Board of Directors

Robert Buchan – Chairman & CEO

Mr. Buchan joined Phoenix as Chairman in 2008.  He is currently the Executive Chairman of Allied Nevada Gold Corp., a position he has held since July 2007.  From April 2005 to December 2007 he served as the Executive Chairman of Quest Capital Corp.  Prior to Quest, he served as the CEO of Kinross Gold Corp. from 1993 to 2005.  Mr. Buchan earned a Master of Science degree from Queen’s University in 1971.

John Huxley —Director

Mr. Huxley joined Phoenix as a Director in 2008.  He is currently an independent Director of Kinross Gold Corp. and a Director of Nordex Explosives Ltd., which are positions he has held since 1993 and 2007, respectively.  From 1997 to 2006, Mr. Huxley was a principal of Algonquin Management Inc., which manages Algonquin Power Income Fund.  Previously, Mr. Huxley was the President of Algonquin Power Corporation, a builder, developer and generator of hydro electric generating facilities in Canada and the United States.  Mr. Huxley received a Bachelor of Law degree from Osgoode Hall Law School in 1970.

A. Murray Sinclair – Director

Mr. Sinclair joined Phoenix as a Director in 2008.  Mr. Sinclair is currently the Co-Chair of Quest Capital Corp., a mortgage investment corporation, where he has previously served as Managing Director from 2003 to 2007.  Prior to joining Quest Capital, Mr. Sinclair was President of Quest Investment Corp.  From December 1996 to December 2005, Mr. Sinclair served as President of Quest Ventures Ltd.  Mr. Sinclair is currently a Director and/or officer of various other public companies, including Ionic Capital Corp.  He received his Bachelor of Commerce from Queen’s University in 1984.

Ravi Sood – Director

Mr. Sood joined Phoenix as a Director in May 2009.  Mr. Sood is President & Chief Operating Officer of Lawrence Asset Management Inc.  He has provided the direction, leadership and strategy for the Company's investing activities since 1998.  Mr. Sood was previously employed by a major international investment bank.  Mr. Sood holds a Bachelor of Mathematics with distinction from the University of Waterloo.

Robert Wardell —Director

Mr. Wardell joined Phoenix as a Director in 2008.  Mr. Wardell also serves as a Director of Katanga Mining Limited and Allied Nevada Gold Corp.  Previously, he was Vice-President, Finance and Chief Financial Officer of Victory Nickel Inc., a position he held from February 2007 to January 2009.  From 2006 to 2007, Mr. Wardell was self-employed as an accounting and finance consultant, and between 1986 to 2006, he was a senior audit partner with Deloitte & Touche LLP.  Mr. Wardell is a former member of the Canadian Institute of Chartered Accountants Emerging Issues Committee, and he has served as an expert witness on various accounting and financial reporting related matters.  Mr. Wardell is a member of the Institute of Chartered Accountants of Ontario.