June 22, 2009  
           

PRIMA ANNOUNCES SEEKING TO SETTLE AGGREGATE INDEBTEDNESS

 

The Company announced today that it will be seeking to settle aggregate indebtedness in the approximate amount of $181,000 by way of the issuance of approximately 1,206,667 common shares of the Company at a deemed settlement price of $0.15 per share.   The debt is payable to RJ Langset Capital Mgmt Corp. (a company owned by Roland Langset, President) for advances made to or on behalf of the Company.    The Company will also seek approval to issue RJ Langset Capital Mgmt Corp. a bonus on the above loan amount of $36,200 payable in common shares of the Company at a deemed value of $0.15 per share.   The amount of shares issued for the bonus above would be 241,333.

 

The Company has also agreed to seek approval to issue to Intermark Law Corporation 23,334 common shares at a deemed value of $0.15 per share in settlement of a debt of $3,500.

 

These debt settlements and the payment of the bonus shares will be subject to TSX Venture Exchange acceptance .

 

About Prima (PID)

 

Prima's subsidiary, ENVIROCOAT TECHNOLOGIES, manufactures and distributes the proprietary specialty Envirosmart coatings, known as Ceramic Insulcoat with Cerylium, throughout Canada and internationally, including the U.S.A. Years of successful R&D has produced a unique product which provides over 30 features and benefits including super adhesion, water and moisture management, heat penetration resistance, saving wasted energy.   Prima's model is designed to expand its share of this $85 billion global market through acquisition and association with strategically positioned distribution outlets located in over 70 countries.   Prima and its new partners are positioned for global distribution to the global multi-billion dollar market.

 

On Behalf of the Board,

Roland Langset, President                     

 

 

 

 

This press release may include forward-looking statements; including statements relating to the Company's manufacturing capability, marketing strategy, future sales growth, profitability and competitive position.   The words "plan", "expect", "believe", "intend", "anticipate", "forecast", "target", "estimate", and similar expressions identify forward-looking statements.   Forward-looking statements are based on assumptions made by and information currently available to the Company.   Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected.   The Company does not undertake to review or update these forward-looking statements.

 

The TSX Venture Exchange has not reviewed and does not a ccept responsibility for the adequacy or accuracy of this release.


 
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