TUSTIN, CA--(Marketwired - Dec 28, 2015) - Premier Holding Corporation (OTCQB: PRHL) owns and operates two subsidiaries: The Power Company (TPC), an energy reseller, and Energy Efficiency Experts (E3), an ESCO that markets green products and services.
On December 18, 2015 the company provided notice to shareholders of a shareholders meeting to be held December 29, 2015 in Costa Mesa, California. For those who cannot attend this meeting the company has scheduled its 2016 annual shareholders meeting for April 10th. Notice and confirmation of that meeting will be sent early next year.
CEO and President Randall Letcavage reports that in anticipation of an aggressive 2016 strategic agenda, the Board of Directors has approved certain measures to allow for more nimble corporate operations. The first action, which is detailed in two recent 8K filings, authorizes the issuance of Series B Voting Convertible Stock. 250,000 shares of this stock was purchased by President/CEO Letcavage for $70,000 and grants temporary rights for the next three years, specifically voting rights at 1,000 votes per share. This allows the company to have a quorum at the upcoming shareholders meeting, which would be virtually impossible to ensure without such action.
This also allows the company to move more quickly toward its strategic plan toward a NASDAQ listing. There is no economic advantage associated with this purchase. The Series B stock was purchased at $0.28 per share and after three years will convert to common stock at four times, making the price per share $0.07, which is at or greater than the price of the stock on the day of the transaction. The funds for this transaction come from monies Mr. Letcavage loaned to the Company.
Mr. Letcavage states that this is a necessary step, which is one of many, including strengthening the Board of Directors, signing several broker/dealer agreements, hiring new accounting professionals and holding our annual shareholders meeting. All of this is in preparation for the up-listing to a senior exchange. In addition, the company intends to open offices in New York City and work with its investment bankers and consultants to make one or more acquisitions in the area to be able to service several groups that have relationships with hundreds if not thousands of properties in New York that are prime candidates for Energy Efficiency Experts (E3) as well as The Power Company (TPC). In addition, this action will ensure the company remains on schedule for establishing the electricity supplier company in Q1 of 2016. The Supplier is a major piece of the overall strategy of the company.
About Premier Holding Corporation
Under the corporate motto, "Everything Energy", Premier is an energy holding company focused on acquiring and integrating energy companies as synergistic subsidiaries. The Company accumulates residential and commercial clients in deregulated markets from all subsidiaries and cross sells energy and energy efficiency products and services, maximizing profit potential and minimizing cost of client procurement. In addition, Premier Holding provides top line management and financial support, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information visit PRHL Investors Relations www.prhlcorp.com.
About The Power Company (TPC)
The Power Company USA, LLC is a professional energy services firm offering brokerage and consulting services with a progressive and unique perspective on energy management based in Chicago, Illinois. Their mission is to assist companies in reducing and managing their electricity expenses. Their diverse portfolio of energy providers, transparent pricing, and unparalleled industry experience offers customers the freedom of exploring all of their options for choosing the best plan and provider. Operating in all currently deregulated states, including Texas, New York and Illinois, TPC and its partners/suppliers have provided an invaluable service to its clients. Their team has consulted and/or serviced such prominent companies, organizations and governmental entities such as: The City of Dallas, Ralcorp, Choice Hotels, Apex Hospital Systems, Mercedes Dealerships, Leona's Restaurant Group, McDonald's, and many others. Because of the large amount of business transacted and their long-standing relationships with Regional Energy Suppliers, TPC is assured to provide the most competitive prices in the industry. For more information visit: www.thepowercompany.com
About Energy Efficiency Experts (E3)
E3 is an Energy Services Company (ESCO) formed by PRHL to provide the best of breed solutions to its clients by utilizing proprietary technologies and high level industry relationships. By maintaining a "product agnostic" approach, E3 will prescribe the best solution for the unique circumstances of its clients after careful survey and analysis. Through its ever-growing acquisitions and alliances, E3 strives to provide the most current, and fully-vetted solutions in energy generation and energy reduction technologies, as well as management tools which capture the client for future opportunities. Recent acquisitions include Active ES Lighting Controls technology and The Power Company. Strategic alliances include Orion Energy Systems, Muni-Fed Energy, Nor Cal Reps, Western Glass and Restoration and Tinting, and Energy Innovation Enterprises. These alliances further advance E3's business strategy of providing only those technologies that have proven themselves in the field in both technical sophistication/reliability and financial justification. For more information visit: www.prhlcorp.com.
Premier Holding Corp. Safe Harbor
This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.