Daleco Resources Corporation Succeeds in Halting Trading On German Exchange.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)--June 7, 2004 Daleco Resources Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :DLOV) Gary Novinskie, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Daleco Resources Corporation ("Daleco"), reported today that subsequent to the Company's demand, the Berlin-Bremer Boerse, (stock exchange) in Germany, has confirmed the delisting and trading halt Trading Halt A pause in the trading of a particular security on one or more exchanges, usually in anticipation of a news announcement or to correct an order imbalance. During a trading halt, open orders may be cancelled and options may be exercised. of the Company's common shares on its exchange, effective June 4, 2004. As reported previously, the Company took these measures in response to the unauthorized listing of its securities on that exchange. Mr. Novinskie noted that the de-listing should prevent the use of the "Naked Short Selling Naked short selling, or naked shorting refers to the practice of selling a stock short without first borrowing the shares or making an "affirmative determination" that the shares can be borrowed. Dual Listing Arbitrage Loophole" in the US Security Regulations as it relates to the Company's common shares. Daleco Resources is an international asset and technology aggregation and monetization company with operating subsidiaries active in oil and gas, timber, minerals, environmental remediation and technology. The Company has holdings in the States of Alabama, New Mexico, Oklahoma, Pennsylvania, Texas, Utah and West Virginia and in Guyana, South America. 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, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings. |
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