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TSX-V TRADING SYMBOL: CECVANCOUVER,
June 21, 2012 /PRNewswire/ - Compliance Energy Corporation ("Compliance" or the "Company) is pleased to announce that Mr.
Paul Krivokuca was appointed as a new member of the Board of Directors of the Company at the Company's Annual General Meeting.
Mr. Krivokuca is currently the Senior Vice President of Mining, Prairie State Generating Company, which has recently developed and commissioned a seven million ton per year underground room and pillar coal mine in
Illinois, USA. Prior to that, Paul was the Chief Operating Officer of Hillsborough Resources Ltd. and Quinsam Coal Corporation from
July 1996 to
December 2008. Quinsam Coal Corporation owns and operates the Quinsam underground coal mine approximately 50 miles northwest of the Raven Project.
"We are delighted to have Paul join our Board" stated
John Tapics, President & CEO. "His extensive experience in underground coal mining will be a key asset to us as we advance the Raven Project."
In conjunction with this appointment, the Board of Directors has approved the grant of 100,000 stock options to Mr. Krivokuca at an exercise price of
$0.15 per share. The options have a five year term and are subject to vesting over 12 months with one-quarter of the options vesting each quarter.
About Compliance Energy Corporation
Compliance Energy Corporation is a mining exploration and development company. Our primary holding is our interest in over 31,000 hectares of coal rights on Vancouver Island,
British Columbia, where we are focused on developing the Raven Underground Coal Project of which we hold 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).
The Company also holds a number of mineral exploration properties totaling over 24,000 hectares on Vancouver Island, BC which are 100% owned by the Company, some subject to certain royalty requirements. Our shares trade on the TSX Venture Exchange under the symbol CEC and investor information is available on our web site at
On behalf of the Board of