July 30, 2009  
           

PRIMA DEVELOPMENT LTD. CANCELS $250,000 NON BROKERED

 PRIVATE PLACEMENT

 

 

Private Placement

 

Further to its news release of June 16, 2009, the board of directors of the Company have decided to cancel the announced $250,000 private placement due to market conditions and a reduced need for capital based on its recently closed $210,500 private placement as well as recent sales orders received by the Company.   The Company will reassess its need for additional capital in the coming months.

 

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

 

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 accept responsibility for the adequacy or accuracy of this release.

 


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