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Compliance

What now, Compliance?

John Snyder, Tide Change Comox Valley, May 18 2014

Now that the issuance of the coal license in the Anderson Lake area to Compliance Coal has come to light, including the fact that part of the tenure is in the sensitive Tsolum River watershed, the comments from Compliance are most interesting.

No plans for Compliance to act on granted licence

Scott Stanfield, Comox Valley Record, May 15 2014

The provincial gov-ernment has granted a licence to Compliance Energy Corp. for a tenure near Anderson Lake, but the company says it has no intention of exploring the 1,448 hectares north of Comox Lake.

Compliance Coal issued coal license in the Tsolum River watershed

Media Release, CoalWatch Comox Valley, May 8, 2014

The CoalWatch Comox Valley Society has uncovered information that indicates the BC Government has issued a coal license to Compliance Coal Corporation for a coal tenure in the Anderson Lake area, with part of the tenure in the sensitive Tsolum River watershed.

Compliance Energy posts record losses

CoalWatch News, April 23, 2014

Compliance Energy Corp. posted its 2013 financial statements today, reporting record losses and a dire financial situation for the company.

Its working capital going into 2014 is a deficit of $633,000, made up primarily from a cash position of $207,000 and liabilities of $875,000.

Coal mine application for operation near Buckley Bay still on hold

John Harding, Parksville Qualicum Beach News, Apr 1, 2014

Another self-imposed deadline has passed for Compliance Energy as it considers re-submitting an application for a coal mining operation less than 50 km from downtown Qualicum Beach.

Baynes Sound coal mine proponent readying another application

Scott Stanfield, Comox Valley Record, Jan 30, 2014

The proponent of a proposed underground coal mine near Baynes Sound hopes to reapply for an environmental certificate by about the end of March.

CBC On the Island: John Snyder on Itochu withdrawal from Comox Joint Venture

Host Gregor Craigie talks with John Snyder, CBC On the Island, August 28 2013.

They discuss the announced withdrawal of Itochu from the Comox Valley Joint Venture. The Comox Joint Venture is the proponent for the proposed Raven Underground Coal Project near Fanny Bay on Vancouver Island. In the original agreement, I-Comox Coal, a subsidiary of Itochu Corporation, held 20%, LG held 20%, and Compliance Coal Corp. held 60%.

Click here to listen to the discussion.

Partner's withdrawal would not 'have an overall effect' on Comox Valley coal mine

Scott Stanfield, Comox Valley Record, August 28, 2013

The proponent of a proposed coal mine near Baynes Sound downplays the significance of a minority partner's possible withdrawal from the project.

Raven proponent cites support

John Harding, Parksville Qualicum Beach News, August 27, 2013

Compliance Coal continues to work through the application process for a proposed mine near Buckley Bay and the company's CEO says the project has support from local residents.

CoalWatch's John Snyder told The NEWS recently the Raven project "doesn't have any social licence, never has, never will."

Comox coal joint venture loses a partner

Michael Briones, Comox Valley Echo, August 27, 2013

The Comox Joint Venture, the group behind the Raven Underground Coal Project, has lost one of its partners.

Raven Coal partner withdraws from Project

News Release, CoalWatch Comox Valley, August 26 2013

Recent documents from Compliance Energy Corporation (CEC) made public on August 23, 2013, have revealed that I-Comox Coal Inc., a wholly owned subsidiary of ITOCHU Corporation has issued notice that it would be withdrawing from the Comox Joint Venture.

Raven coal mine concerns heard

Scott Stanfield, Comox Valley Record, June 27, 2013

The regional district board heard several concerns Tuesday about another coal licence application from Compliance Coal Corporation. The company — which is the proponent of the proposed Raven underground coal mine in Baynes Sound and which holds a 60 per cent interest in the Bear Coal Deposit south of Comox Lake — has also expressed interest in exploring coal resources near Anderson Lake above Forbidden Plateau north of Comox Lake.

Tapics resigns at Compliance president

Scott Stanfield, Comox Valley Record, June 25, 2013

A company that wants to operate a coal mine in the Comox Valley near Baynes Sound announced Thursday that its president has resigned from the position.

"John Tapics has resigned as an officer of the company to pursue other opportunities," Compliance Energy Corporation said in a news release.

CEO of coal company with eye on Comox deposits resigns

Drew A Penner, Comox Valley Echo, June 26 2013

John Tapics has resigned as president and CEO of Compliance Energy Corp. as the company heads back to the drawing board to bang out a 12,000 page environmental application for a Fanny Bay-area coal mine after the BC Environmental Assessment Office rejected its last stab at it in May.

Compliance Energy CEO "Resigns"

News Release, Compliance Energy, June 20 2013

CEC REPORTS ON AGM RESULTS

Vancouver, Canada, June 20, 2013 – Compliance Energy Corporation (the “Company) is pleased to release the results of the vote for the election of directors held at the company's annual and special meeting of shareholders
on June 20, 2013. At the meeting, the number of directors was maintained at six and the following individuals were re-elected as directors of the company: James O’Rourke, John Tapics, Rodney Shier, Jamieson Merritt, Paul Willis, and Paul Krivokuca. Shareholders also ratified the Company’s Stock Option Plan and approved the Advance Notice Policy.

