June 3, 2009  
           

PRIMA DEVELOPMENTS LTD. ENTERS INTO INVESTOR RELATIONS AGREEMENT

Prima Developments Ltd. ("Prima") is pleased to announce it has retained Catalyst Xchange Corp. ("CXC"), represented by its principals Don Shaxon and Jason Springett, to provide it with investor relations services under an investor relations agreement dated as of June 1, 2009 (the "Agreement"). CXC is an investor relations company located in London, Ontario.   It will provide a variety of promotional and investor relations services to Prima, including assisting with the dissemination of news and information to the public and initiating and maintaining contact with investors.   As part of its services, CXC uses social networking and web based marketing sites such as www.publiclytrading.com to disseminate news to the investment community.

The Agreement is for a period of twelve (12) months and can be terminated by either party immediately on notice at the end of each month of the Term.  Prima has agreed to pay fees of $4,000 per month to CXC.  In addition, Prima has granted 400,000 stock options to purchase 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.

 

Jason Springett has agreed to invest Five Thousand Dollars ($5,000) in Prima's previously announced private placement (see news release dated March 12, 2009).   Other than this investment and the options described above, neither CXC nor its principals have any direct or indirect interest in Prima n or any right or intent to acquire such an interest.

 

The Agreement and stock option grant are subject to regulatory approval and all terms will be subject to and in accordance with the rules and regulations of the TSX Venture Exchange.

 

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. 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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