Death of President and CEO Mr. S. Donald Moore

TORONTO, ONTARIO--(Marketwired - Aug. 11, 2015) - Phoenix Canada Oil Company Limited (TSX VENTURE:PCO)(OTCBB:PHXCF) today announces, with great sadness, the sudden death of S. Donald Moore, President, Chief Executive Officer and Chairman.

Mr. Mike Kindy, Chief Financial Officer, commented that "Mr. Moore has dedicated more than five decades of his life to the business of Phoenix Canada Oil Company Limited. During his tenure, the company has been engaged in oil and gas exploration around the globe, and has invested in innovative carbon capture and alternative fuel technologies through significant research and development activities at research universities across North America. Mr. Moore was the consummate entrepreneur, possessing a boundless energy, a passion for new business opportunities, impressive skills in the art of negotiation, all with a steely-eyed focus on concrete results. His presence at Phoenix was immense, and he will be sorely missed."

In addition to his role at Phoenix Canada Oil Company Ltd, Mr. Moore has contributed to the success of a number of public and private companies, including Starrex International Ltd. (formerly Starrex Mining Corporation Limited) and Theralase Technologies Inc. (formerly Interstar Group Inc).

The TSXV has been notified of this material change, and the Board of Directors has arranged a special meeting for the purpose of filling the vacancy on the Board and to consider nominees for appointment as Chief Executive Officer.

About Phoenix:

Phoenix Canada Oil Company Limited primarily focuses on developing clean energy solutions based on water-derived hydrogen. The Company, through its subsidiary, Phoenix International Energy Inc., holds rights to a patented, proprietary hydrogen gas generation technology. It is engaged in the development of RaHydro Splitter, a molecular machine that mimics photosynthesis by utilizing visible light to dissociate hydrogen from ordinary water; and the research and development of synthetic hydrocarbon fuels made from water-derived hydrogen. The Company is also developing its proprietary catalytic Synfuel technology that captures and converts carbon dioxide, as well as generates a low to nil pollution alternative to crude petroleum-refined liquid transportation fuels. In addition, Phoenix Canada Oil Company Limited has minority interests in mature gas fields in western Canada. The Company was incorporated in 1944 and is headquartered in Toronto, Canada.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.