Primary Corp.

Primary Corp.

May 03, 2010 19:09 ET

Primary Corp. Issues Stock Options

TORONTO, ONTARIO--(Marketwire - May 3, 2010) - Primary Corp. (TSX VENTURE:PYC) (the "Company") announced today that it has granted incentive stock options (the "Options") to its consultants, officers and directors to acquire an aggregate of up to 520,000 common shares pursuant to the amended and restated stock option plan (the "Plan") of the Company. The Options are exercisable at $0.80 per share for a period of five years from the date of grant. The Plan was approved by shareholders of the Company on June 11, 2009.

All of the Options granted on May 3, 2010 vest over a period of eighteen months, with one-quarter vesting immediately, and each additional one quarter vesting every six months commencing from the date of grant. Vested Options can be exercised at any time during the five-year period following the date of grant.

About Primary Corp.

Primary Corp. trades on The TSX Venture Exchange under the symbol PYC. Primary is a diversified venture capital and merchant banking firm focused on the small cap market that will seek to make equity investments and bridge loans in appropriate companies.

Forward Looking Statements: This news release contains certain information that may constitute forward-looking statements under applicable securities laws. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Actual results achieved may vary from the results anticipated or implied herein and variations may be material. There is no representation by the Company that actual results achieved will be the same in whole or in part as those implied in any forward looking statements.

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The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.

Contact Information

  • Primary Corp.
    Robert Pollock
    President & CEO