TORONTO, ONTARIO -- (Marketwire) -- 05/07/10 -- PhosCan Chemical Corp. (TSX: FOS) ("PhosCan" or the "Company") announces that it has initiated a review of strategic alternatives and investment opportunities. The Board of Directors of the Company has appointed a Corporate Finance Committee (the "Committee") to review strategic alternatives. The Committee has engaged Cormark Securities Inc. ("Cormark") to act as the Company's financial advisor. The Company's primary assets consist of approximately Cdn$68 million of cash, cash equivalents and short-term investments, and a 100% interest in the Martison phosphate project. The Company has previously announced that it has deferred certain aspects
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