Substantial Acquisitions of PHA Subsidiary

Redstone Construction & Development Corporation (RCDC), an 80% subsidiary of Premiere Horizon Alliance Corp. (PSE: PHA), has acquired 98.88% of Pyramid Hill Mining Industrial Corp. through a conversion of advances from RCDC amounting PhP220 Million, and 98.55% of Palawan Star Mining Ventures through a conversion of advances from RCDC amounting PhP170 million.

Both companies are holders of Mineral Production Sharing Agreements (MPSAs) covering approximately 10,384 hectares, containing probable quality limestone deposits located in the mineralize area of Southern Palawan.

With these investments, RCDC is looking into business expansion in infrastructure development particularly in limestone related businesses.

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