corporate purposes in the Company's diagnostic center located in Burnaby, B.C.

About Premier Diagnostic Health Services Inc. ("PDHS")

PDHS is a Canadian company that provides, through its subsidiaries, advanced medical diagnostic tools using PET/CT technology and/or MRI technology and related diagnostic skills in Canada and in the People's Republic of China, in partnership with local medical professionals, public and private investors, hospitals and clinics. The Company's mission is to provide physicians and other health care professional with exceptional diagnostic information that will assist them in making medical decisions that lead to better outcomes for their patients. The Company's approach involves building long-term relationships regarding management, quality, and financial services that are necessary to build, operate and grow the diagnostic capacity and capability of hospitals and clinics worldwide.

On behalf of the Board of Directors

Denis Tusar, President and CEO

The Canadian Stock Exchange (CSE) has not reviewed the adequacy or the accuracy of the contents of this document. Company information can be viewed here: Further information regarding the Company can be found on SEDAR at

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