Press Release
January 3, 2002
TORONTO, ONTARIO -- Phoenix Capital Inc. (CDNX - Common Shares - ``PNX'', Series C Debentures ``PNX.DB'', Series
D Debentures ``PNX.DB.D'') -Phoenix Capital Inc. announces that the formal offer dated November 23, 2001, expired
yesterday and has been extended to January 31, 2001, for units of Banff Rocky Mountain Resort Limited Partnership.
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Contact: Phoenix Capital Inc. James D. Hamilton President Phone: (416) 861-1940 e-mail: inquiry@phoenixcapital.com