VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 23, 2017) -
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.
Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE:PDH) announces that it intends to acquire units ("Units") of MyCare MedTech Inc. ("MMI"), a telemedicine company which uses communication technology to deliver virtual medical consultations with licensed healthcare providers for non-emergency conditions through its app GOeVisit. The purchase price of the Units is $0.35 per Unit. Premier intends to acquire up to $500,000 worth of Units in several tranches. The purchase price will be paid in cash.
Each Unit is comprised of one Class A Common share ("MMI Share") and one half of a share purchase warrant ("MMI Warrant") of MMI. Each whole MMI Warrant will be exercisable to purchase an additional MMI Share at $0.50 until December 31, 2018. Additionally, MMI will issue 570,000 incentive MMI Shares to Premier. Premier currently holds 2,000,000 MMI Shares. After acquiring the Units, it will hold 4,000,000 MMI Shares, approximately 27% (undiluted) of the issued and outstanding MMI Shares. Sanjeev Parsad, Premier President and CEO, is a director of MMI.
MMI is a private company incorporated under the laws of Alberta and is a Canadian telemedicine company which provides virtual medical consultations with licensed healthcare providers through computers, tablets and mobile devices. The GOeVisit medical team can provide diagnosis, alternate remedies and/or prescriptions for over 30 non-emergency conditions and uncomplicated medical concerns such as a sore throat, stomach virus, upper respiratory infection (e.g. bronchitis), strain or sprain, sinus infection, urinary tract infection, rash, allergy, headache, pink eye, burn or laceration. GOeVisit is available 24/7 and its certified healthcare professionals include licenses nurse practitioners and doctors. More information is available at: https://www.evisit.healthcare.
Further information regarding Premier may be found on Premier's website at www.pdh-inc.com and filed on SEDAR at www.sedar.com.
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 its subsidiaries 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 a Canadian craft beer brewery and in a Vancouver real estate development partnership.
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 ww.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 Premier will complete the Unit purchase, that the purchase price will be $0.35 per Unit, that Premier will pay the purchase price in cash, that the telemedicine company will operate its business as described and that the telemedicine company will generate income. Factors that could cause actual results to be materially different include but are not limited to the following: that the nature of Premier's acquisition of the Units will change, that the purchase price may change, that the reason for the purchase may change or that the telemedicine company will operate its business differently than described. Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking statements.