Premier Diagnostic Health Services Inc.
CNSX : PDH

Premier Diagnostic Health Services Inc.

December 01, 2010 09:30 ET

Premier Diagnostic Health Services Inc. (CNSX:PDH) Announces the Offering of Two Term Sheets to Raise Funds to Expand Its China Operations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2010) - Premier Diagnostic Health Services Inc. (CNSX:PDH) ("PDH") announces the offering of two non-brokered term sheets to raise a total of $350,000.

The two non-brokered term sheets: "Offering A" and "Offering B" are offered to accredited investors.

  1. Offering A consists of 625,000 Units at $0.40 per Unit, each Unit consisting of one Share and one half Warrant, with a minimum subscription of 125,000 Units for $50,000, for a total Offering of $250,000. One Half Warrant is included with each Unit; a full Warrant entitles the holder to subscribe for a further Share of PDH for $0.60 per Share. Warrants will be non-transferable and will expire on June 30, 2011.
  1. Offering B consists of 250,000 Shares of Premier Diagnostic Health Services Inc. ("PDH") to raise a total of $100,000. The price per Share is $0.40.

Both "A" and "B" Offerings will expire at 5:00 p.m. on December 20, 2010.

The proceeds from the term sheets will be used to:

  1. Identify a second hospital in the metropolitan area of Beijing, China (in addition to PDH's already established Center), for the establishment and joint operation of a Center for Advanced Diagnostics using PET-CT scanning for the diagnosis of cancer, with the objective of entering into a definitive agreement within three months;
  2. Identify between one and three hospitals in the Pearl River Delta region of Guangdong province, China, particularly in the metropolitan area of Guangzhou, for the establishment and joint operation of Centers for Advanced Diagnostics using PET-CT scanning for the diagnosis of cancer, with the objective of entering into definitive agreements within six months; and
  3. General working capital purposes.

The non-brokered private placement offering announced November 3, 2010 was not proceeded with.

About Premier Diagnostics Health Services Inc. (CNSX:PDH)

As leaders in advanced health and education with the international medical community, PDH is rolling out its global strategy of establishing a network of Centres for Advanced Diagnostics in Canada and China. By utilizing MRI and PET-CT, the most advanced medical diagnostic imaging technology available and the production of FDG, the radiopharmaceutical tracer used in oncology PET procedures; PDH is uniquely positioned to deliver continued innovation, growth and profitability.

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