TORONTO, ON--(Marketwired - April 10, 2014) - Delavaco Residential Properties Corp. ("Delavaco" or the "Company") (TSX VENTURE: DVO.U) (OTCQX: DELAF) announced today that its common shares have been approved for trading in the United States on the OTCQX marketplace. Delavaco will trade under the symbol "DELAF". U.S investors can find current disclosures and Real-Time Level 2 quotes for Delavaco on www.otcmarkets.com.
Delavaco will continue to trade on the TSX Venture Exchange under its existing symbol "DVO.U" in $USD.
"We are pleased to have received approval for trading on OTCQX. We have had a great number of requests for information about Delavaco from various individuals and funds from across the U.S. We are excited about expanding our shareholder base to an investing public that has the strongest knowledge of the U.S. marketplace, at an individual, retail, and institutional level," commented Andrew DeFrancesco, Chief Executive Officer.
With its move to OTCQX, Delavaco ensures its U.S. investors will have convenient access to its news, disclosure, and transparent trading, making it easier to analyze, value and trade its securities.
Dorsey & Whitney LLP will serve as Delavaco's Principal American Liaison on OTCQX, responsible for providing professional guidance on OTCQX requirements and U.S. securities law. vFinance Investments Inc., a division of National Holdings Corp., acted as sponsor and filed with FINRA on the Company's behalf to obtain the listing.
In a related move, Delavaco has announced that Company information will be made available via S&P Capital IQ's Market Access Program, an information distribution service that enables subscribing publicly-traded companies to have their company information disseminated to users of S&P Capital IQ's MarketScope Advisor.
About Delavaco Residential Properties Corp.
Delavaco Residential Properties Corp. was formed on January 27, 2011 to take advantage of the U.S. housing crisis, by its founders Andrew DeFrancesco and Dallas Wharton, with the goal of significant capital appreciation through the recovery of the housing sector. Now a public company, Delavaco has its shares listed and posted for trading on the TSX Venture Exchange and the OTCQX marketplace in the U.S. Delavaco is focused on the ownership and management of single and multi-family residential properties located principally in the south-eastern United States. Upon closing of the Transaction, Delavaco's real estate portfolio will consist of more than 520 single-family homes in Florida, more than 310 single-family homes in Georgia, more than 311 multi-family units in Florida and Texas and 96 multi-family units in New Jersey. Delavaco also manages a 316 multi-family unit portfolio in Hollywood Florida. Delavaco's acquisition strategy involves the identification and purchase of under-valued residential properties located in highly populated and dynamic urban centers within the lower to middle income demographic sector with tenants who qualify for government funding under the United States rental voucher assisted program. Delavaco's security holders include some of the leading Canadian institutional investors and real estate holding companies.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements with respect to Delavaco's intended acquisition focus. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; volatility of real estate prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; the ability of Delavaco to implement its business strategies; competition; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Additional information about Delavaco Residential Properties Corp. is available at www.delavacoproperties.com or www.sedar.com.