Daleco Resources Consumates Modified Equity Placement.Business Editors WEST CHESTER West Chester, borough (1990 pop. 18,041), seat of Chester co., SE Pa., W of Philadelphia; inc. 1799. Primarily residential, West Chester was long the trade and processing center for an agricultural region that is now mainly suburbs. , Pa--(BUSINESS WIRE)--Sept. 24, 2001 Dov Amir, Chairman of the Board and Chief Executive Officer announced today that Daleco Resources Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :DLOV) has consummated an equity transaction with Terra Silex Holdings, Ltd., a Pennsylvania Limited Liability Company, modified in form and amount from that proposed transaction previously announced. Under the term of the modified agreement, Daleco will issue 1,800,000 shares of Common Stock to the Terra Silex at a price of $1.25 per share in traunches tied to its capital needs. Mr. Amir added that the investment group will have two (2) seats on Daleco Board of Directors once all funds are in place. He concluded in saying that Daleco is pleased to have reached its agreement with Terra Silex and that its looks forward to a long term and prosperous relationship. Alfonso Knoll, Manager of Terra Silex Holdings, Ltd. stated "that in the addition to providing the equity capital needed to begin to monetizes Daleco's assets and technologies, Terra Silex will provide access to important industrial relationships which will be instrumental in the Daleco's future growth. Mr. Knoll also noted that Terra Silex believes that the time is right to advance the marketing of Daleco's 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 Technologies." Gary Novinskie, Daleco's President stated that the terms of the equity infusion were modified as a result of general capital market conditions. The level of funding is significant in that it will provide the capital necessary to initiate focused marketing efforts for both the minerals and environmental remediation technology held by Clean Age Minerals, its 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. as well as its other resource and technology segments. He also added that the relationship with Terra Silex should lead the way in the Company's natural transition from a focus on asset acquisition to that of monetization. The investment group is not intended to be limited to the initial financial arrangements but will encompass wider range of interaction to include additional business development activities. Daleco Resources Corporation is an international asset and technology aggregation and monetization company with operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. active in oil and gas, timber, minerals, and technology. 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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