The company will conduct an institutional placement to raise around $37 million, with the ability to take oversubscriptions up to an additional $3 million.
Argonaut Securities, Canaccord Genuity and RBC Capital Markets are acting as joint lead managers.
Shareholders will also be given the opportunity to participate via a share purchase plan to raise up to $5 million.
The issue price for the offers is $2.70 per share, a 10.3% discount to yesterday's close.
Following completion of the institutional placement, Dacian will have around $92 million cash.
The company will use $12 million to extinguish a royalty covering the Jupiter pit.
At least $25 million - and as much as $33 million, depending on the amount raised - will be used for explora...