Kent Exploration Inc.

Kent Exploration Inc.

June 26, 2008 18:01 ET

Kent Exploration Inc.: Private Placement Closed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2008) - Kent Exploration Inc (the "Company") (TSX VENTURE:KEX) reports that the TSX Venture Exchange has accepted for filing the Company's previously announced $400,000 non-brokered private placement. Due to oversubscription, and in accordance with the policies of the TSX Venture Exchange, the Company has raised an additional $30,000 for total gross proceeds of $430,000.

Units were priced at 20 cents and consist of one common share and one common share purchase warrant for a term of 2 years from closing. The exercise price for the common share purchase warrant is $0.30 cents for the first year and $0.38 cents for the second year. A total of 2,150,000 common shares and 2,150,000 common share purchase warrants are to be issued pursuant to the closing.

The gross proceeds from the sale of the Units are to be used for general corporate purposes, continuing exploration work on the Company's Rosebud, Flagstaff, and Silver Hill, properties, and work on Saskatchewan coal concessions if approved.

Insider M. England 50,000
Pro Group N. Segounis 200,000
W. Crocker 100,000

Finders fees payable:

Global Securities Corp, $1,500, Canaccord Capital, $8,175, M. Wright, $11,250

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, is earning a 100% interest in the Rosebud property, a gold/silver prospect in northern Arizona, has earned 50% of a 100% interest in the mining lease option on the Ivanhoe Creek property, a Midas-style gold/silver target and 50% of a 100% interest in the Ivanhoe Creek placer claims, covering a bentonite deposit in Nevada's Carlin Trend, and has a 100% option on the Silver Hills property, a silver/ lead/ zinc prospect in south-eastern British Columbia.

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


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
    (604) 684-3394 or Toll Free: 1-866-399-6539
    1-888-282-7763 (FAX)