Canadian Phoenix Resources Corp.
TSX VENTURE : CPH

Canadian Phoenix Resources Corp.

March 25, 2008 08:41 ET

Canadian Phoenix Announces Conversion of Debentures

CALGARY, ALBERTA--(Marketwire - March 25, 2008) - CANADIAN PHOENIX RESOURCES CORP. (TSX VENTURE:CPH) ("Canadian Phoenix") is pleased to announce that it has received notice for the conversion of convertible secured subordinated debentures ("Debentures") in the aggregate amount of $6,771,900. Canadian Phoenix will issue 81,262,800 common shares upon conversion of these Debentures. Following conversion of these Debentures, Canadian Phoenix will have 504,627,440 common shares issued and outstanding.

Canadian Phoenix Resources Corp. is a publicly traded junior oil and gas exploration, development and production company with operations in Western Canada. Canadian Phoenix is pursuing a corporate strategy of being a consolidator of undervalued oil and gas assets located in the Western Canadian Sedimentary Basin. Canadian Phoenix's shares trade on the TSX Venture Exchange under the symbol "CPH".

ON BEHALF OF THE BOARD OF DIRECTORS OF CANADIAN PHOENIX RESOURCES CORP.

Robert J. Chenery, President & CEO

Forward-Looking Statements

This release may contain forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance. Any forward-looking statements are made as of the date hereof and Canadian Phoenix does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Canadian Phoenix Resources Corp.
    Robert J. Chenery
    President & CEO
    (403) 920-0040
    (403) 920-0043 (FAX)