Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

February 16, 2009 17:43 ET

Kent Exploration Inc.: 1,000,000 Unit Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2009) - Kent Exploration Inc (the "Company") (TSX VENTURE:KEX) announces that, due to a significant oversubscription of its previously announced private placement of 6 February, it is arranging a non-brokered private placement for 1,000,000 Units at $0.12 cents per Unit for gross proceeds of $120,000.

Each unit will consist of one (1) common share and one (1) common share purchase warrant. Each warrant will be exercisable for a period of one (1) year and entitle the holder to purchase one additional common share in the capital stock of the Company at a price of 18 cents per common share.

Due to the significant oversubscription of the private placement announced 6 February 2009, subscribers to that placement will have their subscriptions cut back on an equal basis and, at the subscriber's option, have the oversubscription amount applied to this private placement.

The gross proceeds from this private placement ($120,000) will be used for general corporate purposes, property acquisitions, and exploration work on the Company's properties. Finders fees may be payable on a portion of the private placement in accordance with the policies of the TSX Venture Exchange ("TSX-V").

The private placement will close when the final documentation is accepted for filing by the TSXV. Shares subscribed for in the Private Placement will be subject to a four (4) month hold period.

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 eastcentral Saskatchewan, and an option to acquire a 70% interest in CanAlaska Uranium's 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