CALGARY, Alberta, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Sanjeev Parsad ("Sanjeev") announces that he has filed an early warning report (the "Early Warning Report") under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the closing of the previously announced reverse takeover (the "Transaction" or the "RTO") whereby Sanjeev indirectly acquired shares of Premier Diversified Holdings Inc. (the "Company" or "PDH").
In connection with the RTO (i) AJA Health and Wellness Ltd. ("AJA") amalgamated with a wholly-owned subsidiary of the Company, 2564858 Alberta Inc., pursuant to the terms of an amalgamation agreement dated June 3, 2024, resulting in an amalgamated Alberta corporation, which is a wholly-owned subsidiary of the Company; (ii) Assured Diagnosis Inc. ("ADI") amalgamated with a wholly-owned subsidiary of the Company, 2564891 Alberta Inc., pursuant to the terms of an amalgamation agreement dated June 3, 2024, resulting in an amalgamated Alberta corporation, which is a wholly-owned subsidiary of the Company; and (iii) the Company purchased 1,500,000 shares in the capital of AJA Therapeutics Inc. ("ATI") from James Viccars, Elizabeth Bryant Viccars and Deluxe Holdings Inc., pursuant to a share purchase agreement dated June 3, 2024, resulting in ATI being a subsidiary owned by the Company and one of the Company's subsidiaries. After giving effect to the Transaction, common shares in the capital of the Company ("Common Shares") were issued to shareholders of ATI, AJA, and ADI.
Prior to the Transaction, Sanjeev held 5,000 Common Shares personally, and 1,470,785 Common Shares indirectly through MPIC Fund I LP ("MPIC"). Shares held by MPIC are controlled by its general partner, Corner Market Capital US Inc., a partially-owned subsidiary of Corner Market Capital Corp. Sanjeev and Alnesh Mohan exercise control or direction over Corner Market Capital Corp. Prior to the completion of the Transaction, Sanjeev had ownership or control over 31% of the issued and outstanding Common Shares.
On closing of the Transaction, Sanjeev holds 975,494 Common Shares personally, 51,639,942 Common Shares indirectly through MPIC, and 500,000 Common Shares indirectly through Deluxe Holdings Inc. Sanjeev exercised control or direction over shares held by Deluxe Holdings Inc. As a result of the Transaction, Sanjeev has ownership or control over approximately 61% of the Common Shares on a non-diluted basis.
Sanjeev does not currently have any plan to acquire or dispose of additional securities of the Company. However, Sanjeev may acquire additional securities of the Company, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position, depending on market conditions, reformulations, and/or other relevant factors.
A copy of the Early Warning Report filed by Sanjeev will be available under the Company's profile on SEDAR+ at www.sedarplus.ca.
The TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of Premier Diversified Holdings Inc.
CONTACT INFORMATION:
Sanjeev Parsad
1199 West Pender Street
Suite 680
Vancouver, BC V6E 2R1
Telephone: 1-604-678-9115
