Stade Exploration closes financing

Stade Exploration (ASE) has completed a private placement of 815,002 units at 75 cents each.

Each unit consists of one Class A share (issued on a flow-through basis), one special warrant to acquire an additional Class A share, and one purchase warrant.

The purchase warrant can be redeemed for a Class A share at 40 cents before Dec. 31, 1995. If the warrant is exercised before Sept. 30, 1994, the shares will be on a flow-through basis.

Net proceeds of the placement are $576,076, with an additional $326,000 possible if all the warrants are exercised.