Not for widespread use in the United States.
Vancouver, British Columbia, November 26, 2021 (GLOBE NEWSWIRE) –
Modified loan agreement with MPIC Fund I, LP (“MPIC”)
Premier Diversified Holdings Inc. (“”Premier” or “society“) (TSXV: PDH) is an MPIC and specific loan with a total principal of US $ 420,000 on September 1, 2020, October 7, 2020, October 23, 2020, and November 20, 2020. The agreement was signed. These loans were scheduled to expire on September 1, 2021, October 8, 2021, October 22, 2021, and November 20, 2021, respectively. MPIC and Premier. Agreed to extend the maturity dates to September 1, 2022 and October 8, 2022, October 22, 2022 and November 22, 2022, respectively.
Appointment of new directors and grant of stock options
Premier announced that Eric Tsung has joined Premier’s board of directors on November 23, 2021, subject to TSXV approval. Tsung has over 15 years of experience in financial services and consulting. He has extensive experience in internal and external financial reporting, operations, M & A, public and private financing.
Currently, Tsung is a Principal of Professional Services Company, providing Chief Financial Officer, Comptroller, and Routine Accounting Support Services to private and public enterprises in Canada and the United States. He is currently Chief Financial Officer of Eco Oro Minerals Corp. (CSE: EOM) and several private companies seeking to be listed in Canada. Tsung was also the administrator of an OTC-listed multinational public company. Previously, he was Vice President of Finance at Premier, but resigned to assume the role of Director.
Mr. Tung is a Certified Public Accountant (CPA, CGA), Certified Public Accountant Association (FCCA) (UK) and has a Master of Business Administration (MBA).
Subject to stock exchange approval, Premier grants Mr. Tung 8,000 options (“options”) to purchase our common stock at an exercise price of $ 0.47 per share in accordance with our stock options plan. increase. The option period is 5 years from November 25, 2021 (“Period”). One-third will be vested on the grant date. One-third will be vested on the first anniversary of the grant date. And one-third will be vested on the second anniversary of the grant date.
Premier implements a rolling 10% stock option plan, as approved annually by shareholders at the Annual General Meeting of Shareholders. The total number of listed shares reserved for issuance under this Plan is based on 10% of the issued shares as of the grant date and is currently 471,068 shares. The premiere currently has 130,000 unpaid options and the last option granted in December 2020. With the proposed grant, a total of 333,068 options remain available under the plan.
The latest information on Arcola real estate development
Premier is interested in the Alcora project, a townhouse development in Burnaby, British Columbia (a suburb of Vancouver, British Columbia). Construction of the project was completed and Arcola distributed $ 450,000 to Premier in two installments paid in September and October 2021. The distributed funds were subject to a 10% hold in accordance with the requirements of the City of Burnaby. Project investor in February 2022.
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 entities 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, 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 statements regarding the maturity date and payment of funds by Arcola. Factors that can cause significant differences in actual results include, but are not limited to: Revenues made by PDH indirectly through its operating subsidiaries or through the return of funds by Arcola are insufficient to repay the loan to MPIC. The terms of various loans may be amended and PDH’s management or board of directors may use their income or other funds for other purposes, and the capital raised is our intent. Insufficient capital to achieve and capital alone may not be sufficient for us to grow our business, the issuer’s financial condition does not improve, does not change, or even declines, Increasing expected revenue or ongoing costs, including general administration costs, and complications or unexpected disability due to COVID-19 or other factors that may delay the timing of receipt of expected revenue or revenue will adversely affect Premier. May be given. Investors are warned against placing excessive confidence in forward-looking statements. It is not our policy to update any forward-looking statement.
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Premier Diversified Holdings Inc. will amend the loan agreement, announce a new director, and receive funding from Arcola Real Estate in the Canadian Business Journal.
Source link Premier Diversified Holdings Inc. will amend the loan agreement, announce a new director, and receive funding from Arcola Real Estate in the Canadian Business Journal.