Primary Corp.

Primary Corp.

April 15, 2010 07:00 ET

Primary Corp. Reports 2009 Net Income of $4.6 Million

TORONTO, ONTARIO--(Marketwire - April 15, 2010) - Primary Corp. (TSX VENTURE:PYC) reported a net income of $4.6 million for the year ended December 31, 2009 (14 cents per share). Comprehensive income, which includes unrealized gains on available-for-sale investments was $12.3 million for the year. Overall, the markets rebounded from their collapse in late 2008. This has resulted in a substantial improvement in the Company's portfolio and is reflected in the excellent results for the year. The Company has identified many opportunities in the junior resource sector and has selectively participated in strategic financings.

Primary has aggregated an investment portfolio that has a value of $34.8 million as of December 31, 2009. In addition, the Company has a cash position of $5.7 million that provides it with sufficient resources to operate and gives it adequate resources to take advantage of opportunities that may present themselves.

The complete financial statements along with management's discussion and analysis can be found on the Company's website ( and on SEDAR (

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.

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