January 18, 2010  
           

PRIMA ANNOUNCES BONUS SHARES FOR LOAN

 

The Company has arranged for a loan (the Loan) of up to Five Hundred Thousand Dollars ($500,000) with Steve Shalinsky (the Lender).    Funds up to the amount of the Loan will be advanced against purchase orders and/or invoices resulting from sales of the Company's product line.   The funds will be used for the purchase raw materials, the production and shipping of products as well as for general working capital. The Loan facility will have a term ending on December 31, 2010 and will be automatically renewed for a further term of one (1) year unless terminated by the parties. The loan will be repayable by the Company at any time prior to the due date. As an inducement to grant the loan, the Company will issue to the Lender voting common shares of the Company equal to 10% of the principal amount of the Loan at a deemed price of CDN$0.10 per share. The shares will be subject to a hold period expiring 4 months and one day after the date of issuance.

 

The payment of the bonus shares on the loan 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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