Premier Diversified Holdings Inc. Update on Certain Loans, MyCare MedTech Inc.

Not for dissemination in the United States of America.

VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) — Premier Diversified Holdings Inc. (“Premier” or the “Company“) (TSXV: PDH) announces that it has entered into certain loan agreements with MPIC Fund I, LP (“MPIC“) for secured loans in the aggregate principal amount of up to USD$610,000 (the “Loans“). The Loans mature on July 15, 2021, September 1, 2021, October 7, 2021, October 22, 2021 and November 22, 2021 and bear interest at a rate of 6% per annum. The Loans are secured with all of the present and after-acquired property of the Company and rank equally in priority with all of the loans previously made to the Company by MPIC.

The Company is not issuing any securities, or paying any bonus, commission or finder’s fees on the Loans. The Loans are repayable at any time without penalty. The Company expects to repay the financing upon receiving funds from some of its other investments.

Related party transaction disclosure

As MPIC is a control person of Premier, the Loan constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security holders in Special Transactions (“MI 61-101“). The Loan has been determined to be exempt from the requirements to obtain a formal valuation or minority shareholder approval based on sections 5.5(b) and 5.7(1)(f) of MI 61-101.

Premier does not have securities listed or quoted on any of the specified markets listed in section 5.5(b) of MI 61-101. Premier is relying on the exemption from minority shareholder approval in 5.7(1)(f) of MI 61-101 as the loan was obtained by Premier from MPIC on reasonable commercial terms that are not less advantageous to Premier than if the loans had been obtained from a person dealing at arm’s length with Premier. Further, the loans are not convertible, directly or indirectly, into equity or voting securities of Premier or a subsidiary entity of the issuer, or otherwise participating in nature, or repayable as to principal or interest, directly or indirectly, in equity or voting securities of Premier or a subsidiary entity of the issuer.

The Loans are subject to review and acceptance by the TSX Venture Exchange.

Amended Loan Agreements with MPIC Fund I, LP.

Premier entered into a loan agreement with MPIC on April 25, 2019 with a principal amount of US$200,000. The original maturity date of the loan was April 27, 2020. The maturity date was extended to July 27, 2021. All other terms of the loan remain the same.

Premier entered into a loan agreement with MPIC on July 10, 2019 with a principal amount of US$200,000. This loan matured on July 10, 2020. MPIC and Premier agreed to extend the maturity date by twelve months to July 10, 2021.

Premier entered into a loan agreement with MPIC on September 4, 2019 with a principal amount of US$300,000. This loan matured on September 4, 2020. MPIC and Premier agreed to extend the maturity date by twelve months to September 6, 2021.

Premier entered into a loan agreement with MPIC on November 7, 2019 with a principal amount of US$300,000. This loan matured on November 7, 2020. MPIC and Premier agreed to extend the maturity date by twelve months to November 8, 2021.

MyCare MedTech Inc. renews agreement with Bright.md

PDH is very pleased to announce that MMI has renewed its partnership with Bright.md for the GOeVisit online telehealth service. PDH is excited to work with MMi’s long-term initiatives in telemedicine. More information about Bright.md may be found at https://bright.md.

Amended Loan Agreement with MyCare MedTech Inc.

Premier entered into a loan agreement with MyCare MedTech Inc. (“MMI“) on September 4, 2019, which was subsequently amended in December 2019, January 2020 and February 2020. This loan agreement was amended again in June 2020. The amended agreement changed the previous secured loan made to MMI by increasing the principal amount which may be loaned by…