Goldstrike Resources Ltd.
TSX VENTURE : GSR

Goldstrike Resources Ltd.

February 17, 2015 07:45 ET

Goldstrike Completes $1,000,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2015) - Goldstrike Resources Ltd. (TSX VENTURE:GSR) is pleased to announce that it has completed its $1,000,000 non-brokered private placement announced on January 9, 2015. The net proceeds from the financing will be used to fund the Company's planned 2015 exploration program on its Yukon mineral properties, including a follow-up diamond drilling program at its flagship Plateau project, and for general working capital.

On closing, the Company issued 14,920,000 non-flow-through units (each a "NFT Unit") and 5,080,000 flow-through units (each a "FT Unit"), all at the price of C$0.05 per unit. Each NFT Unit is comprised of one common share and one share purchase warrant exercisable to purchase one additional share for C$0.06 for 60 months after the closing date. Each FT Unit is comprised of one common share which is a "flow-through" share for the purposes of the Income Tax Act (Canada) and one-half of a share purchase warrant, with each full warrant exercisable to purchase one additional share for C$0.10 for 24 months after the closing date. Shares issuable on any exercise of warrants comprised in the FT Units and NFT Units are not "flow-through" shares.

Commissions are payable to Aberdeen Gould Capital Markets Ltd., Sprott Private Wealth LP, Canaccord Genuity Corp. and Mr. Gerhard Merkel (each a "Finder") in connection with the financing as follows:

Finder Units Subscribed Cash Compensation Warrants
NFT Units FT Units Commission (1) (2)
Aberdeen 3,200,000 3,680,000 $24,080 224,000 257,600
Sprott 5,000,000 Nil $17,500 350,000 Nil
Canaccord Nil 700,000 $2,450 Nil 49,000
Merkel 2,000,000 Nil Nil 140,000 Nil
(1) Warrants issued as compensation in connection with distributions of NFT Units are each exercisable to purchase one share for $0.06 for 24 months after Closing.
(2) Warrants issued as compensation in connection with distributions of FT Units are each exercisable to purchase one share for $0.10 for 24 months after Closing.

All shares issued pursuant to the offering are subject to a four-month hold period expiring at midnight on June 13, 2015. Any shares issued pursuant to the exercise of warrants comprised in the FT Units and NFT Units, and any shares issued pursuant to the exercise compensation warrants will, if issued prior to June 14, 2015, also be subject to a four-month hold period expiring at midnight on June 13, 2015. The Company notes, in addition, that any shares issued pursuant to the exercise of incentive stock options referred to in the Company's January 13, 2015 news release will, if issued prior to May 14, 2015 be subject to a four-month hold period expiring at midnight on May 13, 2015. The January 13, 2015 news release inadvertently stated that such shares would not be subject to a hold period.

Goldstrike is a mineral exploration company with several discrete exploration projects in Yukon, Canada.

ON BEHALF OF THE BOARD

Terrence E. King, President & CEO

For new sections and maps on the Company's properties, including its flagship Plateau project, please visit Goldstrike's website at GoldstrikeResources.com. For further information follow the Company's tweets at Twitter.com/GoldstrikeRes

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions, and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements.

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