Oct. 10, 2012
/PRNewswire/ - Compliance Energy Corporation ("Compliance" or the "Company) is pleased to announce that Mr.
has been hired and appointed Vice President, Operations, for Compliance Coal Corporation. Compliance Coal in a wholly-owned subsidiary of the Company, and holds a 60% interest in over 31,000 hectares of coal rights on Vancouver Island,
, where we are focused on developing the Raven Underground Coal Project.
Mr. Ellis began his extensive coal mining career, spanning more than 30 years, in the
where he worked in both operational and technical roles in several underground coal mines before relocating to
in 2006 to Rio Tinto's Kestrel Mine. In late 2010, Stephen moved to the Pike River Coal Mine in
as Production Manager and then as Mine Manager. Mr. Ellis holds a First Class Mine Manager's Certificate of Competency in the
with mutual recognition of these in
"We are delighted to have Stephen join our team" stated
, President & CEO. "His extensive experience in underground coal mining operations in multiple jurisdictions is a rare commodity. We will be able to draw on his experience and knowledge to begin to build and train a team of other professionals as we advance the Raven Project."
In conjunction with this appointment, the Board of Directors has approved the grant of 150,000 stock options to Mr. Ellis at an exercise price of
per share. The options have a five year term and are subject to vesting over 36 months with one-third of the options vesting each year.
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,
, 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
) and by LG International Investments (
) 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