Primary Corp.
TSX VENTURE : PYC

Primary Corp.

January 19, 2011 16:45 ET

Primary Corp. Announces NAV of $1.593 Per Share

TORONTO, ONTARIO--(Marketwire - Jan. 19, 2011) - Primary Corp. (TSX VENTURE:PYC) ("Primary" or the "Company") announced today that it's unaudited net asset value ("NAV") per share as at December 31, 2010 was $1.593 (basic) compared to $1.210 (basic) at December 31, 2009 and $0.836 (basic) at December 31, 2008 . NAV is a non-GAAP measure defined as shareholders' equity divided by the total number of common shares outstanding. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. The Company believes that NAV per share provides information useful to our shareholders in understanding our performance and provides a meaningful measure to evaluate our business.

Summary

NAV per share (basic)     Dec. 31, 2010(unaudited
)
    Dec. 31, 2009       Dec. 31, 2008  
Cash     0.405       0.171       0.309  
Loans receivable     0.110       0.062       0.060  
Publicly traded investments     0.766       0.677       0.222  
Other investments     0.312       0.306       0.251  
Net other liabilities     (0.000 )     (0.006 )     (0.006 )
Total   $ 1.593     $ 1.210     $ 0.836  

About Primary

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 Canadian small cap market that will seek to make equity investments and bridge loans in appropriate companies.

To receive Primary Corp. news, please subscribe to Marketwire's free news service (www.marketwire.com).

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

Contact Information

  • Primary Corp.
    Robert Pollock
    President & CEO
    416.214.9672