Union Bancaire Privee Bahamas Limited in trust for Cloudville Company Ltd. acquires common shares of Canadian Phoenix Resources Corp. for investment purposes



    TORONTO, March 25 /CNW/ - Union Bancaire Privee Bahamas Limited, in trust
for Cloudville Company Ltd. ("Cloudville"), announced today that it has
recently acquired control and direction of a total of 83,240,000 common shares
and warrants to purchase a further 83,240,000 common shares at a price of
C$0.15 per common share of Canadian Phoenix Resources Corp. ("Canadian
Phoenix") of Calgary, AB in connection with a private placement. As a result
of the acquisition, Cloudville now controls a total of 83,240,000 common
shares (representing approximately 19.66% of Canadian Phoenix's outstanding
common shares) and warrants to purchase a further 83,240,000 common shares at
a price of C$0.15 per common share. If the warrants are exercised, Cloudville
will have ownership of or control over 166,480,000 common shares of Canadian
Phoenix (representing approximately 32.86% of Canadian Phoenix's then
outstanding common shares).
    Cloudville acquired the shares and warrants for investment purposes and
may from time to time, acquire additional securities of Canadian Phoenix or
dispose of such securities as it may deem appropriate.





For further information:

For further information: Mr. Antony Mitchell, Cloudville Company Ltd.,
at (561) 373-2475; Union Bancaire Privee Bahamas Limited in trust for
Cloudville Company Ltd., PO Box N-7529, Shirley Street, Nassau, Bahamas

Organization Profile

UNION BANCAIRE PRIVEE BAHAMAS LIMITED

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