TORONTO, ONTARIO--(Marketwire - March 10, 2011) - Dacha Strategic Metals Inc. ("Dacha" or the "Company") (TSX VENTURE:DSM)(OTCQX:DCHAF) announces that further to its press release dated January 27, 2011, it has decided to withdraw its public offering as set forth in a preliminary short form prospectus filed with the securities regulatory authorities in each of the provinces of Canada on January 27, 2011.
Dacha has seen a substantial rise in its metals inventory value since December 31, 2010 which has not been reflected in its share value. Therefore an offering at the current share price would not be in the best interest of its existing shareholders.
Dacha continues to pursue its business model for the acquisition of strategic metals, particularly Rare Earth Elements.
Dacha is an investment company focused on the acquisition, storage and trading of strategic metals with a primary focus on Rare Earth Elements. Dacha has the unique position of holding a publicly available stockpile of Physical Rare Earth oxides and its primary investment objective is to invest substantially all of its assets in Physical Strategic Metals to provide investors with access to this asset class without the mining risks associated with single asset exploration and development companies. 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 the offering, the proposed investment strategy of the Company and general investment trends. 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.
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