Goldstake Explorations Inc.
TSX : GXP
FRANKFURT : GOO

Goldstake Explorations Inc.

June 27, 2008 08:54 ET

Goldstake Completes $365,000 Private Placement

TORONTO, ONTARIO--(Marketwire - June 27, 2008) - Goldstake Explorations Inc. ("Goldstake" or the "Company") (TSX:GXP)(FRANKFURT:GOO) - Goldstake is pleased to announce that it has completed a non-brokered private placement financing of units (each, a "Unit") and "flow-through" units (each, a "Flow-Through Unit") of the Company.

Gross proceeds of $340,000 were received in consideration of the issuance of 4,533,333 Units at a price of $0.075 per Unit. Each Unit consists of one common share and one common share purchase warrant (each, a "Unit Warrant") of the Company. Each Unit Warrant entitles the holder to purchase one common share of the Company at a price of $0.09 until June 26, 2010.

Gross proceeds of $25,000 were received in consideration of the issuance of 333,333 Flow-Through Units at a price of $0.075 per Flow-Through Unit. Each Flow-Through Unit consists of one common share and one common share purchase warrant (each, an "FT Warrant") of the Company, each issued on a "flow-through" basis. Each FT Warrant entitles the holder to purchase one common share of the Company on a "flow-through" basis at a price of $0.09 until June 26, 2010.

The securities issued pursuant to the financing are subject to a four-month hold period expiring on October 27, 2008.

The flow-through proceeds of the private placement will be used to fund exploration of gold, copper, diamond, zinc and uranium prospects on the Corporation's McGarry Township, McVittie Township and Bancroft properties in Ontario, and the non-flow-through proceeds will be used for general corporate purposes.

Goldstake Explorations Inc. is a Canadian exploration and development company with gold, base metal, uranium and diamond projects in Canada, The USA and Australia. The Clay Property is one of two properties Goldstake has in the Kirkland Lake-Larder Lake section of the Abitibi greenstone belt.

Investors are invited to visit the Goldstake IR Hub at http://www.agoracom.com/ir/goldstake where they can post questions and receive answers or review messages already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to GXP@agoracom.com where they can also request to be added to the investor e-mail list in order to receive all future press releases and updates in real time.

For further information on any of Goldstake's mineral properties, corporate structure and corporate vision please contact:



Robert Cleaver 416-201-9223
Goldstake Office 905-829-3393
Robert Dillman 519-264-9278

Email: rcleaver@goldstake.com


The statements made in this Press Release may contain forward-looking statements that may involve a number of risks. Actual events or results could differ materially from the Company's expectations and projections.

Contact Information

  • Goldstake Explorations Inc.
    Robert Cleaver
    (416) 201-9223
    Email: rcleaver@goldstake.com
    or
    Goldstake Explorations Inc.
    Goldstake Office
    (905) 829-3393
    or
    Goldstake Explorations Inc.
    Robert Dillman
    (519) 264-9278