VANCOUVER, B.C., Feb. 14, 2018 (GLOBE NEWSWIRE) — Premier Diversified Holdings Inc. (“Premier” or the “Company“) (CSE:PDH) announced today that it is making a normal course issuer bid (the “Bid”) through the facilities of the Canadian Securities Exchange. The Company is executing a normal course issuer bid at this time as its board of directors and management believe that the Company’s value is not adequately reflected in its current price.
Under the Bid, Premier will purchase up to 5% of the issued and outstanding common shares, being 8,181,750 common shares. The normal course issuer bid start date will be February 20, 2018 and will not extend beyond 12 months. Any purchases will be made by Premier at the prevailing market prices of the shares at the time of purchase. All shares purchased will be cancelled. The actual number of shares purchased, timing of purchases and the price at which the shares are bought will depend upon future market conditions and potential alternative uses for Premier’s cash resources.
The member the Company will be using is Scotia Wealth Management of Suite 1100, 650 West Georgia Street, Vancouver, B.C. V7M 1W1, Phone: 604.646.1707.
Premier is commencing the Bid because it believes that, from time to time, the market price of its common shares may not fully reflect the underlying value of Premier’s business and its future business prospects. Premier believes that at such times the purchase of common shares would be in the best interests of the Company. Such purchases are expected to benefit all remaining shareholders by increasing their equity interest in Premier.
About Premier Diversified Holdings Inc.
Premier is a British Columbia company which operates in diversified industries. It acts as a holding company (either directly or through a subsidiary) that may be active in the management of its subsidiary companies to varying degrees. Information about Premier may be found at www.pdh-inc.com.
On behalf of the Board of Directors
President, CEO and Director
For further information, contact:
Sanjeev Parsad, President and CEO
Phone: (604) 678.9115 ext 205
E-mail: email@example.com Web: www.pdh-inc.com
The Canadian Securities Exchange (CSE) has not reviewed the adequacy or the accuracy of the contents of this document. Company information can be viewed here: www.thecse.com. Further information regarding the Company can be found on SEDAR at ww.sedar.com.
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: statements related to the Bid, Bid mechanics, number, price and means of purchase of shares under the Bid, and start and end dates of the Bid.
Many factors may cause actual results to be materially different, and certain assumptions are used to develop forward-looking information, including the following: that the market price of Premier’s common shares does not adequately reflect the Company’s value; that the purchase of the common shares of Premier by the Company is in the best interests of Premier and that such purchase would benefit remaining shareholders. Also, results may be impacted by a change in management’s intentions, a change in the Company’s financial outlook and business strategy, and / or that working capital expectations for Premier may differ than current management expectations and working capital will be insufficient to meet expenditures or to complete any or all of the Bid.
Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking statements. Risk factors related to Premier, an investment in Premier and their potential effects may be accessed through Premier’s profile on SEDAR at www.sedar.com