Newstrike Resources Ltd. (TSX VENTURE:HIP) (“Newstrike” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the “Underwriters”) co-led by INFOR Financial Inc. and Cormark Securities Inc. pursuant to which the Underwriters have agreed to purchase 39,000,000 units (the “Units”) of the Company on a “bought deal” basis pursuant to a short form prospectus to be filed, subject to all required regulatory approvals, at a price per Unit of $1.32 (the “Issue Price”) for gross proceeds of $51,480,000 (the “Offering”).