VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2012) - Kent Exploration Inc. (TSX VENTURE:KEX)(PINKSHEETS:KXPLF)(FRANKFURT:7KX) (the "Company" or "Kent") reports that it has completed the consolidation of its common shares on the basis of one (1) new common share for ten (10) old common shares as approved by shareholders at the Company's annual meeting of shareholders held on September 25, 2012. Effective Monday, October 15, 2012, the common shares of the Company will commence trading on the TSX Venture Exchange on a consolidated basis.
Letters of transmittal describing the process by which shareholders may obtain new share certificates representing their consolidated common shares will be mailed to the registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their own name will not be required to complete a letter of transmittal. No fractional shares will be issued under the share consolidation and any fraction will be rounded down to the nearest whole number.
Following the consolidation and subject to rounding, the Company will have issued and outstanding 8,947,118 common shares and 281,500 stock options and 2,897,580 warrants.
Kent Exploration Inc. is a junior exploration company with a 100% interest in all its major projects, and is planning on building shareholder value through establishing cash flow from its Flagstaff Mountain, WA, barite mine, and then from its now wholly owned bentonite property in Nevada. Any positive cash flow is intended to reduce dilution and fund exploration on its three major gold prospects (Alexander River, Paparoa and Lyell), in the highly prolific West Coast South Island gold fields of New Zealand. Additional shareholder value has been established through its approximately 18% interest in Archean Star Resources Inc, ("Archean") which is listed on the TSX Venture Exchange under the symbol ASP.
The Company has an experienced management and technical team with extensive exploration expertise and offers investors the potential for a major gold discovery on its New Zealand gold projects.
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
Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), has reviewed, nor do they accept responsibility for, the adequacy or accuracy of this news release.