Daleco Resources Signs Letter of Intent to Acquire Strategic Mineral Development Company.WAYNE, Pa.--(BUSINESS WIRE)--Aug. 3, 1999-- Daleco Resources Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :DLOV) Dov Amir, Chairman of the Board and Chief Executive Officer, announced today that the Daleco Resources Corporation has signed a definitive Letter of Intent to acquire a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. active in the development and marketing of strategic non-metallic minerals. Mr. Amir stated that, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. independent geologic appraisal reports, the entity currently controls in excess of 3,000,000,000 tons of marketable minerals that have direct utilization in various industrial and environmental applications. He further added that in addition to the significant mineral holdings, Daleco would acquire the rights to a patented environmental process. The patented process has proven its potential application for use in a wide range of domestic and international remediation projects. The specific terms of the transaction were not disclosed but the Company indicated a total consideration in the range of $10,000,000 to $20,000,000, subject to the completion of final due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . Gary Novinskie, Daleco's president, stated that the acquisition is expected to close in 30 to 45 days. He pointed out that the announced acquisition of the mineral development company would expand and diversify Daleco's revenue base. Strategically, this acquisition is a natural fit with Daleco's objective of capitalizing on its historical expertise and contacts in natural resources and extractive extractive /ex·trac·tive/ (-tiv) any substance present in an organized tissue, or in a mixture in a small quantity, and requiring extraction by a special method. ex·trac·tive adj. 1. industries. The impact of the acquisition on the Daleco should be favorable not only in the near term but also in the future as the Company's planned marketing efforts take hold. 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: 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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