Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

March 02, 2009 08:00 ET

Kent Enters Into IR Agreements, Reprices Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2009) - Kent Exploration Inc (the "Company") (TSX VENTURE:KEX) reports that it has, subject to approval by the TSX Venture Exchange (TSX-V), entered into a three (3) month IR Agreement at $4,000 per month and the grant of 100,000 incentive stock options exercisable for five years at $0.18 cents, with Market Smart Communications Inc, and a four (4) month IR Agreement with Douglas Kerr at $1,000 per month and the grant of 100,000 incentive stock options exercisable for five years at $0.18 cents. Each of the agreements is renewable for an additional period under the same terms and conditions.

Additionally, subject to TSX-V acceptance, the Company intends to reduce the exercise price of 1,970,000 incentive stock options exercisable at 25 cents per common share, to an exercise price of 18 cents per share. In the case of insiders of the company, the repricing of the stock options requires the approval of disinterested shareholders. The company intends to seek such disinterested shareholder approval for the amendment to insider options at its next annual general meeting currently scheduled to take place in May of 2009. There has been no change to the expiry dates of the options.

Kent Exploration Inc is a junior exploration company that has a 100% interest in a mining lease option on the Flagstaff Mountain property, a gold/silver/zinc/barite prospect in eastern Washington state, 50% of a 100% interest in the mining lease option on the Ivanhoe Creek property, a Midas-style gold/silver target in Nevada's Carlin Trend, 50% of a 100% interest in the Ivanhoe Creek placer claims covering a bentonite deposit, 100% interest in the Courtney Lake property, a silver/lead/zinc prospect in north-east Saskatchewan, an option to earn a 100% interest in the Silver Hills property, a silver/lead/zinc prospect in south-eastern British Columbia, 100% interest in Coal Prospecting Permits covering approximately 92,000 ha in east-central Saskatchewan, and an option to acquire a 70% interest in the Reefton gold project in New Zealand.

This News Release has been prepared on behalf of the Kent Exploration Inc Board of Directors, which accepts full responsibility for its contents.

ON BEHALF OF THE BOARD

Graeme O'Neill, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Kent Exploration Inc.
    Graeme O'Neill
    President
    (604) 684-3394 or Toll Free: 1-866-399-6539
    1-888-282-7763 (FAX)
    Website: www.kent-exploration.com