This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Daleco Announces $1.5 Million Investment And Sales Agreement With Far East Investments

WEST CHESTER, Pa., March 27, 2013 (GLOBE NEWSWIRE) -- Daleco Resources Corporation (OTCQB:DLOV) today announced that it has executed a $1.5 million Stock Purchase Agreement with Far East Investments, LLC ("FEI") based in Los Angeles, California and DTE_Investments, Ltd ("DTI) based in Kowloon, Hong Kong. In addition to the capital proceeds, the parties have entered into an Exclusive Sales Agency and Marketing Agreement for natural resources and products in which FEI and DTI will provide assistance to Daleco and its subsidiaries in establishing business relationships in China and throughout the Asian market.

Grant Lin, CEO of Far East Investments commented, "We have been following Daleco Resources for the past 18 months and have spent a considerable amount of time analyzing the company. Our team has been impressed by the expertise of their management team, the potential of their asset base, history in the marketplace, and potential intellectual property advantages. It is our belief that this new relationship can accelerate the asset monetization efforts of Daleco Resources and enhance the overall market value of the Company."

Michael Parrish, CEO of Daleco, stated, "I am very pleased that FEI and DTI have committed their time and resources to helping Daleco grow and expand into the Asian markets. In particular, China has a huge demand for natural resources and represents a major active player within the natural resource sector on an international scale. As such, we anticipate that our newly established relationship with FEI and DTE will have a tangible impact on the Company's future results."

Additional details related to this announcement can be found in Daleco Resources Current Report on Form 8-K filed on March 27, 2013 with the Securities and Exchange Commission.

Daleco Resources is a natural resource company with operating subsidiaries and natural resource holdings active in oil and gas, industrial minerals, and environmental remediation technology. For further information on Daleco and clean age technologies, please visit www.dalecoresources.com .

Safe harbor 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 that 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, and risk inherent in the Company's operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.

CONTACT: Investor Relations:
         Alan Sheinwald
         914-669-0222
         asheinwald@allianceadvisors.net

Daleco Logo

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs