Premier Diagnostic Health Services Inc.

Premier Diagnostic Health Services Inc.

August 12, 2014 15:27 ET

Premier Diagnostic Health Services Inc. Announces New Company Director

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 12, 2014) -


Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) is pleased to announce the appointment of Yang, Gang to its board effective August 5, 2014. Mr. Yang will also serve as a member of the Executive Committee of the board together with director Sanjeev Parsad and Non-Executive Chair and director Dr. Simon Sutcliffe. Further, Mr. Yang was appointed Consultant of both Premier Diagnostics (Hong Kong) Limited and Premier Diagnostic (China) Corporation and will participate in the senior management of the Company's Chinese subsidiaries.

Mr. Yang's most recent experience was as the CEO of the financial services division of an international corporation based in China. Mr. Yang has experience in new venture development, general management and strategic investments and is a highly-regarded executive with over 20 years experience in state and multi-national companies.

Mr. Yang is a Chinese national and fluent in Mandarin. He holds an MBA from the Richard Ivey School of Business, University of Western Ontario, Canada, a BA from Jilin University China, and has completed a number of advanced training and development courses in law, finance and leadership. Mr. Yang holds numerous other appointments, including as a guest professor in finance at the China University of International Business and Economics, and in leading China asset finance and business associations. Mr. Yang's appointment is subject to approval by the Canadian Securities Exchange.

Dr. Sutcliffe commented as follows: "We are very excited to welcome Mr. Yang to the Board of Premier Diagnostic Health Services Inc. and look forward to Mr. Yang's leadership of our Company's growth in China. Under Mr. Yang's stewardship, we anticipate expansion of our existing Premier Diagnostic clinic in Beijing, and the creation of new opportunities." Mr. Yang's appointment coincides with the resignation of director Ross Greenwood. Citing confidence in Premier's new leadership and direction, Mr. Greenwood, a director since 2011, tendered his resignation following his recent heart surgery. Mr. Greenwood, 69, wishes to devote more time to a healthy retirement and the board thanks him for his contributions and years of service.

In connection with his appointment, Mr. Yang was issued 700,000 options to purchase common shares of the Company pursuant to the Company's stock option plan, as well as a signing bonus of 3,000,000 common shares (the "Signing Bonus Shares") at a deemed value of $0.05 per share. The Signing Bonus Shares are subject to a hold period under applicable securities laws, and will also be placed into voluntary escrow by Mr. Yang until August 1, 2015, subject to the terms of an escrow agreement.

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

Simon Sutcliffe, M.D., FRCP, FRCP(C), FRCR, Director and Non-Executive Chair

The Canadian Securities 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 Gang Yang's participation in the senior management of the Company's Chinese subsidiaries, anticipated expansion of our existing Premier Diagnostic clinic in Beijing and placement of the Signing Bonus Shares into escrow. Factors that could cause actual results to be materially different include that we may not be able to expand our Chinese operations as planned or at all. 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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