Phoenix Matachewan Mines: Shares for SIDEX Interest

OTTAWA, ONTARIO, Nov 12, 2008 (Marketwire via COMTEX) -- Phoenix Matachewan Mines Inc. ("Phoenix" or the "Company") (PMM) announced today that, subject to TSX-V approval, the company has entered into an agreement with SIDEX s.e.c. to pay interest, due on a convertible debenture agreement between SIDEX s.e.c and Phoenix, in shares in lieu of cash. The interest due has been calculated to equal the issuance of 562,500 shares valued at $0.016.