TSX-V TRADING SYMBOL: CEC
VANCOUVER, June 20, 2013 /CNW/ - Compliance Energy Corporation (the "Company) is pleased to release the results of the vote for the election of directors held at the company's annual and special meeting of shareholders on June 20, 2013. At the meeting, the number of directors was maintained at six and the following individuals were re-elected as directors of the company: James O'Rourke, John Tapics, Rodney Shier, Jamieson Merritt, Paul Willis, and Paul Krivokuca. Shareholders also ratified the Company's Stock Option Plan and approved the Advance Notice Policy.
The Company also announces that John Tapics has resigned as an officer of the Company to pursue other opportunities. Mr. Tapics will continue on as an advisor and director and will aid in an orderly transition. The Company would like to thank Mr. Tapics for his dedicated and professional service as President and CEO and wish him well in his future opportunities.
Mr. Stephen Ellis has been appointed President and Chief Operations Officer and Mr. Grant Tanaka has been appointed Chief Financial Officer.
Mr. Ellis has had an extensive coal mining career, spanning more than 30 years, in the United Kingdom, Australia and New Zealand before joining the Company in 2012. Mr. Ellis holds a First Class Mine Manager's Certificate of Competency in the United Kingdom and New Zealand with mutual recognition of these in Australia.
Mr. Tanaka is a member of the Canadian Institute of Chartered Accountants with experience in accounting, corporate finance and mergers and acquisitions in the resource sector. Previously, he has held senior financial positions with New Gold and Teck Resources.
"We are delighted that Stephen has accepted the role of President and COO and Grant the position of CFO" stated Jim O'Rourke, Chairman. "We will be able to draw on their respective underground coal mining and financial and accounting experience as we advance the Raven Project."
On behalf of the Board of
COMPLIANCE ENERGY CORPORATION
Mr. Jim O'Rourke
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, future mineral exploration activities, future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies. Often, but not always, forward-looking statements can be identified by the use of words such as "anticipates", "plans", "planning", "planned", "expected" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including the receipt of necessary regulatory approvals, that counterparties to material agreements will duly perform their obligations there under, the results of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of minerals; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
SOURCE: Compliance Energy Corporation
For further information:
Contact Steve Ellis, President and COO. Compliance Coal Corporation at 250-871-7910 for further information.