Business

Premier Diversified Holdings Inc. Announces New Loan Contracts and Modified Loans for Canadian Business Journal

Not for widespread use in the United States.

Vancouver, British Columbia, March 24, 2022 (GLOBE NEWSWIRE) –

Lending agreement

Premier Diversified Holdings Inc. (“”Premier” or “society“) (TSXV: PDH) announced that it has signed a loan agreement with MPIC Fund I and LP (“)MPIC“) If the principal is a secured loan of up to US $ 100,000 (“)loan“). The loan will expire on March 22, 2023 and will accrue an annual interest rate of 6%. The loan is secured on all of our current and post-acquisition assets and MPIC previously issued our company. The loans are given the same priority as all the loans made to. The loans are used for operating funds (including the premier partially owned subsidiaries Purposely Platform Inc. and MyCareMedTech Inc.) and the addition of the remote medical company MyCareMedTech Inc. May be used to acquire equity.

We do not issue securities or pay bonuses, fees or finder fees on loans. Loans are always repaid without penalty. By design, Platform Inc. and MyCareMedTech Inc. are profitable and we expect to soon receive repayments from such entities and be able to repay some of the funds payable to MPIC.

Transaction disclosure of related parties

Since MPIC is the administrator of the premiere, the loan constitutes a “related party transaction” in the sense of Multilateral Instrument 61-101. Protection of minority securities holders in special transactions (“”MI 61-101“). The loan has been determined to be exempt from the requirement to obtain formal valuation or minority shareholder approval under Sections 5.5 (b) and 5.7 (1) (f) of MI 61-101. rice field.

Premier does not have securities listed or listed on any of the specific markets listed in Section 5.5 (b) of MI 61-101. Premier relies on MI 61-101’s exemption from minority shareholder approval in 5.7 (1) (f). This is because the loan was obtained from MPIC under reasonable commercial terms that are less favorable to the premier than if the loan was obtained. From those who trade with premier and arm length. In addition, the loan may not be directly or indirectly converted into shares or voting securities of the premier or issuer’s subsidiary. Of a premier or a subsidiary of the issuer.

Loans are subject to review and approval by the TSX Venture Exchange.

Modified loan contract

Premier signed a specific loan agreement with MPIC on March 29, 2021 with a principal of US $ 120,000. The loan was scheduled to expire on March 29, 2022. MPIC and Premier have agreed to extend the maturity date to March 29, 2023.

About Premier Diversified Holdings Inc.

Premier Diversified Holdings Inc. participates in a variety of industries through the acquisition of securities and / or assets of public and private companies that we believe have the potential to generate significant returns. It may function as a holding company (either directly or through a subsidiary) and, to varying degrees, participate in the management of the subsidiary.

On behalf of the board of directors

“Sanjeev Parsad”

Sanjeev Parsad
President, Chief Executive Officer and Director

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.

This press release does not constitute an offer to sell or solicit a purchase offer, nor does it constitute the sale of securities in jurisdictions where such offer, solicitation or sale is illegal. All offers offered are limited to those who can sell securities in accordance with the laws of such jurisdiction, and who are permitted to sell securities in accordance with the laws of such jurisdiction, subject to the exemption of available prospectuses. Will be done.

For more information about us, please visit SEDAR’s www.sedar.com.

Not for widespread use in the United States.

Legal Notice Regarding Forward-Looking Statements: This news release contains “forward-looking statements” in the sense of applicable Canadian securities law. Forward-looking statements indicate expectations or intents. The forward-looking statements in this news release include loan terms, including maturity dates, PDH’s repayment of loans from MPIC as disclosed in the news release, and loans as described in this news release. Contains a statement that the net income of is used. Factors that can cause significant differences in actual results include, but are not limited to: Revenues made indirectly by PDH through operating subsidiaries are insufficient to repay loans to MPIC, operating subsidiaries may not generate revenues, or various loan terms may be modified. PDH’s management or board may use its income or other funds for other purposes, such that the capital raised is insufficient to achieve our intent. Retaining and capital alone may not be sufficient to grow the business, the issuer’s financial position may not improve, remain unchanged, or even worse, delay the timing of expected revenue or receipt of revenue May increase general administration costs and may be adversely affected by complications or unexpected failures due to COVID-19 or other factors t Premier. Investors are warned against placing excessive reliance on forward-looking statements. It is not our policy to update the forward-looking statements.


CBJ News Maker

Premier Diversified Holdings Inc. Announces New Loan Contracts and Modified Loans for Canadian Business Journal

Source link Premier Diversified Holdings Inc. Announces New Loan Contracts and Modified Loans for Canadian Business Journal

Related Articles

Back to top button