February 18, 2010  
           

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 $106,836.73 by way of the issuance of approximately 1,780,612 common shares of the Company at a deemed settlement price of $0.06 per share.   The debt is payable to RJ Langset Capital Mgmt Corp. (a company owned by Roland Langset, President) for Royalties owed by the Company.

 

The Company has also agreed to seek approval to issue to Intermark Law Corporation 66,667 common shares at a deemed value of $0.06 per share in settlement of a debt of $4,000.00.

 

These debt settlements will be subject to TSX Venture Exchange acceptance.

 

ABOUT PRIMA

 

PRIMA'S subsidiary, ENVIROCOAT TECHNOLOGIES, manufactures and distributes the proprietary Envirosmart coatings, Ceramic Insulcoat with Cerylium, to domestic and international markets. Extensive R&D has created a landmark product delivering over 30 significant features including super adhesion, moisture management, and heat resistance, significantly increasing structure life and decreasing energy use.

 

PRIMA is powerfully positioned to expand its share of an $85 billion world market with its distribution partners and strategic alliances in over 70 countries.

 

On Behalf of the Board,

 

Roland Langset

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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