TSX-V TRADING SYMBOL: CEC
VANCOUVER, July 30, 2015 /CNW/ - Compliance
Energy Corporation (the "Company). announces that its share capital
will be consolidated on the basis of one (1) new common share
without par value for every ten (10) existing common shares without
par value (the "Share Consolidation") effective at the opening of
the market on July 31, 2015. There are presently
78,139,283 common shares without par value issued and outstanding
and following the share consolidation, there will be 7,813,928
common shares without par value issued and outstanding.
The Share Consolidation was approved by the shareholders of the
Corporation at the annual and special meeting held on June 26,
2015. The Corporation does not intend to change its name in
conjunction with the Share Consolidation. Management of the
Corporation believes that the Share Consolidation will better
position the Corporation to raise the funds it requires to finance
its ongoing business activities including the acquisition of
mineral properties and exploration and development of its
properties.
On behalf of the Board
COMPLIANCE ENERGY CORPORATION
Mr. Stephen Ellis
President and COO
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