Daleco Resources Settles Litigation.WAYNE, Pa.--(BUSINESS WIRE)--Sept. 12, 1997-- Daleco Resources Corp. (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, reported Friday that as a result of court mandated mediation, 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. Westlands Resources Corp. has reached a settlement agreement with Reserve Production Inc., Liquidating Trust, Leonard Pipkin, Trustee, and Reserve Production Liquidating Partnership resolving all outstanding legal actions between the parties. He added that, as a result of the settlement, the company can concentrate on the development of its oil and gas properties in the Austin Chalk Trend of the Upper Texas Gulf area and the marketing of the tropical hardwoods controlled by its subsidiary, Sustainable Forest Industries Inc., in Guyana, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Daleco Resources is an international natural resource company with holdings in oil and gas, timber and precious minerals. -0- 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 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.
CONTACT: Daleco Resources Corp. Dov Amir, 310/282-9999 Gary J. Novinskie, 610/254-4199 |
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