Leezamax Capital Corp. Announces Termination of Proposed Transaction

Leezamax Capital Corp. (TSX VENTURE:LZX.P) ("Leezamax") announces that its term
sheet agreement with Tomy Investments Pty. Ltd. and Silverbridge Capital Inc.
respecting the proposed acquisition of Axiom Energy Limited ("Axiom"), dated
November 19, 2007, has been terminated. Leezamax had previously announced
(November 22, 2007) that it had reached an agreement for the acquisition of 100%
of the issued and outstanding shares of Axiom. Leezamax had intended that this
transaction would meet the requirements for a Qualifying Transaction (as defined
in TSX Venture Exchange Policy 2.4) however, certain obligations under the term
sheet agreement were not fulfilled within the timeframes stipulated in the
agreement. 


Trading in the common shares of Leezamax was halted pending the announcement and
completion of the proposed Qualifying Transaction, but trading is now expected
to resume shortly under the symbol LZX.P.


Leezamax continues to actively pursue other opportunities for potential
Qualifying Transactions and expects that it has enough cash to find and complete
a Qualifying Transaction.