Canada-based company buys stake in Sequant

Premier Diversified Holdings, a Canada-based investment company, has completed a private placement, part of the proceeds of which will be used to make an investment in Sequant Reinsurance Holdings, the Bermuda-based Class 3 insurer.

The non-brokered offering of common shares will raise aggregate gross proceeds of up to $450,000. The first closing is expected to occur on or about August 24, 2017.

The net proceeds of the offering will be used to fund the acquisition of an interest in Sequant Reinsurance, to fund an acquisition of an interest in MyCare MedTech, an Alberta telemedicine company, and for general working capital.