Not for widespread use in the United States.
Vancouver, British Columbia, March 8, 2022 (GLOBE NEWSWIRE) –
Premier Diversified Holdings Inc. (“”Premier” or “society“) (TSXV: PDH) announced that it has signed a loan agreement with MPIC Funds I and LP (“)MPIC“) If the principal is a secured loan of up to US $ 120,000 (“)loan“). The loan will expire on February 10, 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 was previously our company. The loans are given the same priority as all loans made to. Loans are used for operating funds (including Premier’s partially owned subsidiaries Purposely Platform Inc. and MyCareMedTech Inc.) and are remote medical companies MyCare MedTech Inc. May be used to acquire additional equity in.
We do not issue securities or pay any bonuses, fees or finder fees on your loan. Loans are always repaid without penalty. Intentionally 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 commerce terms that are less favorable to 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 entered into specific loan agreements with MPIC on December 21, 2020, January 11, 2021, February 10, 2021 and March 10, 2021 with a total principal amount of US $ 325,000. These loans were scheduled to expire on December 21, 2021, January 11, 2022, February 10, 2022, and March 10, 2022, respectively. MPIC and Premier have agreed to extend their maturities to December 21, 2022 and January 11, 2022, respectively. 2023, February 10, 2023 and March 10, 2023.
Premier Diversified Holdings Inc.about
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
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 any forward-looking statement.
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