Premier Products Group, Inc. Announces Decision to Sell Valley High Mining Company
Premier Products Group, Inc. (PMPG) announced the signing of a Letter of Intent to sell Valley High Mining Company (VHMC) to Regal Holdings International, LTD (RHIL). This transaction will be executed as a share exchange, ensuring PMPG shareholders maintain their equity interest in VHMC. For instance, if a shareholder owns 100 shares of PMPG, they will own 100 shares of VHMC post-transaction. The sale is expected to complete by March 31, 2021, pending due diligence by both parties.
- Shareholders will retain equity interest in VHMC post-sale.
- The transaction may enhance shareholder value by consolidating interests.
- None.
WOODLAND HILLS, CA / ACCESSWIRE / March 10, 2021 / Premier Products Group, Inc. (PMPG), (OTC PINK:PMPG) announced today they signed a Letter of Intent to sell Valley High Mining Company (VHMC) to Regal Holdings International, LTD (RHIL). The sale will be a share exchange for VHMC, a Delaware-based company.
On February 22, 2018, PMPG and VHMC completed a corporate reorganization pursuant to which VHMC became a direct, wholly-owned subsidiary of a newly formed Delaware Corporation and Premier Products Group, Inc. (the "Holding Company"), became the successor issuer. VHMC was originally organized under the laws of the State of Utah on November 14, 1979, as Valley High Oil, Gas & Minerals, Inc.
"Upon closing of the sale, current PMPG Shareholders will have the same equity interest in VHMC. For example, if a PMPG Shareholder currently holds 100 shares of PMPG common stock, upon closing of the sale of VHMC, the PMPG Shareholder will now have 100 shares of common stock of VHMC. In my opinion, I see this as a bonus for our loyal PMPG Shareholders, " states Chairman and CEO Tony Hicks.
PMPG anticipates the completion of the sale of VHMC on March 31, 2021, or sooner, pending due diligence by both parties.
About RHIL: RHIL is an asset-based wealth management company that provides companies with credit facilities to complete real estate and technology projects since 2012.
About PMPG: Premier Products Group Inc (PMPG) engages in acquiring technology companies, developing SmartRoad and Smart City infrastructures.
Safe Harbor Statement:
Except for historical information, certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance such statements will prove accurate and actual results, and future events could differ materially from those anticipated in such statements. The Company cautions these forward-looking statements are qualified by other factors. The Company undertakes no obligation to publicly update any statements in this release.
CONTACT:
Tony Hicks, Chairman & CEO
tony@pmpginc.com
www.pmpginc.com
(818) 798-1878
SOURCE: Premier Products Group, Inc.
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