FP Resources Limited announces that it has commenced making applications to cease to be a reporting issuer - FP Resources Limtied announces delistment from TSX


    ST. JOHN'S, March 26 /CNW/ - FP Resources Limited (the "Company") today
announced that it has commenced making applications to the securities
regulatory authorities in each of the jurisdictions in which it is a reporting
issuer to cease to be a reporting issuer. Applications will be made in the
provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario,
Québec, New Brunswick, Nova Scotia and Newfoundland and Labrador. Upon
completion of these applications, the Company will no longer be a reporting
issuer in any jurisdiction and will no longer be subject to any of the
continuous disclosure obligations of reporting issuers. A final news release
will be issued upon the successful completion of these applications.
    The Company also announces that effective at the close of business on
Monday, March 24, 2008, the common shares of FP Resources Limited ("FP") were
delisted from the Toronto Stock Exchange ("TSX"). The common shares were
delisted from the TSX as a result of the recently made effective transaction
(the "Restructuring Transaction") in which FP was amalgamated with a
wholly-owned subsidiary to become the Company which now carries on the
investment business of FP under the name "FP Resources Limited". For more
information on the Restructuring Transaction, please see the news release
issued on March 19, 2008 available on SEDAR (www.sedar.com).
    The Company would like to confirm that there are currently 6,589 common
shares of the Company issued and outstanding. The news release issued on
March 19, 2008 erroneously referred to this number as 6,589,000.

    About the Company: The Company is a Newfoundland and Labrador-based
investment holding company.

    Certain information regarding the Company contained herein may constitute
forward-looking statements within the meaning of applicable securities laws.
Forward-looking statements may include estimates, plans, expectations,
opinions, forecasts, projections, guidance or other statements that are not
statements of fact. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, it can give no
assurance that such expectations will prove to have been correct. The Company
cautions that actual performance will be affected by a number of factors, many
of which are beyond the Company's control, and that future events and results
may vary substantially from what the Company currently foresees. Discussion of
the various factors that may affect future results is contained in the
management information circular filed in connection with the special meeting
of shareholders held on March 11, 2008 which is available at www.sedar.com.
The Company's forward-looking statements are expressly qualified in their
entirety by this cautionary statement.
    %SEDAR: 00001044E

For further information:

For further information: Beverley Evans, Chief Financial Officer, (709)
570-0351, bevans@fpresources.ca

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