TORONTO, ONTARIO--(Marketwired - Jan. 8, 2014) -
NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES
Marc Muzzo announced today he was issued and has acquired control of, directly and indirectly, an aggregate of 6,268,218 common shares of Delavaco Residential Properties Corp. ("Delavaco") (TSX VENTURE:DVO.U) at a deemed price per share of US$1.15 in connection with the previously announced business combination of Delavaco Properties Inc. and Sereno Capital Corporation.
As a result of the business combination, Mr. Muzzo collectively owns or controls, directly or indirectly, an aggregate of 6,268,218 common shares, and controls right to acquire an additional 314,000 common shares upon the exercise of 314,000 common share purchase warrants. Such securities represent approximately 11.95% of Delavaco's issued and outstanding common shares (or approximately 12.48% on a partially diluted basis, assuming conversion of Mr. Muzzo's warrants).
The securities are held for investment purposes, and Mr. Muzzo may acquire additional securities, or dispose of his holdings of securities as investment conditions warrant.
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.