VANCOUVER, March 1 /CNW/ - Compliance Energy Corporation ("Compliance" or the "Company) is pleased to announce that Mr. Jim Defer, who is a CA and member of the Canadian Institute of Chartered Accountants, has joined the Company as Chief Financial Officer effective March 01, 2010. Mr. Defer has significant experience in investment banking, capital markets, corporate finance, as well as accounting, valuation and financial advisory services. Most recently, he was head of investment banking for a Vancouver based firm and has held senior managerial roles with two major accounting and auditing firms. Jim brings the experience to assist the Company in effectively financing its Raven Project on Vancouver Island.
Mr. Rod Shier will remain with the Company as a board member and member of the audit committee. The Company would like to thank Mr. Shier for his for his past service as CFO and wish him well in his future endeavors as CFO of Copper Mountain Mining Corporation.
Mr. Defer has been granted 500,000 share purchase options exercisable at $0.28 per share for a period of five years.
About Compliance Energy Corporation
Compliance Energy Corporation is a coal exploration and development company with an interest in over 75,000 acres of coal and mineral rights on Vancouver Island BC and that owns the Basin Coal Mine near Princeton BC. The company is focused on developing the Raven Coal Project for the Comox Joint Venture, of which it has a 60% interest. The remaining 40% is owned by I-Comox Coal Inc. a subsidiary of Itochu Corporation of Japan and by LG International Investments (Canada) Limited, a subsidiary of LG International Corp. of Korea. Company shares trade on the TSX Venture Exchange under the symbol CEC and investor information is available on the Company's web page at www.complianceenergy.com.
On behalf of the Board of
COMPLIANCE ENERGY CORPORATION
Chief Executive 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: For further information: Greg Werbowski, Investor Relations at (604) 689-0489