TSX-V TRADING SYMBOL: CEC
VANCOUVER, May 30, 2014 /CNW/ - Compliance Energy Corporation (the "Company" or "Compliance") is pleased to announce that it has completed the non-brokered private placement (the "Private Placement") of common shares announced on May 5, 2014. The Company has issued 15.2 million common shares (the "Shares") at a purchase price of $0.025 per share for gross proceeds of $380,000. The Company has paid a $38,000 cash finder's fee in connection with the Private Placement.
The Shares issued under the Private Placement are subject to a four month hold period which expires October 1, 2014. The proceeds of the financing will be used in connection with the Company's Raven project and for general working capital purposes, and will not be used primarily to pay management fees.
On behalf of the Board of
COMPLIANCE ENERGY CORPORATION
Grant Tanaka, CA
Chief Financial Officer
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
Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements.
SOURCE: Compliance Energy Corporation
For further information:
Contact Steve Ellis, President & COO at 250-871-7910 or Grant Tanaka, CFO at 604-689-0489 for further information.