March 12, 2009  
           

PRIMA ANNOUNCES $450,000 NON BROKERED PRIVATE PLACEMENT

 

Prima will conduct on a best efforts basis a private placement for up to 4,500,000 units (the "Units") at a price of 0.10 per Unit for total proceeds of $450,000.   Each Unit consists of one common share and one-half (1/2) of a non-transferable share purchase warrant ("Warrant").  Each Warrant will entitle the holder thereof to purchase an additional share for a period of twenty four (24) months after closing at a price of $0.20 per share.  Finders' fees may be paid in cash, warrants or common shares in accordance with the policies of the TSX-Venture Exchange (the "Exchange").

 

The proceeds from the private placement will be used to purchase production equipment and supplies as well as for general working capital purposes. An initial closing of the private placement is anticipated for March 31, 2009, with additional closings to take place from time to time thereafter as warranted.

 

The private placement will be subject to Exchange approval and in accordance with the securities legislation currently in effect, the shares will be subject to a "hold period" of four months and a day from the date of issuance and closing.

 

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.

 

The TSX Venture Exchange has not reviewed and does not a ccept responsibility for the adequacy or accuracy of this release.


Investor Information | News Release Overview | Home Page | Corporate Profile | Corporate Directory | Management Team | Board of Advisors | History | Products Overview | Exterior Wall | Exterior Roof | Insulseal | Seal Bond | Contact Us | British Columbia | Alberta | Saskatchewan | Manitoba | Ontario | Quebec | New Brunswick | Newfoundland | Nova Scotia | Prince Edward Island | United States | Single Family | Multi Family | Commercial | Institutional | Specialty | Videos | Sitemap | Site Admin