Daleco Resources Closes $9,000,000 Private Placement of Equity.WAYNE Wayne, city (1990 pop. 19,899), Wayne co., SE Mich., a suburb of Detroit, on the Lower Rouge River; inc. as a village 1869, and with surrounding areas as a city 1960. It has automobile and aircraft industries and other varied manufactures. , Pa.--(BUSINESS WIRE)--Dec. 28, 1998-- Daleco Resources Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DLOV) Dov Amir, Chairman of the Board and Chief Executive Officer, announced today that Daleco has executed documents closing the private placement of $9,000,000 in exchange for 1,848,566 of Daleco common stock shares. As previously announced, the newly issued shares will represent 37.5% of the total projected 4,929,509 shares of common stock of the Company issued and outstanding, post funding. Mr. Amir added that the Company is very pleased with the confidence the investment group is showing in Daleco and its management's growth strategy for the future. Gary Gary, city (1990 pop. 116,646), Lake co., NW Ind., a port of entry on Lake Michigan; inc. 1909. Gary was founded by the U.S. Steel Corporation, which purchased the land in 1905 and landscaped it for a city. Novinskie, Daleco's President stated that the initial funds are earmarked for working capital, retirement of currently outstanding preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. and to satisfy other existing obligations of the Company and its subsidiaries. Mr. Novinskie noted that this financing provides the basis for the Company's ongoing operations and is the platform for the continued growth and expansion of the Company's natural resources operations as it prepares to enter the next millennium. He added that under the terms of the private placement agreement, the investment group will have the rights to receive warrants for the purchase of additional Daleco common shares as compensation for the acquisition of additional assets acquired through their assistance and financed by the investment group. As such, the Company, in concert with the investment group, is actively pursuing strategic expansion opportunities. Daleco Resources Corporation is an international natural resource company with holdings in oil and gas, timber and minerals. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : 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 domestic and 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 im·pre·cise adj. Not precise. im  pre·cise ly adv. in
estimating product reserves and the Company's ability to replace
and expand its holdings.
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