Dacha Strategic Metals Inc. (“Dacha”) (TSX VENTURE: DSM) (OTCQX: DCHAF) announced today that it has commenced a court proceeding against Goodwood Inc., Salida Capital LP, Takota Asset Management Inc. and Longford Energy Inc. (collectively, the “Parties”), which exercise direction and control in the aggregate over 31.5% of the outstanding shares of Dacha. The court application alleges that the Parties were “acting jointly or in concert” within the meaning s. 91(1) of the Securities Act during their acquisition of common shares of Dacha without complying with the formal take-over bid and early warning requirements of Part XX of the Securities Act. Dacha seeks, among other things, an order of the court that the Bid Group violated Part XX of the Securities Act, by failing to make a formal take-over bid in accordance with section 94 of the Securities Act.
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”.