Daleco subsidiary, SFI, awarded timber concessions.(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. :DLOV)(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) DALECO RESOURCES CORPORATION (DRC DRC Democratic Republic of Congo DRC Down (Stage) Right Center DRC Director(ate) of Reserve Components DRC Disability Rights Commission (United Kingdom) ) announced today that 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. , Sustainable Forest Industries, Inc. (SFI SFI Sustainable Forestry Initiative (forest certification program of AF&PA) SFI Santa Fe Institute (scientific research in Santa Fe, New Mexico) SFI Science Foundation Ireland SFI Six Figure Income ) was awarded additional timber concessions in Guyana, South America, totaling approximately 4240 acres. The concessions are in the same area and similar to the 1800 acres already owned by SFI. Evaluation by independent consultants attributed an uncut market value of $8,000,000 to the 1800 acres area. The Company believes that similar value per acre can be expected for the additional acreage which will increase the total value of SFI holdings to $26,600,000. In addition to current operations, SFI is now in the process of ordering the necessary equipment to expand, accelerate and enhance its timber operations in Guyana. The Company, having been founded on a philosophy of environmental conservation and protection, will develop its forest products operations under strict sustainable management principles to include selective harvesting, conservation of the forest's biological diversity as well as soil and water conservation. Daleco's Common Stock is listed on NASDAQ (DLOVF) and the Canadian Dealing Network (DLOV). -0- ON BEHALF OF THE BOARD Dov Amir President CONTACT: Louis Erlich, 310/282-9999 Dov Amir, 310/282-9999 |
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