Premier Development reports $130M lithium and uranium deals pending

Premier Development & Investment, Inc. (OTC: PDIV) announced it expects to execute agreements related to its lithium and uranium exploration properties in Nevada, valued at a combined $130 million, according to a press release issued June 24, 2026.

The company said all parties have agreed to terms covering three exploration properties — "Hombre," "Stonewall Flat," and "Silverpeak" — and that the agreements are expected to be filed within the week. Premier noted filings could occur outside of regular market hours or on weekends.

The company also disclosed a separate set of transactions, described as unrelated, totaling no less than $20 million, which it said are expected to be filed the following week.

Premier said it is capitalizing long-term liabilities of at least $27 million, a portion of which will be converted into Class B Preferred Convertible Super Voting Stock subject to a holding period of no less than two years, interest free and unsecured. Following the close of the primary transactions, the company said it expects to capitalize an additional $85 million.

The company said it filed a supplementary disclosure on June 2, 2026 with OTC Markets detailing amendments to its Articles of Association to create unsecured, interest-free Preferred Stock that cannot be converted for a minimum of two years.

All capitalization actions are contingent on the amended Articles of Association being accepted by the Nevada Secretary of State on or before June 30, 2026. If that deadline is not met, the transactions would fall into the company's third quarter accounting period.

Premier said it expects to spend approximately $1.1 million in cash during the second quarter on capital expenditures, professional fees, and other expenses. The announcement follows the company's previously disclosed cancellation of $6 million in convertible loan notes on May 21, 2026.

The company advised shareholders to exercise caution in trading its common stock until all transactions have been formally filed.

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