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Premier Development to convert $29M debt into preferred stock, aiming to improve financial stability.

Company Fundamentals
03 Jun 2026
GlobeNewsWire
View Source
Neutral
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Premier Development & Investment, Inc. plans to amend its articles to convert at least $29 million of long-term and short-term liabilities into unsecured, interest-free preferred stock, with no conversion allowed for at least two years. This move follows the recent cancellation of $6 million in convertible loan notes and aims to strengthen the company's balance sheet amid ongoing discussions with lenders. The company is also considering issuing a new class of super voting preferred stock and restricted common stock. These changes relate to Premier's lithium and uranium exploration projects and are expected to be finalized by the end of Q2 2026, with shareholders advised to exercise caution until all transactions are officially filed.

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