Premier Diagnostic Health Services Inc.

Premier Diagnostic Health Services Inc.

December 16, 2014 18:39 ET

Premier Diagnostic Health Services Inc. Completes Share Purchase

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 16, 2014) -


Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) is pleased to announce that it has acquired 3,010,000 common shares of Sequant Re Holdings Limited ("SRHL") at USD$0.50 per common share for total aggregate consideration of USD$1,505,000. Premier is acquiring the shares of SRHL for investment purposes.

SRHL is an exempted company registered in Bermuda. SRHL's wholly owned subsidiary, Sequant Reinsurance Company Limited ("Sequant Re") is a reinsurance company licensed as a Class 3 commercial insurance company under the Insurance Act 1978 (Bermuda) and registered as a segregated accounts company under the Segregated Accounts Companies Act 2000 (Bermuda). Sequant Re underwrites various reinsurance transactions and collateralizes its obligations through the issuance of insurance-linked securities ("ILSs"). The ILSs are offered to third party investors, and the capital from the sale of the ILSs is used to fund the reinsurance business. Further information about Sequant Re may be found here:

Premier has the right to appoint three directors to the Board of SRHL, provided that it holds a minimum of 10% of the issued and outstanding common shares of SRHL. Premier's purchase of 3,010,000 common shares results in it holding approximately 33.44% of the issued and outstanding common shares of SRHL. Premier's nominees, Alnesh Mohan, Sanjeev Parsad and G. Andrew Cooke, were appointed to the Board of SRHL as of December 12, 2014. Mr. Mohan is a director of Premier, Mr. Parsad is a director and officer of Premier and Mr. Cooke is a deemed insider of Premier as a director of Corner Market Capital US Inc. Mr. Cooke has been appointed to act as Chairman of the Audit and Financial Committee of SRHL and will oversee the financial management of SRHL. Messrs. Parsad and Mohan do not intend to participate in management or daily operations of SRHL.

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: 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 Premier will hold the purchased shares of SRHL for investment purposes only, that SRHL will operate its business as described in this news release, and that Messrs. Parsad and Mohan will not participate in management or daily operations of SRHL. Factors that could cause actual results to be materially different include but are not limited to the following: that the nature of Premier's investment will change and Premier or Messrs. Parsad and Mohan will become active in management and/or daily operations of SRHL. 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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