Dacha Capital inc.

Dacha Capital inc.

September 14, 2010 07:30 ET

Lt. Gen. Ronald Hite Joins Dacha Board

- Shareholders Approve Name Change

- August 31, 2010 Net Asset Value at $0.42 Per Share

TORONTO, ONTARIO--(Marketwire - Sept. 14, 2010) - Dacha Capital Inc. ("Dacha" or the "Company") (TSX VENTURE:DAC)(OTCQX:DCHAF) is pleased to announce that following the Company's annual and special meeting of shareholders held on September 13th, 2010, Lieutenant General (Retired) Ronald V. Hite has joined the Company as a director.

Lieutenant General Hite retired July 1, 1997 from the United States Army after 33 years of service. During his military career, General Hite held several senior military leadership positions and is a Vietnam War veteran. His last active duty assignment was as Military Deputy to the Assistant Secretary of the Army for Research, Development, and Acquisition, the Senior Military Advisor to the Army Acquisition Executive and the Army Chief of Staff on all research, development, and acquisition programs and related issues. He testified as a principal military witness for Research, Development, and Acquisition appropriations with Congress, supervised the Army's Program Executive Officer System, and also served as the Director, Army Acquisition Corps. Upon retirement from active duty, General Hite joined Cypress International, in Alexandria, Virginia, and retired as the Chairman and CEO in January 2005.

He holds a BA in Chemistry and a MS in Management Science, and is a graduate of several senior-level military schools. General Hite currently serves on various boards and advisory boards and is President of the East Tennessee State University Alumni Association.

Shareholders also approved the Company's change of name to Dacha Strategic Metals Inc. The name change remains subject to TSX Venture Exchange approval before the Company will commence trading under its new name and ticker symbol. 

In addition, the Company reports its estimated net asset value at August 31, 2010 was $30.5 million, or $0.42 per share, based on 72,159,214 million shares outstanding. The NAV is calculated on the Market Value of our physical inventory plus other historical assets and working capital. As at August 31, 2010, Dacha's physical inventory portfolio consisted as follows:

Metal inventory      
(in millions of Cdn dollars - unaudited) Quantity (Kgs) Cost Market Value
Held outside China          
  Dysprosium Oxide 5,000 $ 1.0 $ 1.5
  Dysprosium Fe 30,000   5.9   8.8
  Gadolinium Oxide 20,000   0.4   0.7
  Lutetium Oxide 3,000   0.9   1.1
  Terbium Oxide 13,000   6.7   8.5
  Yttrium Oxide 20,000   0.2   0.7
Held within China          
  Europium Oxide 6,000   2.6   2.7
  Yttrium Oxide 120,000   1.0   0.9
    $ 18.7 $ 24.9

About Dacha

Dacha is an investment company focused on the purchase, storage and trading of certain strategic metals. Its shares are listed on the TSX Venture Exchange under the symbol "DAC" 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 implications of the appointment and net asset value on the Company and the timing of future publications of same, the timing and receipt of regulatory approval in relation to the name change, the 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. Estimates regarding the anticipated impact of the appointment are based on previous professional accomplishments and competencies. 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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