BURNABY, BRITISH COLUMBIA--(Marketwired - Oct. 22, 2014) -
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) announces that it has issued a total of 19,306,885 Common shares and 9,196,885 share purchase warrants following receipt of conversion notices relating to certain convertible debentures of the Company and convertible preferred shares of its subsidiary, Premier Diagnostic Center (Vancouver) Inc. A total of 19,256,640 Common shares and warrants (representing 99% of the issued shares) were issued to insiders of the Company and are subject to hold periods expiring on November 10, 2014, December 6, 2014 and January 23, 2015.
Following the conversion, Corner Market Capital Corp. ("CMCC"), an insider of the Company, indirectly owns and exercises control and direction over 36,449,856 Common shares of the Company, being 30.12% of the issued and outstanding Common shares on an undiluted basis. CMCC is a private company of which Sanjeev Parsad and Alnesh Mohan are majority shareholders and directors and officers. Mr. Parsad is the President, CEO and a director of Premier. Mr. Mohan is a director of Premier.
About Premier Diagnostic Health Services Inc. ("PDHS")
PDHS is a Canadian company that provides, through its subsidiaries, advanced medical diagnostic tools using PET/CT technology and/or MRI technology and related diagnostic skills in Canada and in the People's Republic of China, in partnership with local medical professionals, public and private investors, hospitals and clinics.
On behalf of the Board of Directors
Sanjeev Parsad, President, CEO and Director
The Canadian Stock Exchange (CSE) has not reviewed the adequacy or the accuracy of the contents of this document. Company information can be viewed here: www.cnsx.ca. Further information regarding the Company can be found on SEDAR at www.sedar.com.