Premier Diversified Holdings Inc. Announces Option Grant and Change to Board of Directors
December 04 2020 - 4:01PM
Stock Option Grant
Premier Diversified Holdings Inc.
("Premier" or the
"Company") (TSXV: PDH) announces that, subject to
stock exchange approval, it will grant a total of 7,250,000 options
("Options") to purchase common shares of the
Company at an exercise price of $0.05 per share to directors,
officers and employees (together, the "Optionees")
pursuant to the Company’s stock option plan. The Options will have
a term of five years from December 4, 2020 (the
"Term"). For all Optionees except one director,
one-third will vest on the date of grant; one-third will vest on
the first anniversary of the date of grant; and one-third will vest
on the second anniversary of the date of grant. For one director,
all Options will vest on the date of grant.
Premier has in place a rolling 10% stock option
plan, as approved annually by shareholders at its annual general
meeting. The total number of Listed Shares reserved for issuance
under the plan is 17,133,505. Premier currently has no outstanding
options and last granted options in 2015. With the proposed grant,
a total of 9,883,505 options remain available for grant under the
plan.
Change to Board of Directors
Premier announces that Donald J. Durand has
resigned as a director effective December 4, 2020. The board thanks
Mr. Durand for his services as director and wishes him well as he
focuses on other business pursuits.
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 ParsadPresident, 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
statements regarding the grant of stock options on terms as
disclosed in this news release. Factors that could cause actual
results to be materially different include but are not limited to
the following: that PDH may not obtain the required stock exchange
approval for the option grant. 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: sparsad@pdh-inc.com
Web: www.pdh-inc.com
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