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  • Eric Tsung, who joined the board of Premier earlier this week, has over 15 years of experience in financial services and consulting
  • Premier will grant Tsung 8,000 options to purchase common shares of the company at an exercise price of $0.47 per share according to its stock option plan
  • Premier currently has 130,000 outstanding options and 333,068 options available for grant
  • Premier entered into certain loan agreements with MPIC in 2020 with an aggregate principal amount of US$420,000, and MPIC has agreed to extend the maturity dates until fall of next year
  • Premier Diversified Holdings Inc. (PDH) is unchanged trading at $0.47 per share as of 12:21 p.m. EST

Premier Diversified Holdings Inc. (PDH) has amended loan agreements, announced a new director and received funds from Arcola Real Estate.

Eric Tsung, who joined the board of Premier earlier this week, has over 15 years of experience in financial services and consulting. Eric is a principal of a professional services firm and provides CFO, controller and day-to-day accounting support services to private and public companies. He is serving as CFO of Eco Oro Minerals Corp. (EOM) and several private companies which are seeking to be listed in Canada.

Premier will grant Mr. Tsung 8,000 options to purchase common shares of the company at an exercise price of $0.47 per share according to its stock option plan.

The options will have a term of five years from November 25, 2021.

Premier has in place a rolling 10 per cent 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 based on 10 per cent of the outstanding shares at the date of grant, which is 471,068.

Premier currently has 130,000 outstanding options and last granted options in December 2020.

With the proposed grant, a total of 333,068 options remains available for grant under the plan.

Premier holds an interest in the Arcola Project, a townhouse development located in Burnaby, British Columbia.

Construction on the project has finished and Arcola has distributed $450,000 to Premier.

The funds distributed were subject to a 10 per cent holdback, which Arcola has advised will be distributed to project investors in February 2022.

Premier entered into certain loan agreements with MPIC in 2020 with an aggregate principal amount of US$420,000. These loans were supposed to mature on September 1, 2021, October 8, 2021, October 22, 2021, and November 20, 2021. MPIC and Premier have agreed to extend the maturity dates to next year.

Premier Diversified Holdings Inc. (PDH) is unchanged trading at $0.47 per share as of 12:21 p.m. EST.

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