Form 8-K for PHANTOM FIBER CORP

Change in Directors or Principal Officers, Other Events

Press Release
April 25, 2005

ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS

Mr. Vince Bulbrook has resigned as the Chief Financial Officer and Secretary of Phantom Fiber Corporation in order to pursue other interests. The Board of Directors of the Corporation expressed gratitude to Mr. Bulbrook for his contributions as an officer of the Corporation and for his assistance in ensuring an orderly transition upon his departure. Effective April 20, 2005, the Corporation appointed Mr. Jim Andersen CA, CPA, CFP as Chief Financial Officer and interim Secretary of the Corporation. During the previous five years, the business experience of Mr. Andersen has been as a partner with Forbes Andersen LLP, Chartered Accountants, a boutique accounting firm located in Toronto, Canada. Mr. Andersen has over fifteen years of experience in public practice, and has had a wide variety of experience in cross-border taxation issues. During the last two years Mr. Andersen's firm has provided accounting services to the Corporation at a total value of $25,000. The Corporation has not yet finalized an employment agreement with Mr. Andersen.