PDV Prime Dividend Corp

Prime Dividend Corp. (the "Company") is pleased to announce that it will issue
warrants ("Warrants"), to all Class A Shareholders. Each Class A Shareholder
will be entitled to receive one Warrant for each Class A Share held as of the
record date of May 4, 2012. One Warrant will entitle the holder to purchase a
Unit consisting of one Class A Share and one Preferred Share for $17.25. The
Warrants are exercisable at anytime up to 5:00 p.m. (Toronto time) on February
28, 2013, the expiry date. If all the Warrants are exercised, the Company will
issue approximately 1,539,460 Units and will receive net proceeds of
$25,955,820. The net proceeds from the subscription of Units will be used to
acquire additional securities in accordance with the Company's investment
objectives, strategies and restrictions. By raising additional cash through this
offering it allows the Company to capitalize on certain attractive investment
opportunities that may arise over the next few months. In addition, if the full
subscription was exercised the offering could increase the trading liquidity of
the Company and reduce the management expense ratio.


Both the Preferred Shares and Class A Shares trade on the Toronto Stock Exchange
(the "TSX") under the symbol "PDV.PR.A." and "PDV" respectively. The Warrants
will be listed on the TSX under the ticker symbol "PDV.WT". It is expected that
Warrants will commence trading on May 7, 2012 and continue trading until 12:00
(EST) on February 28, 2013.


Certain statements included in this news release constitute forward-looking
statements, including, but not limited to, those identified by the expressions
"expect", "intend", "will" and similar expressions to the extent they relate to
the Company. The forward-looking statements are not historical facts but reflect
the Manager's current expectations regarding future results or events. These
forward-looking statements are subject to a number of risks and uncertainties
that could cause actual results or events to differ materially from current
expectations. Although the Manager believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and, accordingly, readers are cautioned not to
place undue reliance on such statements due to the inherent uncertainty therein.
The Manager undertakes no obligation to update publicly or otherwise revise any
forward-looking statement or information whether as a result of new information,
future events or other such factors which affect this information, except as
required by law.

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