Phoenician Funds

Howard Crosby

Mr. Crosby is currently a non-Executive Director of International Consolidated Minerals Limited, a Latin American mining company listed on AIM in London, England. International Consolidated Minerals was acquired by Platinum Diversified Mining Inc., a Special Purpose Acquisition Corporation ("SPAC") formed to make investments in the mining industry. Since September 1989, he has been the President of Crosby Enterprises, Inc., and currently, he is also the Vice Chairman and director of Cadence Resources Corporation having previously been President and Chief Executive Officer until October 2005. Cadence Resources Corporation is a publicly traded oil and gas company with production operations in Texas and Louisiana, which recently announced a merger with Aurora Energy of Traverse City, Michigan, a company with extensive acreage holdings prospective for unconventional gas in the upper Midwest. Early in his career, Mr. Crosby served as a Vice President of UNC Nuclear Industries, a Division of United Nuclear Corporation, which was at the time extensively involved in uranium exploration and production in the western United States. Mr. Crosby is also a Vice President and director of White Mountain Titanium Corporation as well as a director of High Plains Uranium, Inc., a Canadian, TSX listed company. Mr. Crosby holds a B.A. from the University of Idaho.