Daleco Resources Corp. (OTCPK:DLOV) announced a private placement of 5,000,000 common shares at $0.10 per share for gross proceeds of $500,000 on January 17, 2013. The company will also issue warrants to purchase up to 2,000,000 shares at an exercise price of $0.50 per share. The warrants will expire on January 16, 2018. Each outside investor will invest a minimum of $25,000 in the transaction. The securities will be issued pursuant to exemption provided under Regulation D.

As of February 4, 2013, the company has raised $85,000 from two investors.

As of February 6, 2013, the company issued 2,450,000 shares for gross proceeds of $245,000 and warrants to purchase 980,000 shares of common stock.