TORONTO, ONTARIO--(Marketwired - Dec. 24, 2014) -

NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES

Delavaco Residential Properties Corp. ("Delavaco") (TSX VENTURE:DVO.U) is pleased to announce that it has closed a brokered private placement (the "Offering") by issuing 1,861,210 units (each a "Unit") at a price of USD$0.90 per unit for gross proceeds of USD$1,675,089.00.

Each Unit consists of one common share and one half of a common share purchase warrant, with each full warrant exercisable at CDN$1.10 for 4 years. First Republic Capital Corporation acted as lead agent for the Offering. The Company paid aggregate cash commissions of $75,004.47 and issued a total of 100,006 broker warrants as finders' fees in connection with the Offering. Each broker warrant entitles the holder to purchase one Unit at USD$0.90 exercisable for 24 months.

The common shares and common share purchase warrants issued at closing are, and the common shares issued upon exercise of the common share purchase warrants will be, subject to resale restrictions pursuant to applicable securities laws requirements and notably to a hold period of four months plus one day from the closing date, expiring on April 24, 2015. The Offering remains subject to final acceptance by the TSX Venture Exchange.

About Delavaco

Delavaco Residential Properties Corp. was formed on January 27, 2011 to take advantage of the U.S. housing crisis with the goal of significant capital appreciation through the recovery of the housing sector. Now a public company, Delavaco has its shares listed 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. Delavaco's real estate portfolio consists of 816 single-family homes in Florida, Georgia and New Jersey, and 311 multi-family units in Florida and Texas. 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. 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.