March 31, 2010  
           

Prima Closes $110,837 Shares for Debt Transaction

 

Shares for Debt

 

The Company wishes to announce, effective March 24, 2010, it received approval from the TSX Venture Exchange for its previously announced shares for debt transaction (February 18, 2010 ) Prima Announces Seeking to Settle Aggregate Indebtedness) to settle debts of an aggregate of $110,837 by the issuance of 1,847,279 common shares of the Company at a deemed issue price of $0.06 per share (the Shares).  

 

RJ Langset Capital Mgmt Corp. (a company owned by Roland Langset, President) will receive 1,780,612 common shares of the Company for Royalties of $106,837 owed by the Company.   InterMark Law Corporation will receive 66,667 common shares in settlement of a debt of $4,000.

 

The Shares are subject to a four-month hold period in accordance with the policies of the TSX Venture Exchange.  

 

About Prima (PID)

 

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. 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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