PMPG retains Exploratory Counsel in the matter of Note Holders selling shares:
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.
