Kent Announces Private Placement
June 24 2011 - 7:03PM
Marketwired
Kent Exploration Inc. (TSX VENTURE: KEX)(FRANKFURT: 7KX) (the
"Company" or "Kent") announces that, subject to approval by the TSX
Venture Exchange ("TSX-V"), it is conducting a non-brokered private
placement consisting of 12 million Units at $0.05 cents per Unit.
Each unit will consist of one (1) common share and one (1)
non-transferable common share purchase warrant. Each warrant is
exercisable for a period of two (2) years from closing and will
entitle the holder to purchase one additional common share in the
capital stock of the Company at a price of $0.10 per common share.
Shares subscribed for in the Private Placement are subject to a
four (4) month plus one day hold period.
Finder Fees may be paid pursuant to the policies of the
TSX-V.
Kent Exploration Inc. is a junior exploration company that has
acquired the Alexander River, Paparoa and Lyell gold projects in
the highly prolific Reefton gold field in New Zealand and has an
approximate 35% interest in, and is the controlling shareholder of,
Archean Star Resources Inc, ("Archean") which is listed on the TSX
Venture Exchange under the symbol ASP. Archean's wholly owned
subsidiary, Archean Star Resources Australia, Pty, Ltd, ("ASRA")
has an Option Agreement, subject to a 75% back in right, to earn
100% of Teck's interest in Chalice Gold Mines Limited's Gnaweeda
Gold Project in West Australia.
The Company has an option to earn a 100% interest in the Silver
Hills property, a silver/lead/zinc prospect in south-eastern
British Columbia, The Company has a 100% interest in Coal
Prospecting Permits covering approximately 92,000 ha in
east-central Saskatchewan; a 100% interest in a mining lease option
on the Flagstaff Mountain property, a
barite-gold-silver-zinc-property in eastern Washington state,
having a fully permitted mine which is approved to produce up to
100,000 tons of barite per year, and a 100% interest in the mining
lease option on the Ivanhoe Creek property, a Midas-style
gold/silver target in Nevada's Carlin Trend, and 50% of a 100%
interest in the Ivanhoe Creek placer claims covering a bentonite
deposit.
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.
Contacts: Kent Exploration Inc. Graeme O'Neill President
604-684-3395 or Toll Free: 1-866-399-6539 1-888-282-7763 (FAX)
www.kent-exploration.com
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