Daleco signs definitive consulting agreements and announces intent to proceed with merger.LOS ANGELES--(BUSINESS WIRE)--May 22, 1996--Louis Erlich, Chairman of Daleco Resources Corporation, announced today that Daleco signed definitive consulting agreements with Avonwood Capital Corporation, an investment banking firm located in Radnor, Pennsylvania Like many of the elite communities of Philadelphia's Main Line, Radnor is a picturesque enclave in Radnor Township, Pennsylvania in Delaware County. Part of Radnor is also in Tredyffrin Township, Pennsylvania in Chester County. , and Deven Resources, Inc., also of Radnor, who will assist in the management and development of Daleco's oil and gas properties and other natural resource holdings. Mr. Erlich and David Lincoln, President of Deven Resources, Inc., also jointly announced their intent to proceed with a planned merger of Daleco and Deven. Following the merger, Daleco plans to acquire and develop identified additional oil and gas properties. The general terms of the proposed merger have been agreed to in principle by the parties. The effective date of the merger is contingent on Adj. 1. contingent on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent upon, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent 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. , compliance with regulatory requirements and the signing of definitive documentation by the parties. Concurrently, Mr. Erlich announced the signing of an agreement with Bridgewater Capital Corporation, a Newport Beach, California Newport Harbor redirects here. For the MTV reality series, see . Newport Beach, incorporated in 1906, is a city in Orange County, California, 10 miles south of downtown Santa Ana. merchant banking firm, to help the company raise funds for the planned development and expansion programs. Daleco's common stock is listed on the 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 (DLOVF) and the Canadian Dealing Network Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. Inc. (DLOV). ON BEHALF OF THE BOARD Louis Erlich, Chairman CONTACT: Daleco Resources Corp. Louis Erlich, 310/282-9999 or Daleco Resources Corp. Dov Amir, 310/282-9999 |
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