Source: Marret Resource Corp.
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.
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Contact Information: Primary Corp.
Robert Pollock
President & CEO
416.214.9672