Dacha to raise C$25 million; European Nickel, Catalyst settle deals; Meta seals $3.21 million

By Stephanie N. Rotondo

Portland, Ore., Feb. 2 - Foreign issuers saw the majority of action in Tuesday's PIPE market, with little noise from the domestic side.

Dacha Capital Inc. announced plans for a C$25 million private placement. The company did not disclose what kind of securities would be sold, but did note that the market would dictate the price.

Meanwhile, European Nickel plc said it had raised £12.07 million from a private placement of equity. The funding is contingent upon shareholder approval.

Catalyst Copper Corp. not only officially changed its name - from Svit Gold Corp. - but also said that it had pocketed C$10.5 million from an equity placement. The proceeds will be used for a variety of things, including the repayment of outstanding debt.

And, Meta Financial Group Inc. settled a $3.21 million placement of stock with a single investor. Meta hopes to use the funds for its growth strategy.

Dacha seeks C$25 million

Dacha Capital, a Toronto-based merchant banking company, said it will raise C$25 million via a private placement of securities.

The company did not specify the type of securities that will be sold and calls seeking comment were not returned Tuesday. Pricing of the securities will be determined within the context of the market, Dacha said in a press release.

"The company intends to use the net proceeds from the financing to make opportunistic investments in physical strategic commodities, certain of which are currently unavailable, directly to investors," the release said.

"The company intends to acquire a strategic inventory of these metals with a primary focus on rare earth elements. Dacha will increase its net asset value by holding, selling and otherwise transacting in physical amounts of such minerals."

Dacha's stock (TSX Venture: DAC) ended steady at C$0.59. Market capitalization is C$13.35 million.

European Nickel deal done

European Nickel took in £12.07 million from a private placement of ordinary shares, the company announced.

The London-based nickel explorer sold 172.4 million shares at 7p per share.

"I am pleased by the strong support the placing has received on the back of the merger that we have also announced today with Rusina Mining NL our joint venture partner at Acoje," said Simon Purkiss, managing director, in a press release. "With these additional funds we will advance Ã'alda and Acoje while working to finalize the financing from China."

The financing is contingent upon receiving shareholder approval at an annual meeting on March 29.

European Nickel's equity (London: ENK) closed at 7.38p. Market capitalization is £33.2 million.

Catalyst settles stock sale

Catalyst Copper, formerly known as Svit Gold Corp., announced it had completed a C$10.5 million private placement of equity.

The company issued 100 million common shares in the non-brokered financing at C$0.105 per share.

Of the proceeds raised, C$4 million will be used for first-year exploration costs at the La Verde property porphyry copper project located in Michoacan State in west-central Mexico. Another $4 million will be used to repay Endeavour Financial Corp., with whom Catalyst has a $6 million non-revolving term facility. The remaining funds will be used for general working capital.

Calls seeking comment were not returned Tuesday.

Catalyst's shares were expected to being trading under its new symbol (TSX Venture: CCY) on Tuesday.

Catalyst Copper is a Vancouver, B.C.-based mineral resource company.

Meta seals $3.21 million

Meta Financial took in $3.21 million from a private placement of common stock, according to a regulatory filing.

NetSpend Holdings Ltd. was the investor.

Meta sold 150,000 of the shares at $21.40 each.

"The bulk of these proceeds will be used to support growth in the Meta Payment Systems division," the company said in the 8-K filing.

Meta's equity (Nasdaq: CASH) gained 53 cents, or 3.01%, to $18.11. Market capitalization is $46.4 million.

Meta Financial Group is a Storm Lake, Iowa-based financial services provider.

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