Daleco Resources' Subsidiary, Clean Age Minerals, Inc. Reports Encouraging CA-Series Test Results in Agricultural Applications.Business Editors ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Dec. 10, 2002 Clean Age Minerals, Inc., a Wholly Owned Subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Daleco Resources Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :DLOV) Dov Amir, Chairman of Daleco Resources Corporation reported today that its wholly owned subsidiary Clean Age Minerals, Inc. has been able to achieve significant odor mitigation and nutrient capture results from the interim testing of the application of its Patented CA-Series Products on agricultural manure. He adds that the results are another confirmation of commercial application of the patented environmental product. Gary Novinskie, Daleco's President, noted that since the acquisition of Clean Age Minerals in the later part of 2000, and with the assistance of our strategic partner, Sumitomo Corporation Sumitomo Corporation (住友商事, Sumitomo Shōji) TYO: 8053 is a highly built worldwide trading company (Sogo shosha), and is a diversified corporation based in Tokyo, Japan. It is a member company of the Sumitomo Group. of America, a great deal of effort has been expended ex·pend tr.v. ex·pend·ed, ex·pend·ing, ex·pends 1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend. 2. to redefine the potential and identify recurring market applications for Clean Age Mineral's CA-Series products. The environmental issues associated with the expanded use of so called "factory farms" and their potential discharge of offensive odors Odors anosmia Medicine. the absence of the sense of smell; olfactory anesthesia. Also called anosphrasia. — anosmic, adj. halitosis bad breath; an unpleasant odor emanating from the mouth. and for ground water contamination from excessive nutrient runoff presented just such an application. Clean Age Minerals' President, Robert E. Martin, stated that the "bench testing" of the Company's CA-Series materials with respect to environmental issues associated animal wastes has been an ongoing process. He noted that the latest round of tests were initiated in late 2001 and have specifically focused on waste generated from hog and poultry farms. These types of operations were selected because they tend to utilize significantly higher concentrations of animals and therefore represent greater concentrations of potential environmentally unfriendly discharges. He added that Clean Age has been able to reduce odors more than 75% and capture as much as 80% of the nutrient components (NPK NPK Nitrogen, Phosphorous, Potassium NPK Non-Player Killer ) initially contained in the raw liquid and solid fractions of the waste stream samples. The Company believes that the capture or "cleansing" rate is critically important when treating waste streams with high liquid fractions (95-98% liquid) such as those associated with the hog industry. He concluded by noting that the Agricultural Sector is a key segment being addressed the Company's marketing and distribution partner, Sumitomo Corporation of America. Daleco Resources is an international asset and technology aggregation and monetization company with operating subsidiaries active in oil and gas, timber, minerals, environmental remediation Generally, remediation means providing a remedy, so environmental remediation deals with the removal of pollution or contaminants from environmental media such as soil, groundwater, sediment, or surface water for the general protection of human health and the environment or from a and technology. Clean Age Minerals, wholly owned subsidiary of Daleco Resources Corporation, is a mineral extraction and processing company with holdings in New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , Texas, and Utah. The Company focuses on the utilization of its minerals and Patented CA Series of Products in industrial and environmental application. Sumitomo Corporation of America, wholly owned subsidiary of Sumitomo Corporation, is a fully integrated trading and investment enterprise with offices in 14 major U.S. Cities. Safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the Company's international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , imprecision in estimating product reserves and the Company's ability to replace and expand its holdings. |
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