TSX-V TRADING SYMBOL: CEC
VANCOUVER , May 5, 2014 /CNW/ - Compliance Energy Corporation ("Compliance" or the "Company") intends to complete a private placement
of up to 16,000,000 common shares at a price of $0.025 per share, to
raise gross proceeds of approximately $400,000 (the "Private
Placement"). The proceeds from the Private Placement will be used in
connection with the Company's Raven Project and working capital. The
Private Placement, including the pricing, are subject to the approval
of the TSX Venture Exchange. The shares will be subject to a four
month hold period.
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.
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