VANCOUVER, British Columbia, Dec. 04, 2020 (GLOBE NEWSWIRE) --
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 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 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.