Premier Products Group, Inc. Retains Exploratory Counsel
Premier Products Group, Inc. (PMPG) has retained exploratory counsel regarding the issuance of PMPG shares to note holders of its subsidiary, Valley High Mining Company (VHMC). The company’s attorney has asked the Transfer Agent to halt these share issuances, asserting that some note holders were not entitled to PMPG stock. CEO Tony Hicks believes these improperly issued shares may have negatively impacted PMPG's stock in recent weeks. Additionally, PMPG recently recovered 50,000,000 shares as part of a debt settlement.
- PMPG recovered 50,000,000 shares from a recent debt settlement, improving its stock position.
- The issuance of PMPG shares to unauthorized VHMC note holders may have negatively affected PMPG's stock value over the past 45 to 60 days.
WOODLAND, CA / ACCESSWIRE / February 24, 2021 / Premier Products Group, Inc. (PMPG), (OTC PINK:PMPG) announced today they have obtained Exploratory Counsel into the matter of Note Holders of PMPG's subsidiary Valley High Mining Company (VHMC), received PMPG free trading common shares on note conversions. PMPG's attorney issued a letter to the Transfer Agent to stop issuing PMPG shares to Valley High Mining's Note Holders.
"Our attorneys are looking into the matter of shares being issued to VHMC Note Holders that were not entitled to PMPG stock. It is my belief and opinion those shares affected PMPG stock over the last 45 to 60 days and PMPG will be demanding those shares back when we complete our findings. Under the Holding Company Reorganization Section 251(g) of Delaware General Corporation Law, VHMC is a private company of PMPG and was reorganized as such back in 2018," states Tony Hicks, Chairman and CEO of PMPG.
On February 22, 2018, Premier Products Group, Inc. and Valley High Mining Company completed a corporate reorganization pursuant to which Valley High Mining Company, became a direct, wholly-owned subsidiary of a newly formed Delaware corporation, and Premier Products Group, Inc. (the "Holding Company"), which became the successor issuer. In other words, the Holding Company became the public entity.
On February 16th, 2021 PMPG recently settled a dispute on a debt on another matter and 50,000,000 shares were returned to PMPG common share stock.
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
Twitter: PMPG_INC
(818) 798-1878
SOURCE: Premier Products Group, Inc.
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https://www.accesswire.com/631719/Premier-Products-Group-Inc-Retains-Exploratory-Counsel
FAQ
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