Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

May 29, 2009 21:03 ET

Kent Exploration Inc.: Private Placement Closed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 29, 2009) - Kent Exploration Inc (the "Company") (TSX VENTURE:KEX) reports that the TSX Venture Exchange has accepted for filing the Company's previously announced non-brokered private placement, under which the Company has raised gross proceeds of $175,000. Units were priced at 10 cents and consist of one common share and one common share purchase warrant exercisable at $0.15 cents for a term of 12 months from closing. A total of 1,750,000 common shares and 1,750,000 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, property acquisitions, and exploration work on the Company's properties.

Insider participation: Graeme O'Neill, 51,000; Pro group participation: 49 North Resource Fund, 250,000.

The shares subscribed for under this placement are subject to a 4 month and one day hold period and will not be able to be traded until September 30, 2009.

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 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)
    www.kent-exploration.com