Guyana Goldstrike Closes Final Tranche of Oversubscribed Non-Brokered Private Placement

(TheNewswire)

Vancouver, Canada TheNewswire - April 15, 2021 Guyana Goldstrike Inc. (the "Company" or "Guyana Goldstrike") (TSXV:GYA ) ( OTC:GYNAF ) ( FSE:1ZT ) is pleased to announce the closing of the third and final tranche of the non-brokered private placement (the " Placement ") of units of the Company (" Units ") resulting in the issuance of an additional 3,450,000 Units at a price of $0.10 per Unit for gross proceeds of CDN$345,000.

In aggregate with the closing of the first and second tranche of the Placement, announced February 17 th and March 16 th , 2021 respectively, the Company has now issued 27,112,500 Units, for gross proceeds of $2,711,250.

Each Unit consists of one common share of the Company (a " Common Share ") and one Common Share purchase warrant (a " Warrant "), with each Warrant entitling the holder to purchase an additional Common Share at a price of $0.15 per share for a period of thirty-six months following the closing of the Placement.

In connection with the closing of the final tranche, arms-length agents received an aggregate cash fee of $2,400. In addition, the Company issued to agents 24,000 broker warrants (the " Broker Warrants "). Each Broker Warrant will entitle the holder thereof to purchase one Common Share at an exercise price equal to $0.15 for a period of thirty-six months following the closing of the Placement.

In aggregate with the closing of the first and second tranche of the Placement, arms-length agents received a cash fee of $12,800. In addition, the Company issued to agents 128,000 Broker Warrants.

Proceeds from the Placement will be used to pay liabilities, accounts payable, and for general working capital.  The securities issued pursuant to the final tranche of Placement are subject to a statutory hold period until August 16, 2021.

In aggregate with the closing of the first and second tranche of the Placement, certain insiders of the Company acquired 1,365,070 Units. This participation by insiders in the Placement constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 ") . However, the Company considers such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, exceeds 25% of the Company's market capitalization.

For further information, interested parties are encouraged to visit the Company's website www.guyanagoldstrike.com and the Company's profile on SEDAR ( www.sedar.com ) or contact the Company by telephone at 1.877.844.4661 or email info@guyanagoldstrike.com .    

On behalf of the Board of Directors of

Guyana Goldstrike INC.

Peter Berdusco

President and Chief Executive Officer

Neither the 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 certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.  When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information.  These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for gold,  and other factors or information.  Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties.  Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements.  The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

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