Not for dissemination in the United States of America.
VANCOUVER, British Columbia, April 08, 2019 (GLOBE NEWSWIRE) -- Premier Diversified Holdings Inc. (" Premier " or the " Company ") (TSXV: PDH) is pleased to announce the results of its annual general meeting (" AGM ") of shareholders held on April 3, 2019. A total of 63.58% of the outstanding shares were voted at the AGM.
Shareholders voted to approve the appointment of management's nominees to the board of directors, being Sanjeev Parsad, Alnesh Mohan, Dr. Simon Sutcliffe, G. Andrew Cooke, Donald Durand and Marta Davidson. All other resolutions put forth for shareholder consideration were approved, including the re-approval of the Company's Advance Notice Policy and its rolling 10% stock option plan.
Mr. Parsad commented, "We are pleased with the results of the AGM and look forward to the opportunity to create value for PDH shareholders."
Prior to the AGM, the Company filed the CEO's annual letter to shareholders on SEDAR on April 2, 2019. The annual letter contains Mr. Parsad's remarks on the last year of the Company's operations and provides an update on its holdings.
The Company continues to raise funds through its unit private placement announced by news releases dated February 4, 2019 and March 8, 2019. The units offered consist of one Common share and one Share purchase warrant to acquire an additional share for five years for $0.05. Each unit is $0.05. The second tranche of the private placement is not yet fully subscribed. The estimated closing date for the second tranche is April 22, 2019.
The net proceeds of the Offering will be used for general working capital and may be used to fund the acquisition of an interest in a public or private entity. The Issuer may, in its discretion, determine to use the proceeds for other business purposes as identified by the board of directors and management.
Questions regarding the private placement may be directed to the CEO, Sanjeev Parsad, at sparsad@pdh-inc.com ; questions regarding subscription information and subscriptions may be directed to the Corporate Secretary at mdavidson@pdh-inc.com .
About Premier Diversified Holdings Inc.
Premier Diversified Holdings Inc. participates in diversified industries through its acquisitions of 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 subsidiary entities to varying degrees.
On behalf of the Board of Directors
"Sanjeev Parsad"
Sanjeev Parsad President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdictions in which such offer, solicitation or sale would be unlawful. Any offering made will be pursuant to available prospectus exemptions and restricted to persons to whom the securities may be sold in accordance with the laws of such jurisdictions, and by persons permitted to sell the securities in accordance with the laws of such jurisdictions.
Further information regarding the Company can be found on SEDAR at www.sedar.com .
Not for dissemination in the United States of America.
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 intends to close an additional tranche of the private placement of up to total proceeds of $750,000 around April 22, 2019 and that the net proceeds of the Offering will be used as stated in this news release. Factors that could cause actual results to be materially different include but are not limited to the following: that we may not be able to raise sufficient capital to accomplish our intentions and that even if we do close the maximum private placement, capital alone may not be sufficient for us to grow our business. Growth depends on several factors including market conditions. Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking statements.
For further information, contact: Sanjeev Parsad, President and CEO Phone: (604) 678.9115 Fax: (604) 678.9279 E-mail: Web: www.pdh-inc.com
