Canadian Orebodies Inc.

Canadian Orebodies Inc.

April 14, 2009 16:12 ET

Orebodies Announces Approval of Debt Settlement

TORONTO, ONTARIO--(Marketwire - April 14, 2009) - Canadian Orebodies Inc. (TSX VENTURE:CO) (the "Company") announces that it has received approval from the TSX Venture Exchange (the "Exchange") for a shares for debt settlement with MacDonald Mines Exploration Ltd. ("MacDonald") and Matrix Aviation Solutions Inc. ("Matrix") as was disclosed in the Company's press release of April 03, 2009. Both MacDonald and Matrix have agreed to settle the debt in exchange for the issuance of common shares in the capital of the Company ("Common Shares") at a price of $0.075 per Common Share, for an aggregate issuance of 1,500,000 and 933,333 Common Shares, respectively. The shares will be subject to a four month + one day hold period, which will expire on August 15, 2009.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

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