Business
Premier Development & Investment, Inc. - Clarification Of Our Investment In GNCC Capital, Inc. And Our 2020 Planning
Premier Development & Investment, Inc. - Clarification Of Our Investment In GNCC Capital, Inc. And Our 2020 Planning.
About this update from Premier Development & Investment, Inc.
[{"type":"text","content":"\n\n\n\nPremier Development & Investment, Inc. - Clarification Of Our Investment In GNCC Capital, Inc. And Our 2020 Planning\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nPremier Development & Investment, Inc. - Clarification Of Our Investment In GNCC Capital, Inc. And Our 2020 Planning\nPR Newswire\nLAS VEGAS, Dec. 18, 2019\n\n\n\nLAS VEGAS, Dec. 18, 2019 /PRNewswire/ -- Premier Development & Investment, Inc. (OTC: PDIV) (\"The Company\" or \"Premier\") announces its intentions in respect of its majority shareholding and investments in GNCC Capital, Inc. (OTC: GNCP) (\"GNCP\"); as follows:\nPremier, to date, has acquired 15 billion shares of GNCP Voting Common Stock at a price of $0.0001 per share; representing 41.78% of GNCP's outstanding Voting Common Stock. In addition, Premier has acquired a total amount of $16,952,016 GNCP Series \"A,\" \"B\" and \"C\" Non-Voting Convertible Preferred Stock; convertible at a 50% discount to GNCP's trading price. Premier has committed a total sum in the amount of $35,404,032 in the acquisition of these interests in GNCP. The cost of these investments in GNCP are being capitalized through the issuance of a new Premier Convertible Preferred Stock; these being interest free and cannot be converted for a period of not less than two years from the date of their issuance; thereby preserving Premier's current Capital Structure.. \nPremier is preparing a very comprehensive \"Management Discussion & Analysis Report\" setting out its rationale for this sizeable investment and as to how we intend to maximize value and returns for our shareholders and for the GNCP shareholders. This will be made publicly available within the next few days.\nPremier is treating its holdings in GNCP solely as an investment. Premier acquired its interests in GNCP at the lowest possible price and its Directors are of the belief that GNCP's market capitalization and its stock price should in theory, enhance in value; creating a win-win situation for both the Premier and GNCP shareholders. After much thought, careful planning and over a number ...