Primary Corp.

Primary Corp.

May 08, 2009 17:36 ET

Primary Corp. Issues Stock Options

TORONTO, ONTARIO--(Marketwire - May 8, 2009) - Primary Corp. (TSX VENTURE:PYC) (the "Company") announced today that it has granted an aggregate of 500,000 incentive stock options (the "Options") to its officers and directors pursuant to the amended and restated stock option plan (the "Plan") of the Company. The Plan has received conditional approval from the TSX Venture Exchange subject to approval of the Company's shareholders at the annual and special meeting of shareholders of the Company to be held on June 11, 2009. The Options are exercisable at $0.70 per share and are subject to shareholder approval of the Plan.

All of the Options granted on May 7, 2009 vest over eighteen months; one quarter shall be vested immediately, one quarter on the six-month anniversary of the grant date, one quarter on the one-year anniversary of the grant date and the remaining one quarter on the eighteen-month anniversary of the grant date. Vested Options can be exercised at any time during the five-year period following the grant date.

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
    (416) 214-9672