Primary Corp.

Primary Corp.

December 14, 2011 07:00 ET

Primary Corp. Declares Quarterly Dividend and Appoints New Director

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2011) - Primary Corp. (TSX:PYC) ("Primary") announces today that it has declared a quarterly dividend of $0.08125 per share on its outstanding common shares. The dividend is payable on January 13, 2012 to shareholders of record at the close of business on December 30, 2011 and is an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada). Primary would also like to announce the appointment of John R. Anderson, CA, ICD.D to its board of directors. Mr. Anderson is a former partner with Ernst & Young who operates an active consulting practise providing services to clients in a variety of industries. He has also served as a director for a number of corporate and charitable organizations. Mr. Anderson will assume the role of Chairman of the Audit Committee.

About Primary

Primary trades on the Toronto Stock Exchange under the symbol PYC. Primary is focused on natural resource lending. Primary's business is primarily directed to investing in public and private debt securities of and making term loans (including bridge and mezzanine debt) to issuers in a broad range of natural resource sectors, including energy, base and precious metals and other commodities, and issuers involved in exploration and development, and may also include financing other resource‐related businesses and investing in public and private equity and quasi‐equity securities. Primary seeks to generate income primarily from its lending activities, while taking advantage of additional upside through equity participation in the companies which it finances.

Marret Asset Management Inc. is responsible for implementing Primary's investment strategy and managing Primary's investment portfolio.

About Marret Asset Management Inc.

Marret is an employee-owned firm based in Toronto and has over $6 billion of assets under management. Marret and its experienced team of investment professionals led by Barry Allan specialize exclusively in fixed income and, particularly, in high yield debt strategies.

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Contact Information

  • Primary Corp.
    Robert Pollock
    Chief Executive Officer