Premier Diversified Holdings Inc.
CNSX : PDH

Premier Diversified Holdings Inc.

November 05, 2015 14:14 ET

Premier Diversified Holdings Inc. Completes Share Purchase

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 5, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE:PDH) is pleased to announce that on November 3, 2015 it acquired 158,000 common shares of Sequant Re Holdings Limited ("SRHL") at USD$2.00 per common share for total aggregate consideration of USD$316,000. Premier is acquiring the shares of SRHL for investment purposes, and to allow it to maintain its current equity position in SRHL. Prior to completion of this share purchase, Premier held 3,010,000 common shares of SRHL (approximately 32.37%). Premier will now hold a total of 3,168,000 common shares of SRHL (approximately 34.10%).

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: www.SequantRe.com.

Premier continues to hold the right to appoint three directors to the Board of SRHL, provided that it maintains a minimum of 10% of the issued and outstanding common shares of SRHL. Premier previously nominated Alnesh Mohan, Sanjeev Parsad and G. Andrew Cooke to the board of SRHL as of December 12, 2014. All three of Premier's nominees continue to act as directors of SRHL. Additionally, Mr. Mohan is a director of Premier, Mr. Parsad is a director and officer of Premier and Mr. Cooke is a director of Premier. 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.

"Premier was very fortunate to meet Guy Cloutier and his vision of creating Sequant Re," stated Sanjeev Parsad, CEO of PDH. "With our continued support and the energetic efforts of Sequant Re's wonderful team, we believe significant positive events may unfold through 2015 and 2016!"

Further Information

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 and investments in the 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 investee entities to varying degrees. Its current holdings include interests in medical diagnostic clinics located in Canada and China and in a reinsurance business located in Bermuda.

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.cnsx.ca. Further information regarding the Company can be found on SEDAR at www.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 hold the purchased shares of SRHL for investment purposes only, that SRHL will operate its business as described in this news release, that Messrs. Parsad and Mohan will not participate in management or daily operations of SRHL, and Mr. Parsad's expectation of significant positive events unfolding for SRHL in 2015 and 2016. 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, that Premier or Messrs. Parsad and/or Mohan will become active in management and/or daily operations of SRHL, and that no significant positive developments will occur for SRHL in 2015 or 2016. Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking statements.

Contact Information