EXHIBIT 99.02
DEER VALLEY CORPORATION ANNOUNCES NEW TICKER SYMBOL -DVLY - AND INTRODUCES NEW
BOARD MEMBERS
July 28, 2006
Deer Valley Corporation, ("Deer Valley" or the "Company") (OTCBB: DVLY, formerly
Cytation Corporation OTCBB: CYON), announced today that the Company's ticker
symbol has changed effective with the opening of the market, Friday, July 28,
2006. The new ticker symbol is "DVLY". The Company will continue to trade on the
over the counter bulletin board (the "OTCBB").
At the special meeting of shareholders announced earlier this week, the
shareholders of the Company changed the name of the Company, changed the
Company's domicile from Delaware to Florida, increased the number of common and
preferred shares authorized, and announced that it had strengthened its Board
of Directors with the addition of three new external directors: Hans Beyer, John
Giordano and Dale Phillips. The following information regarding these new
directors is provided as the Company welcomes their expertise to the Board.
HANS BEYER- Since February of 2005, Mr. Beyer has served as a partner
for Saxon Gilmore Carraway Gibbons Lash & Wilcox, P.A. At Saxon Gilmore Carraway
Gibbons Lash & Wilcox, P.A., he oversees and manages complex legal matters.
Since September 2005, Mr. Beyer has served as the Senior Vice President of
Mirabilis Ventures, Inc. At Mirabilis Ventures, Inc., he oversees private
equity investments. Mirabilis Ventures, Inc. is a diversified, privately-held
holding company with interests in a variety of companies in industries
including construction, business consulting, and software development. From
2003 to February 2005, Mr. Beyer was a partner at Buchanan Ingersoll, P.C.
Prior to 2002, Mr. Beyer was the founder and President of the Law Firm of
Hans Christian Beyer, P.A. Mr. Beyer holds a B.A. from the University of
Michigan and a J.D. from the University of Michigan Law School.
JOHN GIORDANO- For the past five years Mr. Giordano has served as Chair of
the Business, Tax and Corporate Finance Practice Group at Bush Ross, P.A., a
Tampa, Florida law firm. He is regularly involved in complex business-related
transactions, has extensive experience in a broad range of areas, including
federal and state securities law, corporate finance, mergers, acquisitions, and
tax law, and has acted as general corporate counsel for numerous
Florida-based public and private corporations. Mr. Giordano attended the
University of Florida, where he received a B.S., a J.D., and an L.L.M. in
taxation.
DALE PHILLIPS- For the past five years, Mr. Phillips has served as a
director and Vice President of Finance for RE Purcell Construction Co.,
Inc., a paving and utility contractor. He is also a director and Vice President
for Dalmari, Inc. Mr. Phillips holds an A.S. (1968) in Business Management
from Champlain College and a B.A. (1971) in Accounting from Castleton State
College.
Deer Valley CEO Charles G. Masters notes that "We are fortunate to have such
qualified individuals to serve on our Board of Directors. We expect the
combined experience and individual success of these men to translate into
immediate benefits to the Company and its shareholders"
ABOUT DEER VALLEY
Deer Valley, through its wholly owned subsidiary, Deer Valley Homebuilders, Inc.
is a growth oriented manufactured home builder with operations in Guin and
Sulligent, Alabama. The Company is dedicated to offering the highest quality of
homes that are delivered with a sense of warmth, friendliness, and personal
pride. The management of the Company has over 125 years of combined industry
experience from various backgrounds including general management, production,
sales, customer service, and finance. Additional information can be found at
http://www.deervalleyhb.com.
The corporate offices of Deer Valley are located at 4902 Eisenhower Blvd., Suite
185, Tampa, FL 33634. Questions may be addressed to Charles G. Masters,
President, at (813) 885-5998.
Forward-Looking-Statement: Except for factual statements made herein, the
information contained in this press release consists of forward-looking
statements that involve risks and uncertainties, including the effect of
changing economic conditions, competition within the manufactured home industry,
customer acceptance of products and other risks and uncertainties. Such
forward-looking statements are not guarantees of performance, and Deer Valley's
results could differ materially from those contained in such statements. You can
generally identify forward-looking statements through words and phrases such as
"forecast", "seek", "anticipate", "believe", "estimate", "expect", "intend",
"plan", "budget", "project", "may be", "may continue", "may likely result", and
similar expressions. Such forward-looking statements speak only as of the date
of this release, and Deer Valley undertake no obligation to publicly update any
forward-looking statements to reflect new information, events or circumstances
after the date of this release.
Contact Information:
Deer Valley Corporation, Tampa, Florida
Charles G. Masters (813) 885-5998