VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2017) -
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.
Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE:PDH)(CSE:PDH.CN) is pleased to announce a non-brokered private placement offering (the "Offering") of common shares of the Company ("Shares") of up to 3,200,000 Shares at $0.125 per Share for aggregate gross proceeds of up to $400,000. As certain subscribers may pay for their Shares in U.S. Funds, the number of Shares issued under the Offering and the gross proceeds may be adjusted to reflect foreign currency conversion rates.
There is no minimum Offering amount required to close, and the Offering may be closed in tranches. The first closing is expected to occur on or about January 30, 2017. The Shares will be issued in reliance on exemptions from the prospectus and registration requirements contained in the securities legislation in the Province of British Columbia and in the jurisdiction of residency of each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be paid in connection with the Offering. The Offering is subject to approval by the Canadian Securities Exchange.
The net proceeds of the Offering will be used to fund an acquisition of common shares of Sequant Reinsurance Holdings Ltd., a Bermuda-based reinsurance company of which the Company currently holds 4,726,000 common shares through its wholly-owned subsidiary Premier Diversified Holdings (Bermuda) Ltd. The Company anticipates that the resulting capitalization combined with new strategies to deliver earnings will be adequate to support growth.
About Premier Diversified Holdings Inc.
Premier Diversified Holdings Inc. participates in diversified industries through its acquisitions of securities and/or assets of public and private entities which it believes have potential for significant returns. It may act as a holding company (either directly or through a subsidiary) and may participate in management of subsidiary entities to varying degrees. Its current holdings include interests in medical diagnostic clinics located in Canada and China, in a reinsurance business located in Bermuda, in several Vancouver-based real estate development projects and in an online medical consulting company.
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.thecse.com. Further information regarding the Company can be found on SEDAR at www.sedar.com.
Not for dissemination in the United States of America.
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 can close a private placement of up to $400,000, that the first tranche of the Offering will close on or around January 30, 2017, that no finder's fees or commissions will be paid in relation to the Offering, that the net proceeds of the Offering will be used to acquire common shares of Sequant Reinsurance Holdings Ltd., 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 even if we do close the maximum private placement, capital alone may not be sufficient for us to grow our business. Growth depends on several factors including market conditions. Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking statements.