News Release
February 24, 2005, London, England. Primeline Energy Holdings Inc. (TSX Venture: PEH) (“Primeline” or the “Company”) is pleased to announce that it has entered into an Investors Relations Agreement with Port Mercantile Capital Inc. (“Port Mercantile”), dated February 18, 2005 (the “Agreement”) to provide corporate communications services to the Company. Under the Agreement, Port Mercantile will receive a $10,000 fee per month for the first six month term, and if extended, $5,000 per month thereafter. In addition, Port Mercantile will receive, subject to regulatory approval, an option to purchase 200,000 shares in the capital stock of the Company at an exercise price of $0.20 per share. These options comply with the requirements of Exchange Policy 3.4, Investor Relations, Promotional and Market-Making Activities, will vest over a twelve month period and will be subject to a four month hold period.
Peter Kelty
Director
Primeline Energy Holdings Inc.
For More Information Please Contact:
Primeline Investor Relations
Tel. + 44 20 7501 0688
Fax. + 44 20 7501 0699
Toll Free: 1 877 818 0688
E-Mail primeline@pilp.com
Web Site: www.primelineenergy.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.