Premier Diagnostic Health Services Inc. Announces Conversion of Convertible Debentures and Preferred Shares

BURNABY, BRITISH COLUMBIA--(Marketwired - Oct. 21, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) announces that it has received conversion notices from certain debentureholders that they wish to convert the principal amount and accrued and unpaid interest owing on certain convertible debentures ("Debentures") into units ("Units") of the Company. Each Unit consists of one Common share of the Company and one share purchase warrant ("Warrants"), exercisable to purchase an additional Common share at $0.05 and expiring on March 31, 2016 and July 9, 2016. The total principal amount of the Debentures is $450,000 with 6% interest payable thereon, and is convertible at $0.05 per Unit.

The Company further announces that it has received conversion notices from certain holders of convertible preferred shares of its subsidiary, Premier Diagnostic Center (Vancouver) Inc. that they wish to convert their preferred shares and the declared and unpaid fixed rate 6% dividends owing thereon into Common Shares of the Company. Each preferred share is convertible into 20 Common shares of the Company.

A total of 19,306,885 Common shares and 9,196,885 Warrants are issuable upon the conversion. A total of 19,256,635 Common shares and warrants (representing 99% of the issued shares) were issued to insiders of the Company.

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.

On behalf of the Board of Directors

Sanjeev Parsad, President, CEO and Director

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: www.cnsx.ca. Further information regarding the Company can be found on SEDAR at ww.sedar.com.