VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 30, 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 the closing of its non-brokered private placement offering (the "Offering") of common shares of the Company ("Shares") of 3,200,000 Shares at $0.125 per Share for aggregate gross proceeds of $400,000. The Shares will be subject to a hold period expiring on May 31, 2017. No finder's fees or commissions were paid in connection with the Offering.
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 4,126,000 common shares through its wholly-owned subsidiary Premier Diversified Holdings (Bermuda) Ltd. (37.50% on an undiluted basis). 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 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 the funds may be reallocated for sound business reasons. 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.