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Compliance Energy signs definitive agreements to purchase coal, mineral and gas interests on Vancouver Island

Fasken
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Compliance Energy

On September 2, 2008, Compliance Energy Corporation announced that it had signed definitive agreements with West Fraser Mills Ltd. ("WFM") and with I-Comox Coal Inc,. a wholly owned subsidiary of ITOCHU Corporation and LG International Investments (Canada) Ltd., a wholly owned subsidiary of LG International Corp., to complete the purchase of approximately 29,000 hectares of WFM's freehold coal, mineral, and gas interests on Vancouver Island and to provide the funding necessary to reach a production decision on its Raven Coal Project which is within the WFM option lands. ITOCHU Corporation is a major Japanese trading house with extensive experience in the development of coal mines and the marketing and sale of coal globally and has investments in coal mines in Australia and Indonesia. LG International Corp. is a leading general trader in Korea with a worldwide overseas branch network and has abundant experience in coal mining development and the marketing and sales of coal worldwide. Compliance Energy was advised in the negotiation of this agreement by Fasken Martineau with a team that included, among others, Ron Ezekiel, Ian Cassie, John Kim and Allison MacInnis.

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