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TORONTO, ONTARIO--(Marketwired - Jan 27, 2016) - Charlotte Moore Hepburn announces that, on or about July 31, 2015, she was granted the trading authority over 1,993,028 common shares (the "Shares") of Phoenix Canada Oil Company Limited ("Phoenix"), representing 40.76% of the issued and outstanding capital of Phoenix, registered in the name of Talent Oil and Gas Ltd. ("Talent"). Ms. Elizabeth Moore is the sole registered and beneficial shareholder of Talent Oil and Gas Ltd. Dr. Moore Hepburn is also a director of Talent. Dr. Moore Hepburn also has been granted trading authority over 356,031 shares of Phoenix held directly by Ms. Elizabeth Moore, representing 7.28% of the issued and outstanding capital of Phoenix.
On December 31, 2015, Dr. Moore Hepburn was granted 40,000 options to acquire Shares ("Options") of Phoenix, representing 0.82% of Phoenix.
Dr. Moore Hepburn and Ms. Elizabeth Moore jointly and in concert control approximately 48.47% of the issued and outstanding capital of Phoenix.
This change of control occurred following the death of Mr. Donald Moore and was made for investment purposes. Dr. Moore Hepburn and Ms. Elizabeth Moore have advised that they have no present intention to either increase or decrease their holdings in Phoenix, however they may increase or decrease their investment in Phoenix depending on market conditions or any other relevant factors.
Neither 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.
Charlotte Moore Hepburn