Premier Diagnostic Health Services Inc. Closes Second Tranche of Private Placement of 40,000,000 Common Shares ($7,200,000) and Over-Allotment Option of 4,588,558 Common Shares ($825,900.45)

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 17, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) is pleased to announce that it has closed the second tranche of its non-brokered private placement offering (the "Offering") of common shares of the Company ("Shares") of up to 40,000,000 Shares at $0.18 per Share for aggregate gross proceeds of up to $7,200,000. The Company also closed its Over Allotment Option of 4,588,558 shares for gross proceeds of $825,900.45. Total proceeds of the Offering and Over Allotment Option were $8,025,900.40. No finder's fees or commissions were paid in connection with the Offering or the Over Allotment.

The net proceeds of the Offering will be used to fund expansion of the Company's premier diagnostic medical clinics in China and Canada, as well as for general working capital and investment purposes. The Company anticipates that the resulting capitalization combined with new strategies to deliver earnings will be adequate to support growth.

About Premier Diagnostic Health Services Inc.

Premier 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 professionals 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

Sanjeev Parsad President, CEO and Director

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

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 net proceeds of the Offering will be used to fund expansion of the Company's premier diagnostic medical clinics in China and Canada, for general working capital and investment purposes and that the resulting capitalization combined with new strategies to deliver earnings will be adequate to support growth. Factors that could cause actual results to be materially different include but are not limited to the following: that we may not be able to raise sufficient capital to accomplish our intentions and that capital alone may not be sufficient for us to grow our business. Growth depends on several factors including patient support and winning new patients, 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.