Premier Diversified Holdings Inc. closes loan
VANCOUVER, British Columbia, January 15, 2021 (GLOBE NEWSWIRE) – Premier Diversified Holdings Inc. (“First“or the”Company“) (TSXV: PDH) announces that it has entered into a loan agreement with MPIC Fund I, LP (“MPIC“) for a secured loan of up to $ 90,000 (the”ReadyThe loan matures on January 11, 2022 and bears interest at the rate of 6% per annum. The loan is secured by all current and subsequently acquired assets of the company and has the same priority as all previously granted loans. to the company by MPIC, the loan will be used for working capital.
The Company does not issue any securities and does not pay any premium, commission or finder’s fees on the loan. The loan is repayable at any time without penalty. The company expects to repay the funding upon receipt of funds from some of its other investments.
Disclosure of Related Party Transactions
Because MPIC is a controlling person of Premier, the loan constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101. Protection of holders of minority securities in special transactions (“MI 61-101“). It was determined that the loan was exempt from the conditions for obtaining a formal appraisal or minority shareholder approval based on Articles 5.5 (b) and 5.7 (1) (f) of Regulation 61 -101.
Premier does not have any securities listed or listed on any of the specified markets listed in section 5.5 (b) of MI 61-101. Premier relies on the exemption from minority shareholder approval provided in 5.7 (1) (f) of MI 61-101, as the loan was obtained by Premier from MPIC on reasonable commercial terms which are no less advantageous to Premier only if the loan had been obtained. of a person not dealing at arm’s length with Premier. In addition, the loan is not convertible, directly or indirectly, into equity or voting shares of Premier or a subsidiary of the issuer, or otherwise participating in nature, or repayable under the principal or interests, directly or indirectly, in shares or securities with voting rights. of Premier or a subsidiary of the issuer.
The loan is subject to review and acceptance by the TSX Venture Exchange.
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 the potential for significant returns. It can act as a holding company (either directly or through a subsidiary) and can participate in the management of subsidiaries to varying degrees.
On behalf of the board of directors
President, CEO and Director
Neither the 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 does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of the securities in jurisdictions where such an offer, solicitation or sale would be illegal. Any offering made will be made in accordance with available prospectus exemptions and limited to persons to whom the securities may be sold in accordance with the laws of those jurisdictions, and to persons authorized to sell the securities in accordance with the laws of those jurisdictions.
Additional information relating to the Company is available on SEDAR at www.sedar.com.
Do not broadcast in the United States of America.
Legal Notice Regarding Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are stated expectations or intentions. Forward-looking statements in this press release include statements regarding the loan terms, including the due date (s), that PDH will repay MPIC’s loans as set out in the press release and that the net proceeds of the loan will be used as indicated in this news. Release. Factors that could cause actual results to differ materially include, but are not limited to, the following: that any income earned by PDH will be insufficient to repay loans to MPIC, that the terms of different loans may be changed, that the management or board of directors of PDH may use its income or other funds for other purposes, that the capital raised will be insufficient capital to accomplish our intentions and that capital alone may not be sufficient for us to grow our business, and that additional complications or unforeseen obstacles from COVID-19 may negatively impact Premier and / or MPIC. Investors are cautioned not to place undue reliance on forward-looking statements. It is not our policy to update forward-looking statements.