Premier Diagnostic Health Services Inc.

Premier Diagnostic Health Services Inc.

July 31, 2014 19:14 ET

Premier Diagnostic Health Services Inc. Announces $500,000 Private Placement

BURNABY, BRITISH COLUMBIA--(Marketwired - July 31, 2014) -


Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) announces that its wholly-owned subsidiary, Premier Diagnostic Center (Vancouver) Inc. (the "Subsidiary"), intends to offer for sale, by way of private placement, up to 500,000 Class A Preferred Shares ("Subsidiary Shares") at $1.00 per share. Each of the Subsidiary Shares is convertible into twenty common shares of the Company ("Conversion Shares") for two years from the date of issuance. Declared and unpaid dividends on the Subsidiary Shares, payable by the Subsidiary, may also be converted into common shares of the Company at $0.05 per share. The offering may close in tranches.

Neither Premier nor the Subsidiary will pay any finder's fees in connection with the issuance, and both the Subsidiary Shares and any Conversion Shares will be subject to a hold period. Three insiders of Premier will subscribe for a total of 425,000 Subsidiary Shares. Of that portion, 25,000 Subsidiary Shares will be issued in settlement of debt owed to an insider of Premier. The financing is subject to CSE approval.

The Company intends to use proceeds of the financing to upgrade the Company's medical diagnostic equipment and the Subsidiary's clinic facilities in Burnaby, B.C. and for general working capital.

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

PDHS is a British Columbia 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. For a more complete business and financial profile of the Company, management encourages interested parties to view the Company's documents posted on

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

Legal Notice Regarding Forward-Looking Statements: This news release contains "forward-looking statements within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Forward-looking statements in this news release include that the Company and its Subsidiary can close a private placement of up to $500,000 and that the resulting capitalization will be adequate to support the Company's objectives of upgrading its medical diagnostic equipment and the Subsidiary's clinic facilities in Burnaby, B.C. and for general working capital. Factors that could cause actual results to be materially different include that we may not be able to raise sufficient capital to accomplish our intentions and that even if we do close the maximum private placement, capital alone may not be sufficient for us to grow our business. Growth depends on customer support and winning new customers, as well as market conditions. Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking statements.

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