San Paulo share sale

Subject to a July 15 closing, San Paulo Explorations (ASE) has entered into an agreement to sell, on a private basis, one million shares in the capital stock of the company at $1 per share with warrants to purchase an additional 500,000 shares at $1.50 per share each by July 15.

Sale of the shares is not a flow- through issue, and the transaction is subject to regulatory approval. The company says the funds will be used for general corporate purposes and exploration work.