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Compliance Energy Corporation (“Compliance”) is a Canadian resource company that was incorporated under the provisions of the British Columbia Company Act on July 27, 2000, and on August 30, 2002, changed its name to Compliance Energy Corporation.
Compliance’s main properties are its approximately 29,000 hectares of freehold coal and mineral interests and 2,046 hectares of Crown Coal licences in the Comox Coal Basin on Vancouver Island, B.C. Through the Comox Joint Venture agreement, Compliance owns 60% of these interests and Itochu International and LG International own 20% respectively.
In addition to 60% of the coal and mineral interests, Compliance Energy Corporation holds freehold rights or has the crown licence application rights to 100% of the gas interests over the same 29,000 hectares. While the Comox Basin has significant exploration upside potential, the Comox Joint Venture is focused on developing the Raven Coal Deposit and the nearby Bear Coal Deposit.
Compliance also has optioned its Basin Coal Mine for consideration of cash and shares totaling $8.25 Cdn. to Jameson Resources Ltd., an Australian Company. The Basin Coal Mine is located near the town of Princeton, B.C.
Compliance is in discussions with B.C. Hydro to develop a wood waste power project located near Princeton, B.C. The project will be fuelled entirely by wood from the Princeton region, and the Timberline Natural Resource Group has completed wood fuel studies that show there is ample fuel for a 30-year plant life.
Compliance Energy Corporation’s corporate office is located in Vancouver, British Columbia. The shares of the company trade on the TSX Venture exchange under the symbol CEC.
The primary objective of Compliance is to be a significant coal producer through its holdings on Vancouver Island, British Columbia. We also believe in responsible stewardship and in managing Compliance with the utmost integrity based upon the practice of providing plain, true and clear information to our shareholders. The diversity and depth of our Management and Board of Directors provides Compliance with expertise and focus that will provide value for our shareholders.
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