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Premier Diversified Holdings Inc. Announces Closing of Unit Purchase of MyCare MedTech Inc. and Share Purchase of Sequant Reinsurance Holdings Ltd.

Not for dissemination in the United States of America.

VANCOUVER, British Columbia, Dec. 20, 2017 (GLOBE NEWSWIRE) -- Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) announces that on December 19, 2017, it acquired 371,428 units ("Units") of MyCare MedTech Inc. ("MMI"), a telemedicine company which uses communication technology to deliver virtual medical consultations with licensed healthcare providers for non-emergency conditions through its app GOeVisit. The purchase price of the Units was $0.35 per Unit, for total consideration of $130,000 in cash.

Each Unit is comprised of one Class A Common share ("MMI Share") and one half of a share purchase warrant ("MMI Warrant") of MMI. Each whole MMI Warrant will be exercisable to purchase an additional MMI Share at $0.50 until December 31, 2018. Sanjeev Parsad, Premier President and CEO, sits on the board of directors of MMI.

MMI is a private company incorporated under the laws of Alberta and is a Canadian telemedicine company which provides virtual medical consultations with licensed healthcare providers through computers, tablets and mobile devices. The GOeVisit medical team can provide diagnosis, alternate remedies and/or prescriptions for over 30 non-emergency conditions and uncomplicated medical concerns such as a sore throat, stomach virus, upper respiratory infection (e.g. bronchitis), strain or sprain, sinus infection, urinary tract infection, rash, allergy, headache, pink eye, burn or laceration. GOeVisit is available 24/7 and its certified healthcare professionals include licenses nurse practitioners and doctors. More information is available at: www.goevisit.com.

Premier also announces that on December 19, 2017 it acquired 100,000 common shares ("Shares") of Sequant Re Holdings Limited ("SRHL") at USD$0.50 per common share for total consideration of USD$50,000. The acquisition was made through Premier's wholly-owned Bermuda subsidiary company, Premier Diversified Holdings (Bermuda) Ltd. ("Premier Bermuda"), which is the registered holder of the Shares. The purchase price was paid in cash by Premier Bermuda, from a loan made by Premier.

Following this acquisition, Premier holds a total of 6,626,000 common shares of SRHL, approximately 47.35% of the issued and outstanding shares of SRHL, all of which are held indirectly through Premier Bermuda.

SRHL is an exempted company registered in Bermuda. SRHL's wholly owned subsidiary, Sequant Reinsurance Company Limited ("Sequant Re") is a reinsurance company licensed as a Class 3 commercial insurance company under the Insurance Act 1978 (Bermuda) and registered as a segregated accounts company under the Segregated Accounts Companies Act 2000 (Bermuda). Sequant Re underwrites various reinsurance transactions and collateralizes its obligations through the issuance of insurance-linked securities ("ILSs"). The ILSs are offered to third party investors, and the capital from the sale of the ILSs is used to fund the reinsurance business. Further information about Sequant Re may be found here: www.SequantRe.com.

Premier continues to hold the right to appoint three directors to the Board of SRHL, provided that it maintains a minimum of 10% of the issued and outstanding common shares of SRHL. Premier previously nominated Alnesh Mohan, Sanjeev Parsad and G. Andrew Cooke to the board of SRHL as of December 12, 2014. All three of Premier's nominees continue to act as directors of SRHL. Additionally, Messrs. Parsad and Mohan are directors and officers of Premier and Mr. Cooke is a director of Premier. Mr. Cooke has been appointed to act as Chairman of the Audit and Financial Committee of SRHL and will oversee the financial management of SRHL. Messrs. Parsad and Mohan do not, and do not intend to, participate in management or daily operations of SRHL.

Further Information

Further information regarding Premier may be found on Premier’s website at www.pdh-inc.com and filed on SEDAR at www.sedar.com.

Premier Diversified Holdings Inc. is a conglomerate which participates in diversified industries through its acquisitions of assets and/or securities of public and private entities which it believes have potential for significant returns. It may act as a holding company (either directly or through a subsidiary) and may participate in management of its subsidiaries to varying degrees. Its current holdings include interests in a medical diagnostic clinic located in Canada, in a reinsurance business located in Bermuda, in a Canadian telemedicine company, in a Canadian craft beer brewery and in two Vancouver real estate development partnerships.

On behalf of the Board of Directors

"Sanjeev Parsad"

Sanjeev Parsad
President, CEO and Director

For further information, contact:
Sanjeev Parsad, President and CEO

Phone: (604) 678.9115
Cell: (604) 612.3965

Fax: (604) 678.9279
E-mail: sparsad@pdh-inc.com
Web: www.pdh-inc.com

The Canadian Securities Exchange (CSE) has not reviewed the adequacy or the accuracy of the contents of this document.  Company information can be viewed here: www.thecse.com.  Further information regarding the Company can be found on SEDAR at ww.sedar.com. 

Legal Notice Regarding Forward Looking Statements: This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Forward-looking statements in this news release include the telemedicine company and the reinsurance company will operate their respective businesses as described and that these companies will generate income. Factors that could cause actual results to be materially different include but are not limited to the following: that one or both of the companies will operate its respective business differently than described. Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking statements.

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