2009-11-17 19:22:03 -

CALGARY, ALBERTA -- (Marketwire) -- 11/17/09 -- CANADIAN PHOENIX RESOURCES CORP. (TSX VENTURE: CPH) "Canadian Phoenix" or the "Corporation") further to the Corporation's press release dated November 13, 2009, the Corporation announces that it has amended its articles of incorporation effective November 16, 2009, to consolidate its outstanding common shares on the basis of one post-consolidation common share for each 25 pre-consolidation common shares outstanding. The post-consolidated common shares of the Corporation will commence trading at the opening of trading on Wednesday, November 18, 2009 on the TSX Venture Exchange under the new trading symbol "CXP". As announced on November 13, 2009, the shareholders approved the consolidation at the annual general and special meeting of shareholders held on November 12, 2009.



No fractional shares will be issued pursuant to the consolidation and fractional entitlements will be rounded down to the next lowest whole number of post-consolidated common shares. Registered shareholders will be required to exchange their existing share certificates representing pre-consolidated common shares for the new post-consolidated shares, by submitting their old certificates, together with a completed and signed Letter of Transmittal, to the Corporation's transfer agent, Computershare Trust Company of Canada. Letters of Transmittal were distributed to registered shareholders with the proxy materials for the November 12, 2009 meeting of shareholders and may also be obtained from Computershare Trust Company of Canada, P.O. Box 7021, 31 Adelaide Street E, Toronto, ON M5C 3H2 Attention: Corporate Actions (Tel: 1-800-564-6253) or downloaded from SEDAR at www.sedar.com : .



Number of post-consolidated common shares outstanding - 45,275,751.



Canadian Phoenix Resources Corp. is a publicly-traded junior oil and gas exploration, development and production company with operations in Western Canada. Canadian Phoenix's shares will trade on the TSX Venture Exchange under the symbol "CPH" until November 18, 2009, and will trade under the symbol "CXP" thereafter.



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

Contacts:
Canadian Phoenix Resources Corp.
Robert Chenery
Interim Chief Executive Officer
(403) 920-0040

Canadian Phoenix Resources Corp.
Adeline Martin
Interim Chief Financial Officer
(403) 705-1192