SOURCE: Perihelion Global

November 01, 2007 09:51 ET

Perihelion Global Provides Update on Canadian Subsidiary

WILMINGTON, DE and SANTA ROSA BEACH, FL--(Marketwire - November 1, 2007) - Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today provided an update on the company's Canadian subsidiary.

As announced over the summer, Perihelion Global formed Perihelion Canada to engage in the exploration of precious metal and mineral properties in Canada. Initially, the company expected to create its own security listing on the Canadian CNQ exchange and arrange financing through that subsidiary to fund operations. The company and its Canadian counsel believed market and regulatory conditions were satisfactory to complete this process within a 90-day period.

To date, however, Perihelion has been unable to progress beyond certain administrative and monetary conditions that have hampered the company's ability to create the publicly traded Perihelion Canada subsidiary. Specifically, the dramatic and historic decline of the US Dollar against the Canadian Dollar has had a significant and negative impact on the company's purchasing power. As Perihelion is an American-based company dealing almost exclusively with US Currency, a weak US Dollar provides a far more expensive process than originally conceived. Further, the company has encountered additional delays with the regulatory and legal process that were not anticipated by its counsel.

The company will continue to explore all options available to creating the publicly traded Canadian subsidiary, including the acquisition of a public company already on a Canadian exchange. However, there is no guarantee the company will be successful in doing so, and at present, Perihelion Canada remains an incorporated and registered Canadian 'shell' corporation without meaningful operations.

Shareholders are advised that the material discussed in respect to Perihelion Canada does not impact Perihelion Global US operations, including energy and mining projects underway in Alabama and Utah.

The company will advise shareholders of subsequent developments regarding Perihelion Canada as they become available.

About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.

Website: http://www.perihelionglobal.com

Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

--  General economic conditions, either nationally or in our market area,
    that are worse than expected;
    
--  regulatory and legislative actions or decisions that adversely affect
    our business plans or operations;
    
--  price competition;
    
--  inflation and changes in the securities markets that adversely affect
    the fair value of our operations; and
    
--  changes in our organization, compensation and benefit plans.
    

We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

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