Stake Technology Announces Common Share Offering

August 11, 2003
Stake Technology Announces Common Share Offering

TORONTO--Aug. 11, 2003--Stake Technology Ltd. (Stake) (Nasdaq:STKL) (TSX:SOY) announced today, August 11, 2003 an offering of approximately 7,000,000 common shares to be issued from treasury. Marketing is expected to begin today on an overnight basis in the United States and in certain provinces of Canada. The net proceeds from any such offerings will be used primarily for general corporate purposes including future acquisitions, internal expansion projects and working capital requirements and to reduce outstanding indebtedness.

In connection with the offering, Stake has filed today a preliminary short form prospectus with the securities commissions in Ontario, Manitoba, Saskatchewan, Alberta and British Columbia in respect of a proposed offering of common shares. The Company has filed previously a shelf registration statement with the United States Securities and Exchange Commission (SEC) which has been declared effective by the SEC and allows the Company to make offerings of common shares, special shares, warrants, senior debt and subordinated debt securities or in any combination of up to U.S. $100 million.

The offering will be underwritten by a syndicate of underwriters consisting of Desjardins Securities Inc. and BMO Nesbitt Burns Inc. as Joint Bookrunners and Co-lead Managers, TD Securities Inc. as a Co-lead Manager.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state, province or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under securities laws of such state, province or jurisdiction. An offering may only be made in the aforementioned provinces of Canada by means of a prospectus and in the United States only by means of a prospectus and the related prospectus supplement.

Stake Technology Ltd., soon to be SunOpta Inc., is an owner/operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food markets. For the last five consecutive years, Stake was included in Profit magazine's 'Profit 100' list of the 100 fastest growing companies in Canada. The company has three business units: the Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; the Environmental Industrial Group, a producer, distributor, and recycler of environmentally friendly industrial materials; and the Steam Explosion Technology Group, which engineers and markets clean pulping systems using patented steam explosion technology. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector.

Websites: www.staketech.com or www.sunopta.com www.sunrich.com www.bei.ca www.steamexplosion.com www.sunrichvalley.com www.organickitchen.ca www.wildwestorganicharvest.com www.kettlevalley.net www.opta-food.com

Note: This news release may contain forward-looking information. Actual future results may differ materially. The risks, uncertainties, and other factors that could influence actual results are described in the Company's annual report to shareholders and in SEC filings.

    CONTACT: Stake Technology Ltd.
             Jeremy N. Kendall
             Steve Bromley
             Susan Wiekenkamp
             905-455-2528, ext 103
             info@staketech.com
             or
             Investor Relations Counsel
             The Equity Group Inc.
             Linda Latman, 212-836-9609
             www.theequitygroup.com

    SOURCE: Stake Technology Ltd.