TORONTO, ONTARIO--(Marketwire - Jan. 27, 2011) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Dacha Strategic Metals Inc. ("Dacha" or the "Company") (TSX VENTURE:DSM)(OTCQX:DCHAF) announced today that it has filed a preliminary short form prospectus in connection with a public offering (the "Offering") of common shares of the Company ("Common Shares"). The Offering will be conducted through a syndicate of agents led by BMO Capital Markets and including CIBC, TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Mackie Research Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc., Euro Pacific Canada Inc. and Wellington West Capital Markets Inc. (collectively, the "Agents"). In addition, the Company has granted the Agents an over-allotment option to purchase up to that number of additional Common Shares equal to 15% of the Common Shares issued pursuant to the Offering, exercisable at any time up to 30 days from the closing of the Offering. The Offering is subject to certain conditions, including regulatory approval and the approval of the TSX Venture Exchange.
The Offering size is targeted to be for gross proceeds of up to $100 million, with pricing to be determined in the context of the market. Final terms of the Offering will be determined at the time of pricing. The Company intends to use the net proceeds of the Offering for investments in strategic minerals.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Dacha Strategic Metals Inc is an investment company focused on the acquisition, storage and trading of strategic metals with a primary focus on Rare Earth Elements. Dacha is in the unique position of holding a commercial stockpile of Physical Rare Earth Elements. Its shares are listed on the TSX Venture Exchange under the symbol "DSM" and on the OTCQX exchange under the symbol "DCHAF".
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to completion of the Offering, the proposed use of proceeds, ability to attract financing, proposed investment strategy of the Company, general investment trends, and receipt of all regulatory approvals. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Dacha to be materially different from those expressed or implied by such forward-looking information. Although management of Dacha has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Dacha does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE 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.