LAVAL, April 24 /CNW Telbec/ - Stellar Pacific Ventures Inc."Stellar" has closed its private placement of 569 Series A units for gross proceeds of $569,000 and 117 Series B units for a gross proceed of $117,000 pursuant to an offering memorandum dated March 31, 2006. Each Series A unit consists of 3,200 flow-through common shares at a price of $0.25 per share for a total of $800 and 1,000 common shares at a price of 20 cents per share for a total of $200; and 1,000 common share purchase warrants of Stellar. Each Series B unit consists of 5,000 common shares at a price of 20 cents per share and 5,000 common share purchase warrants. Each warrant entitles its holder thereof to subscribe for one additional common share at a price of $0.25 at any time for a period of 12 months after the date of closing. A commission of 10 per cent of the gross proceeds raised under this offering may be payable to certain agents which acted as such pursuant to the offering memorandum. The agent may also receive agent's options equal in number to 10 per cent of the number of common shares sold under the private placement. Each agent's option will entitle the holder thereof to purchase one common share of Stellar at an exercise price of $0.25 until April 23, 2007. The securities issued under this private placement will be subject to a four-month hold period expiring on August 25, 2006. The proceeds of the private placement will be used to finance exploration activities and incur Canadian exploration expenditures (CEE) on the Vassan property, and for general working capital working purposes. "Michel Lemay" Michel Lemay President The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.