Mr. Sanjeev Parsad reports
PREMIER DIAGNOSTIC HEALTH SERVICES INC. ANNOUNCES CONVERSION OF CONVERTIBLE DEBENTURES AND PREFERRED SHARES
Premier Diagnostic Health Services Inc. has received conversion notices from certain debentureholders that they wish to convert the principal amount and accrued and unpaid interest owing on certain convertible debentures into units of the company. Each unit consists of one common share of the company and one share purchase warrant, exercisable to purchase an additional common share at five cents and expiring on March 31, 2016, and July 9, 2016. The total principal amount of the debentures is $450,000 with 6-per-cent interest payable thereon and is convertible at five cents per unit.
The company further announces that it has received conversion notices from certain holders of convertible preferred shares of its subsidiary, Premier Diagnostic Center (Vancouver) Inc., that they wish to convert their preferred shares and the declared and unpaid fixed-rate 6-per-cent dividends owing thereon into common shares of the company. Each preferred share is convertible into 20 common shares of the company.
A total of 19,306,885 common shares and 9,196,885 warrants are issuable upon the conversion. A total of 19,256,635 common shares and warrants (representing 99 per cent of the issued shares) were issued to insiders of the company.
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