Premier Development & Investment to Convert $29 Million in Debt to Equity

Premier Development & Investment, Inc. announced on Wednesday that it plans to amend its articles of incorporation to eliminate at least $29 million in debt. The company intends to convert both long-term liabilities and all outstanding short-term loans into equity as part of a broader effort to restructure its balance sheet.

The proposed amendments will allow the company to issue shares to creditors in exchange for the cancellation of these financial obligations. By converting these debts into equity, the firm aims to remove the $29 million in liabilities from its books. This move follows the company’s recent assessment of its current debt structure and its stated objective to improve its overall financial position. The company has not yet provided a specific timeline for the completion of the amendment process or the issuance of the new shares.

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Date: June 3, 2026

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GOAI