Delavaco Properties Inc. (the “Company”) has completed a private placement offering (the “Offering”) of 7.5% subordinated unsecured convertible debentures due December 20, 2014 for aggregate gross proceeds of US$10,000,000.

The Offering was conducted by a syndicate of agents led by GMP Securities L.P. and including Canaccord Genuity Corp., PowerOne Capital Markets Limited and Clarus Securities Inc. (collectively, the “Agents”).

Wildeboer Dellelce LLP acted for the Agents in connection with the Offering with a team that included Perry Dellelce, Peter Simeon, Darryl Holyday, Mack Hosseinian and Gordon Cassie (corporate/securities) and Kevin Fritz (tax).