Primeline has received a receipt for its short form prospectus relating to a rights offering to raise gross proceeds of CAD$23,510,311from the securities regulatory authorities in British Columbia, Alberta, Ontario and Quebec.
Each holder of record of Primeline common shares ("Shares") as of April 15, 2010, will be entitled to receive one right (a "Right") for each Share held. One Right will entitle the holder to acquire one Share at a price of $0.50 per Share (the "Subscription Price") until 2:00 pm (Vancouver time) on May 6, 2010.
The TSX Venture Exchange (the "TSXV") has advised Primeline that the Rights will commence trading on the TSXV beginning on April 13, 2010 and that the Shares will begin trading on an "ex-Rights" basis at the same time. The Rights are expected to be posted for trading until 9:00 am (Vancouver time) on May 6, 2010.
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