The Company also announces that John Tapics has resigned as an officer of the Company to pursue other opportunities. Mr. Tapics will continue on as an advisor and director and will aid in an orderly transition. The Company would like to thank Mr. Tapics for his dedicated and professional service as President and CEO and wish him well in his future opportunities.

Compliance Newest Coal License Application Is A Wake Up Call For The Comox Valley

Press Release, CoalWatch Comox Valley Society, June 17, 2013

On June 11, 2013 the Comox Valley Regional District ( CVRD) Committee of the Whole considered an Application for a provincial coal license filed by Compliance Coal Corporation (Compliance). The proposed license covers 1,672 hectares located in the Anderson Lake area in the Browns River watershed north of Comox Lake, and crossed through by the Strathcona Parkway to Mt. Washington.

Companies lining up with more coal mine proposals in Comox Valley region

Scott Stanfield, Comox Valley Record, June 12, 2013

The proponents of the Raven underground coal mine proposal in Baynes Sound have applied to the Province for another coal licence in the Comox Valley, while a second company is hoping to stake a claim in the Woodhus Creek/Oyster River area.

The Comox Valley Regional District committee of the whole approved Tuesday letters to the chief inspector of mines to inform terms and conditions of requested coal licences submitted by Compliance Coal Corporation and Hillsborough Resources Ltd.

Compliance CFO Jim Defer has "resigned"

Corporate Update, Compliance Energy Corp., June 5 2013

Vancouver, Canada, June 5, 2013 - Compliance Energy Corporation (the “Company) announces that Jim Defer has resigned as an officer of the Company to pursue another opportunity. Mr. Defer will continue on as an advisor and aid in an orderly transition until his successor is appointed. The Company would like to thank Mr. Defer for his dedicated and professional service as CFO and wish him well in his new opportunity.

Baynes Sound coal mine described as 'moral hazard'

Mike Bell, Comox Valley Record, June 3 2013

The insurance industry has a term that fits the Raven Coal Mine project to a T — moral hazard.

A moral hazard is a situation where an individual or company engages in a high risk venture, makes a short-term profit but leaves the downstream liabilities to someone else.

“Do-over”? Why was Compliance application deficient?

John Snyder, Tide-Change, May 30 2013

Now that the dust has settled from the recent Environmental Assessment Office (EAO) rejection of the Compliance Coal Corporation (Compliance) Application for an Environmental Assessment Certificate (Application), a review of the major information gaps in the Application raises some interesting questions.

Raven will re-submit

John Harding, Parksville Qualicum Beach News, May 22, 2013

Stephen Ellis says Compliance Coal remains undeterred.

The vice-president of the company behind the proposed Raven Coal Mine near Buckley Bay says Compliance plans to re-submit its application after the provincial environmental assessment office (EAO) rejected the company's first attempt last week.

Compliance Energy says it will resubmit the Raven Mine Application to the EAO

News Release, Compliance Energy Corp., May 21 2013

"The Company and its consultants ... plan to ... resubmit the Application for further review once the [EAO's] comments have been adequately addressed."

Public comment period soon about Raven coal mine

Arthur Caldicott, Comox Valley Record, May 9 2013

Why are we continuing with this Raven mine farce?

Compliance Energy, the company behind the proposed Raven coal mine, has been pitching a doomed project since the beginning.

Compliance Energy 2012 Annual Financial Statements

2012 Annual Financial Statements for Compliance Energy, April 25 2013

Deloitte LLP added this unprecedented "Emphasis of Matter" at the end of its note to shareholders of Compliance Energy Corporation at the beginning of the 2012 Annual Financial Statements.

Emphasis of Matter

Without qualifying our opinion, we draw attention to Note 1 in the consolidated financial statements which indicates that the Company has incurred losses from inception and does not currently have any revenue generating operations. Moreover, the Company has an accumulated deficit of $6,929,000 as at December 31, 2012 and incurred an operating loss of $1,255,000 for the year ended December 31, 2012. These conditions, along with other matters as set forth in Note 1 indicate the existence of a material uncertainty that may cast significant doubt about Compliance Energy Corporation’s ability to continue as a going concern.

(signed) “Deloitte LLP”
Chartered Accountants
April 25, 2013
Vancouver, British Columbia

Compliance applying for coal mine Environmental Assessment certificate

Scott Stanfield, Comox Valley Record, March 25, 2013

The filing process will be complete when the company delivers its 12,000-plus-page document.Compliance Coal Corporation has begun the provincial application for an Environmental Assessment certificate and the federal Environmental Impact Statement (EIS) for its proposed Raven Underground Coal Mining Project overlooking Baynes Sound.

Compliance Coal president/CEO John Tapics says the certificate is a key approval required for the project. He expects the mine will create about 350 full-time jobs and spinoff jobs in an "area that has had limited new private industry initiatives in the past few years,” he said by e-mail.

The Raven coal deposit covers about 3,100 hectares adjacent to Buckley Bay. The mine is expected to operate about 16 years.

Opposition to the project is widespread.

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