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STAKETECH COMPLETES ISSUE

 NORVAL, Ont., May 3 /PRNewswire/ -- Jeremy N. Kendall, chairman and C.E.O. of Stake Technology Ltd. ("StakeTech"), today announced that Marleau Lemire, Securities Inc. has successfully completed the placement of 1,800,000 common shares of StakeTech for gross proceeds of US$1.8 million. The issue was substantially oversubscribed and represents the maximum allocation of the issue.
 StakeTech will use the proceeds in the further development of new applications for steam explosion technology in the production of ethanol from waste paper and the processing of the organic component of municipal solid waste into a soil enhancer and other recovered products.
 StakeTech produces and markets the patented StakeTech steam explosion system which is used to convert a wide range of waste materials such as biomass, waste paper, and municipal solid waste into a variety of higher value products such as pulp, environmental fuels, cattlefeed, and soil enhancers.
 -0- 5/3/93
 /CONTACT: Jeremy Kendall, chairman and CEO of StakeTech, 416-455-1990, or fax, 416-455-2529; or Michael Boyd of Marleau Lemire, 416-865-5510, or fax, 416-363-8739/


CO: Stake Technology Ltd. ST: Ontario IN: SU: OFR

GK -- NY076 -- 3874 05/03/93 14:29 EDT
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Publication:PR Newswire
Date:May 3, 1993
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