Delavaco Residential Properties Corp.

Delavaco Residential Properties Corp.

January 29, 2014 08:00 ET

Andrew DeFrancesco Increases Ownership Stake to 10% in Delavaco Residential Properties Corp.

TORONTO, ONTARIO--(Marketwired - Jan. 29, 2014) -


Andrew DeFrancesco, Chairman and Chief Executive Officer of Delavaco Residential Properties Corp. ("Delavaco") (TSX VENTURE:DVO.U) announced today that he has acquired ownership and control, directly and indirectly, of 37,500 common shares of Delavaco. Mr. DeFrancesco now has ownership and control, directly and indirectly, of 5,243,804 common shares of Delavaco, representing 10.00% of Delavaco's issued and outstanding common shares (on a non-diluted basis).

Mr. DeFrancesco stated: "My acquisition of additional common shares of Delavaco at these levels shows the confidence I have in the company and the platform that we have built. I intend to acquire additional stock from time to time to reflect my continued confidence in Delavaco and its increasing value."

Mr. DeFrancesco acquired 5,116,304 common shares in connection with the previously announced business combination of Delavaco Properties Inc. and Sereno Capital Corporation, which closed on December 30, 2013. Since that time, Mr. DeFrancesco has acquired an additional 127,500 common shares in multiple trades through the facilities of the TSX Venture Exchange, at average prices ranging between US$0.97 and US$1.28 per share.

The securities are held for investment purposes, and Mr. DeFrancesco may acquire additional securities, or dispose of his holdings of securities as investment conditions warrant. These shares do not include common shares that may be held by other members of Mr. DeFrancesco's family, but over which Mr. DeFrancesco has no beneficial ownership or control.

Delavaco is listed on the TSX Venture Exchange under the symbol "DVO.U". The head office of Delavaco is located at 130 King Street West, Suite 2210, Toronto Ontario M5X 1A9.

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