HOTJ and PD Financial Corp. Sign Letter of Intent

House of Taylor Jewelry (HOTJ) and PD Financial Corp., which operates under the trade name PeachDirect, announced an they have signed a Letter of Intent (LOI) with the purpose of creating an expanded relationship to release consumer jewelry catalogs and web portals for HOTJ-created branded jewelry.

The parties hope to establish a jointly owned marketing entity, which will focus on this growing segment of the jewelry business.

According to the LOI, HOTJ will issue a three-year warrant to PD to purchase 5 million shares of HOTJ's stock at $1.00 if the warrant is exercised during its first year, $1.50 if it is exercised during the second year and $2.00 if it is exercised during its third year.

Under the agreement, PD will be responsible for marketing, as well as the design and development of the entity’s catalogs and websites. HOTJ will oversee design, development, manufacturing and sourcing of all diamonds and jewelry to be marketed under the brand.