Primary Corp.
TSX VENTURE : PYC

Primary Corp.

November 16, 2010 17:56 ET

Primary Corp. Reports Net Income of $2.5M in Third Quarter

TORONTO, ONTARIO--(Marketwire - Nov. 16, 2010) - Primary Corp. (TSX VENTURE:PYC) reports that it recorded net income of $2,453,503 and comprehensive income of $10,331,375 during the quarter ended September 30, 2010. The Company's strong results reflected the advances in the junior resource sector during the quarter. At September 30, 2010, Primary's assets included investments of $38.4M and loans receivable of $5.1M. In addition, the Company held $5.7 million in cash. The resulting net asset value per share is $1.44 at September 30, 2010, an increase of 28.7% during the quarter. The financial statements along with management's discussion and analysis can be found on SEDAR (www.sedar.com) or on Primary's website (www.primarycorp.ca).

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

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For further information about Primary and its ongoing business, please contact Robert Pollock.

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

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