Primary Corp.

Primary Corp.

March 24, 2011 19:52 ET

Primary Corp. Receives Conditional Approval to Graduate to TSX

TORONTO, ONTARIO--(Marketwire - March 24, 2011) - Primary Corp. (TSX VENTURE:PYC) ("Primary") is pleased to announce that it has received conditional approval to list its common shares on the Toronto Stock Exchange (the "TSX"). The listing is subject to Primary fulfilling all of the requirements of the TSX. Primary expects that its common shares will commence trading on the TSX during the second quarter and will make a further announcement once the TSX has issued a bulletin confirming the date on which listing will take place.

Robert Pollock, Chief Executive Officer of Primary, said, "We are extremely pleased to have received conditional listing approval from the TSX. This is a major milestone for Primary as it moves forward with its transition to natural resource lending following the execution of the Management Services Agreement with Marret Asset Management Inc."

About Primary Corp.

Primary Corp. trades on the TSX Venture Exchange under the symbol PYC. Primary recently announced that it intends to shift its business strategy to focus on natural resource lending. Primary's business will be 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 will seek to generate income primarily from its lending activities, while taking advantage of additional upside through equity participation in the companies which it finances.

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Forward-Looking Information:

This news release contains certain information that may constitute forward-looking information under applicable Canadian securities laws, including but not limited to the listing of the common shares of Primary on the TSX. The reader is cautioned not to place undue reliance on forward‐looking information. Assumptions used in the preparation of such information, although considered reasonable by Primary at the time of preparation, may prove to be incorrect. These assumptions include but are not limited to no material adverse change occurring in Primary's business or affairs. Factors that could cause the forward-looking information to differ materially in actuality include the failure of Primary to obtain final approval of the TSX for the list of the common shares, risks typical of operating in the financial industry and general market risk. More information about the risks and uncertainties affecting Primary can be found in Primary's filings posted on SEDAR at Primary does not undertake any obligation to update forward‐looking information if circumstances or management's estimates or opinions should change, except in accordance with applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Primary Corp.
    Robert Pollock
    Chief Executive Officer