SOURCE: Deer Valley Corp.

November 22, 2010 10:07 ET

Deer Valley Corporation Announces Election of New Director

TAMPA, FL--(Marketwire - November 22, 2010) - Deer Valley Corporation, ("Deer Valley" or the "Company") (OTCBB: DVLY), announced that Mr. Shad L. Stastney has been elected to the firm's Board of Directors, effective November 22, 2011. Mr. Stastney will fill one of two vacancies on the Board and will bring the Board to six. Mr. Stastney is a founding partner of Vicis Capital LLC. He graduated from the University of North Dakota in 1990 with a B.A. in Political Theory and History, and from Yale Law School in 1994 with a J.D. focusing on corporate and tax law. From 1994 to 1997, he worked as an associate at Cravath, Swaine and Moore ("CSFB") in New York, where he worked in the tax group and in the corporate group, focusing on derivatives. In 1997, he joined CSFB's then-combined convertible/equity derivative origination desk. From 1998 through 2001, he worked in CSFB's corporate equity derivatives origination group, eventually becoming a Director and Head of the Hedging and Monetization Group, a joint venture between derivatives and equity capital markets. In 2001, he jointly founded Victus Capital Management, LP, and in 2004, he jointly founded Vicis Capital LLC.

Mr. Charles G. Masters, the Company's CEO and Chairman, welcomed Mr. Stastney by saying, "Because of Mr. Stastney's position with Vicis Capital, the Company's largest shareholder, he is thoroughly familiar with the Company, our industry and our management team. Shad brings to the Company's Board an impressive professional background and broad knowledge of securities regulations. We are very pleased to welcome Mr. Stastney to the Board. We expect to benefit greatly from the insight and economic expertise he will bring as we focus on positioning Deer Valley for continued success."

Forward-Looking-Statement: Except for factual statements made herein, the information contained in this press release consists of forward-looking statements that involve risks and uncertainties. Such forward-looking statements are not guarantees of performance, and Deer Valley's results could differ materially from those contained in such statements. You can generally identify forward-looking statements through words and phrases such as "forecast," "seeking," "pursuing," "anticipate," "believe," "estimate," "expect," "intend," "plan," "budget," "project," "may be," "may continue," "may likely result," and similar expressions. Such forward-looking statements speak only as of the date of this release, and Deer Valley undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

About Deer Valley

Deer Valley is a growth-oriented manufactured home builder with headquarters in Tampa, Florida and operations in Guin, Alabama. The Company is dedicated to offering high quality homes that are delivered with a sense of warmth, friendliness, and personal pride. The Company also owns one idle plant in Sulligent, Alabama.

The corporate offices of Deer Valley Corporation are located at 3111 W. Dr. MLK Blvd., Tampa, Florida 33607

Additional information can be found at: http://www.deervalleycorp.com

Contact Information

  • Contact Information:

    Deer Valley Corporation, Tampa, Florida
    Charles G. Masters
    (813) 418-5250
    cmasters@tampabay.rr.com