Premier Diversified Holdings Inc. closes loan

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VANCOUVER, British Columbia, December 23, 2020 (GLOBE NEWSWIRE) – Premier Diversified Holdings Inc. (“First“or the”Society“) (TSXV: PDH) announces that it has entered into a loan agreement with MPIC Fund I, LP (“MPIC“) for a secured loan with a principal amount of up to $ 40,000 (the”To lend“). The Loan matures on December 21, 2021 and bears interest at the rate of 6% per annum. The Loan is secured by all current and acquired property of the Company and has equal priority with all previously granted loans to the Company. by MPIC The Loan will be used for working capital.

The Company does not issue any securities, nor does it pay any premium, commission or intermediation commission on the Loan. The Loan is repayable at any time without penalty. The Company expects to repay the funding when it receives 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 61-101The loan was found to be exempt from the requirements for obtaining a formal appraisal or minority shareholder approval based on sections 5.5 (b) and 5.7 (1) (f) of NI 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 in 5.7 (1) (f) of MI 61-101 because 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 from a person dealing at arm’s length with Premier. In addition, the loan is not convertible, directly or indirectly, into shares or voting securities of Premier or any subsidiary of the issuer, or otherwise participating in nature, or repayable in principal or interest. , 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.

Amended loan agreement with MPIC Fund I, LP.

Premier entered into a loan agreement with MPIC on December 12, 2019 with a principal amount of $ 200,000 and a maturity of December 12, 2020. MPIC and Premier have agreed to extend the maturity date by twelve months until December 13. 2021.

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 significant return potential. It can act as a holding company (either directly or through a subsidiary) and can participate to varying degrees in the management of subsidiary entities.

On behalf of the board of directors

“Sanjeev Parsad”

Sanjeev Parsad
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 securities in jurisdictions in which such an offer, solicitation or sale would be illegal. Any offer made will be 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.

Further 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 contained in this press release include statements regarding the terms of the loan, including the maturity date (s), that PDH will repay the MPIC loans as set out in the press release and that the net proceeds of the loan will be used as indicated in this press release. Release. Factors that could cause actual results to differ materially include, but are not limited to, the following: the income that PDH realizes will be insufficient to repay the loans to MPIC, the terms and conditions of the various loans are subject to change, the management or board of directors of PDH may use its income or other funds for other purposes, which the capital raised will be insufficient to accomplish our intentions and the capital alone may not be sufficient to enable 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. Our policy is not to update any forward-looking statements.


        

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