OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Delavaco Residential Properties Corp. (TSX-V: DVO; OTCQX: DELAF), an acquirer, owner and manager of multi-family residential properties located principally in the southeast U.S., has been approved to trade on OTCQX®,( )the best marketplace with qualified companies.
Delavaco begins trading today on OTCQX under the symbol "DELAF."
"We are pleased to welcome Delavaco to OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Joining OTCQX will provide Delavaco convenient access to tools and resources that enable them to broaden their exposure to U.S. investors and enhance shareholder value. We look forward to working with Delavaco's management team as they provide a high quality trading and information experience for their investors in the U.S."
"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, CEO of Delavaco.
Dorsey & Whitney LLP serves as Delavaco's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements and U.S. securities laws.
Delavaco is focused on the ownership and management of single and multi-family residential properties located principally in the southeastern United States. The company's real estate portfolio consists of single-family homes in Florida and Georgia and multi-family units in Florida and Texas. 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.
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