TORONTO, ONTARIO--(Marketwire - Dec. 1, 2010) - The Phoenician Fund Corporation I ("Phoenician" or the "Company") (TSX VENTURE:PO.H), a capital pool company, today announced the termination of its proposed qualifying transaction (the "Transaction") with China Pub Company Plc ("China Pub"). The Transaction has been terminated because the finance necessary to complete the Transaction (according to the rules of the TSX Venture Exchange) was not to be forthcoming either out of the U.K. or of Canada