June 10, 2009  
           

Prima Development Ltd. Grants Incentive Stock Options

 

The Company announces that it has granted incentive stock options to certain directors, senior officers, employees and consultants to purchase an aggregate of 895,000 common shares at an exercise price of $0.15 and a term of five years, expiring on June 9, 2014. The options and shares issuable upon exercise, if any, will be subject to a four-month hold period from the date of grant in accordance with TSX Venture Exchange policy. The grant was pursuant to the Company's Rolling Stock Option Plan, which was re-affirmed by the shareholders of the Company on December 12, 2008 and subsequently accepted by the Exchange.

 

Further to its news release of June 3, 2009, the Company has also granted incentive stock options to Catalyst Xchange Corp. to purchase up to 400,000 common shares.   The options will have an exercise price of $0.10 per share. Twenty five percent (25%) of the options will vest after three (3) months, an additional 25% after six (6) months, an additional 25% after nine (9) months and the balance after twelve (12) months. The term of the stock options will be two (2) years from the date of grant. If the Agreement is terminated, any unvested options will terminate immediately and any vested options will terminate 30 days following the termination or expiry of the Agreement.

 

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. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

 

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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