TUSTIN, CA--(Marketwired - Mar 13, 2014) - Premier Holding Corporation (OTCQB: PRHL) today announced that it has received a signed Letter of Intent from PDC Capital Group LLC, (PDC) to fund the company up to $25 million. PDC is highly confident that it can raise between $5 million and $25 million in EB5 funds for PRHL utilizing its international resources.
This initial document is based on PDC's preliminary determination that PRHL qualifies for PDC's program for EB5 funding, subject to routine due diligence customary for this type of project.
PRHL has presented PDC with a plan to add a third subsidiary -- a "licensed power supplier" or LPS. The supplier is expected to dramatically increase revenue and have a positive effect on profitability as PRHL, through its subsidiaries, will have the ability to capture more businesses and a larger percentage of the revenue streams from the sale of deregulated power. PRHL's subsidiary, The Power Company (TPC) will provide marketing support to the supplier, however the supplier will also be able to recruit, market and wholesale to other like-kind TPC entities known as brokers or resellers. The combination of distribution i.e. the "LPS," marketing i.e. The Power Company along with the ability to market green and energy-efficient products and services through another PRHL subsidiary, Energy Efficiency Experts, provides PRHL the ability to maximize earnings on a per-client basis and allows each division access to prospects and clients at a minimal cost of garnering a client.
PRHL will be expected to create jobs as part of the funding requirements, and with 1,000 jobs PRHL may be able to obtain the full $25 million. PRHL currently has created over 100 jobs out of one location in Chicago and the funding will allow PRHL to replicate one or more offices in 12 of the other deregulated states (12 - 24 new offices over the next 36 months) in which it chooses to conduct business.
CEO and President of Premier, Randall Letcavage, stated: "We are extremely pleased with the prospect of PDC as a funding partner and are looking forward to creating and keeping jobs in the United States. We believe the PRHL/PCG relationship will allow us to build out a dynamic and sustainable business model that will support our goals of growing our 'Everything Energy' model."
The letter of intent was signed March 8th and allows for 60 days due diligence and additional mutually agreeable terms. PDC plans to market the project in China and other oversees countries in its network. PDC has to date completed 10 EB5 projects. Emilio Francisco CEO of PDC stated, "We are very confident that both PRHL and PDC will make a successful team and that this is just the beginning."
EB5 funding projects are a specialty of PDC. The investor visa category was created by Congress in the Immigration Act of 1990 to encourage the flow of foreign capital into the U.S. economy and to create jobs for U.S. workers. There are 10,000 available visas in the investor visa category annually, 3,000 of which are reserved for foreign investors who want to participate in an investor visa pilot program designed for targeted employment areas. PDC sees the PRHL model as fitting perfectly in this program.
Premier Holding Corp. Safe Harbor
This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
About Premier Holding Corporation
The Company provides financial support and management expertise, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies. The Company also intends to acquire clean technology companies and/or green products and services that are accretive and that can be seamlessly integrated and utilize the overall economics of such products and services for the benefit of its customers. Through subsidiaries we offer renewable energy production, energy efficiency products and services to commercial middle-market companies, Fortune 500 brands, developers and management companies of large-scale residential developments. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information visit PRHL Investors Relations: www.prhlcorp.com.
About PDC Capital Group, LLC
PDC Capital Group LLC, at its heart is a development company that is specializing in EB-5 investment projects. PDC has successfully completed 10 EB5 transactions. PDC searches out projects that will be successful on a variety of levels. Projects that will be successful for its investors, successful for the community where the project is located, and successful for PDC. From evaluating a project, to construction or build out, to marketing a project, success is simply the bottom line.
PDC Capital Group LLC (PDC) was originally established to acquire, entitle and develop land. They have built a reputation for excellence and professionalism. PDC's methodology has received national acclaim and awards for numerous projects resulting in the firm's expansion into specialties of urban design, new community development, fiscal and environmental analysis, and entitlement strategy. The firm is known for its competence in managing physically and politically complex developments. PDC utilizes ventures and associations for the direction and development of significant projects as part of its development approach. For more information see: http://pdccapitalgroup.com