Premier Development & Investment, Inc. to Amend Articles in Order to Capitalize and Eliminate Certain Long Term Liabilities and All Short Term Loans Totaling no Less Than $29 Million
LAS VEGAS, June 03, 2026 (GLOBE NEWSWIRE) -- Premier Development & Investment, Inc. (OTC: PDIV) (“The Company” or “Premier”) filed a Supplementary Filing on OTCIQ on June 2, 2026 detailing the Amendments to its Articles to create unsecured and interest free Preferred Stock (“Preferred”) and with an “iron clad” inability to convert the Preferred and for a period of not less than two years.
At this time, we are capitalizing long term liabilities in the amount of not less than $27 million.
The amount capitalized in respect of all short term liabilities will be decided and enacted upon in the last week of this month being the close of our Q2 Reporting Period. We expect to expend some $1.1 million in cash costs in Q2 pertaining to Capex, Professional Fees and extraordinary expenses.
This follows on from our cancellation of $6 million of Convertible Loan Notes and announced on May 21, 2026.
We remain in discussions with other Lenders whom may or may not elect to convert into Preferred Stock, thereby possibly increasing this aforesaid amount of Preferred being issued. There are no indications that any of these other Lenders will elect to do so.
This will be concluded in and during Q2 for the period ending June 30, 2026. This will include the $6 million of unsecured and outstanding interest free aged Convertible Loan Notes cancelled and converted into unsecured and interest free Long Term Liabilities in and during last week.
We strongly recommend that our shareholders scrutinize the transactions as set out in detail in this OTCIQ filing. This also deals with other actions including but not limited to a new Class of “Super Voting” Preferred Stock and a possible substantial restricted “Class “A” Common Stock issuance.
A Link to this Filing for a detailed synopsis and our rationale: www.otcmarkets.com/file/company/financial-report/570152/content
To view all of Premier’s Regulatory Filings: https://www.otcmarkets.com/stock/PDIV/disclosure
All parties are in full agreement on all terms and are all awaiting upon the External Attorneys to both Premier and the other parties to complete the final drafts of these various Agreements; to that extent, we have been advised that all parties will be in receipt of the same on June 3, 2026. We confirm that these relate to Premier’s interests in the Lithium and Uranium Exploration Properties, namely “Hombre”, “Stonewall Flat” and “Silverpeak”.
If all parties are in receipt of the final revised draft Agreements from the external Attorneys by today, we are fairly confident that the same will be signed and filed on OTCIQ by end of this week. Any further delay from external Attorneys will result in the filing and consummation of these transactions by day(s).
Given the materiality of these pending transactions and in the amount of $110 million, we continue to advise our shareholders to exercise extreme caution in their dealings in our Common Stock, and until such time as all of these transactions have been filed, thereby placing our shareholders in a position to make appropriate investment and/or trading decisions.
ABOUT PREMIER:
Premier is in the business of Lithium and Uranium exploration in Nevada through “Silverpeak”, “Stonewall Flat” and “Hombre” encompassing some 3,800 acres. Premier has Rare Earth Exploration properties in New Mexico through “Gallinas Mountains”. In addition, we hold options over Oil & Gas Wells in Oklahoma. We now hold 49.99% the outstanding Common Stock of GNCC Capital, Inc. (OTC: GNCP), a Company engaged in the ownership of Gold and Silver Exploration Projects.
Forward-Looking Statements:
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.
Contact Information:
Telephone: (702) 992- 0494
E Mail: corporate@premiergroupinc.us
Temporary Investor Relations Contact (Being replaced by an Investor Relations Firm):
E Mail: ir@premiergroupinc.us
Website: www.premiergroupinc.us (Final construction underway)
Social Media:
https://www.facebook.com/PremierGroupInc
https://www.instagram.com/premier_investment_pdiv/
https://www.linkedin.com/company/premier-development-investment-inc
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