Jan 22 (Reuters) - Dragontail Systems Ltd DTS.AX :
* SIGNS TERM SHEET FOR A$20M IN NEW FUNDING CORNERSTONED BY STRATEGIC US INVESTOR
* ENTERED INTO A NON-BINDING TERM SHEET WITH ELDRIDGE INDUSTRIES, GOUDY PARK CAPITAL LP & ALCEON LIQUID STRATEGIES
* ISSUE PRICE OF PREFERENCE SHARES $0.1406
* FUNDING WILL SUPPORT PLANNED MAJOR EXPANSION INTO USA
* INTENDS TO APPLY PART OF FUNDS TO REPAY IN FULL EXISTING $4.3M (NYSE:MMM) CORPORATE LOAN WITH ALCEON