PHOENIX CAPITAL INC.

PHOENIX CAPITAL INC.

March 17, 2005 16:44 ET

Phoenix Capital Inc.: Press Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PHOENIX CAPITAL INC.

TSX VENTURE SYMBOL: PNX
TSX VENTURE SYMBOL: PNX.DB
TSX VENTURE SYMBOL: PNX.DB.D

MARCH 17, 2005 - 16:44 ET

Phoenix Capital Inc.: Press Release

TORONTO, ONTARIO--(CCNMatthews - March 17, 2005) - Phoenix Capital Inc.
("Phoenix"), TSX Venture Exchange - Common Shares "PNX", Series C
Debentures "PNX.DB", Series D Debentures "PNX.DB.D", advises that,
further to the previous disclosure of a planned reorganization of the
company into an income trust ("Trust") and the issuance of additional
units of the Trust ("Units"), Phoenix has entered into an agreement with
First Associates Investments Inc. for a proposed offering of Units in
the capital of the Trust on a commercially reasonable best efforts basis.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Phoenix Capital Inc.
    James D. Hamilton
    (416) 861-1940, Toll Free: (888) 448-7791
    or
    Phoenix Capital Inc.
    Michael Pereira
    (416) 861-1940, Toll Free: (888) 448-7791
    inquiry@phoenixcapital.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.