Daleco Resources Corp. (OTCPK:DLOV) announced a private placement of 15,000,000 common shares at $0.10 per share for gross proceeds of $1,500,000 on March 25, 2013. The round will see participation from new investors Far East Investments, LLC and DTE Investment Ltd. The company will also issue warrant to purchase up to 18,000,000 shares exercisable at $0.20 per share for a period of two years.

In the third through fifth years of the exercise price may be satisfied by exchanging common stock at the current market price. The warrant may be exercised in whole or in part at any time during the term. As a part of the round investor will have the right to nominate two members of the on board of directors.

The investment will be received in two tranches. The company will issue 7,500,000 shares and 7,500,000 warrants in its first tranche and 7,500,000 shares and 10,500,000 shares in second tranche. Transaction is expected to close on or prior to April 15, 2013.

At the closing of first tranche, the company shall pay the investors' legal costs and expenses associated with this transaction of $25,000. Ehmann, Van Denbergh & Trainor, P.C will serve as legal counsel to the company. John E. Parker will serve as advisor to the investors.