Compliance Energy intends to raise up to $1.5 million

TSX-V TRADING SYMBOL: CEC

VANCOUVER , Nov. 30 /CNW/ - Compliance Energy Corporation (the "Company" or "Compliance") announces that the Company intends to issue 5.4 million units ("Units") by way of a non-brokered private placement for gross proceeds of up to $1.5 million . Each Unit will be priced at $0.275 per Unit and will be convertible into one common share ("Common Share") of the Company and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one additional Common Share of the Company at an exercise price of C$0.40 per Common Share in the first year and $0.50 in the second year. Each Common Share issued under this non-brokered private placement will be subject to a four month hold period. This placement is subject to acceptance by the TSX Venture Exchange. Proceeds of the financing are to be used for general working capital purposes.

About Compliance Energy Corporation

Compliance Energy Corporation is a coal exploration and development company with an interest in over 75,000 acres of coal and mineral rights on Vancouver Island BC and that owns the Basin Coal Mine near Princeton BC. The company is focused on developing the Raven Coal Project for the Comox Joint Venture, of which it has 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. Company shares trade on the TSX Venture Exchange under the symbol CEC and investor information is available on the Company's web page at www.complianceenergy.com.

    
    On behalf of the Board of
    COMPLIANCE ENERGY CORPORATION

    John Tapics
    Chief Executive Officer


    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
    

Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements.

For further information: Greg Werbowski, Investor Relations or Rod Shier, CFO at [phone]