Grasslands Entertainment Inc.

Grasslands Entertainment Inc.

July 11, 2011 10:42 ET

Grasslands Entertainment Files Restated Financial Statements and Management Discussion and Analysis

TORONTO, ONTARIO--(Marketwire - July 11, 2011) - Grasslands Entertainment Inc. (TSX VENTURE:GEE) ("Grasslands" or the "Company") announces that it has filed revised Financial Statements ("Financials") and Management Discussion and Analysis ("MD&A") for the period ending March 31, 2011. The re-filing of the Financials and MD&A for this period does not change the stated results of the Financials previously filed by the Company.

The Financials were revised to comply with a request to reclassify $24,549 from Share Capital to Contributed Surplus which was a Black-Scholes related amount to warrants the Company had issued which had expired on December 12, 2010. The request was made by the Company auditors, Collins Barrow Toronto, LLP who were in the process of giving comfort to the Financials for the purpose of allowing the Company to proceed with the reverse take-over transaction with Lakeside Minerals Corp. The MD&A was revised to give increased disclosure regarding the nine (9) month results for the period ending March 31, 2011 as well as changes to the summary of quarterly results table.

About Grasslands Entertainment Inc.

Grasslands Entertainment Inc. is headquartered in Calgary, Alberta and is publicly traded on the TSX Venture Exchange under the symbol GEE. It creates, develops, finances, produces and distributes proprietary television programming for worldwide markets. Grasslands have a proven track record of producing quality, cost-effective programming with worldwide audience appeal.

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

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