The Trinidad & Tobago star has been a consistant performer for the Bolton reserve side this season but has found it hard to break into the first team squad on a regular basis.
Shakes will follow the lead taken by fellow Academy graduates Joey O'Brien, Jason Talbot and Charlie Comyn-Platt in accepting a loan move to a lower league club to gain experience.
Pirates boss Ian Atkins had hoped to have Shakes on board for tommorow's LDV Vans trophy clash with Southend United.
"Ricky has got real pace and can play either wide on the right or down the centre, so he could give us options, I'm not sure whether we will take him or not for tomorrow, but he was due down here today and we will have a look at him." he said