TSX-V TRADING SYMBOL: CEC
VANCOUVER,
May 21, 2013 /PRNewswire/ -
Compliance Energy Corporation ("Compliance" or the "Company)
announces that its subsidiary, Compliance Coal Corporation, on
behalf of itself and its joint venture partners, I-Comox Coal Inc.
(a subsidiary of Itochu Corporation of Japan) and LG International Investments
(Canada) Limited (a subsidiary of
LG International Corp. of Korea) has received correspondence from
the BC Environmental Assessment Office regarding the initial
screening of its Application for an Environmental Assessment
Certificate (the "Application") for the proposed Raven Underground
Coal Project. This correspondence is available on the Government of
British Columbia's Environmental
Assessment Office ("EAO") website at www.eao.gov.bc.ca .
In its correspondence, the EAO has determined
that at this stage the Application does not yet contain all of the
required information set out in the Application Information
Requirements ("AIR") and has decided not to accept the Application
for detailed review at this time. The screening review is a scan of
the Application for the purposes of determining whether the AIR
have been met, and does not constitute an in depth review to
determine whether or not issues have been addressed and resolved to
EAO's satisfaction. Receipt of Application screening comments is
typical and not unexpected after a first review. The Company and
its consultants are in the process of reviewing the comments
returned by the EAO and plan to provide clarification or additional
information and then resubmit the Application for further review
once the comments have been adequately addressed.
On behalf of the Board of
COMPLIANCE ENERGY CORPORATION
John Tapics
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.
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