VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/14/13 --
Kent Exploration Inc. (the "Company" or "Kent") (TSX VENTURE: KEX) (OTCBB: KXPLF) announces that, subject to approval from the TSX-Venture Exchange ("TSX-V") it has increased the previously announced non-brokered private placement of up to 4,000,000 Units at $0.10 per Unit for gross proceeds of up to $400,000, to 4,841,400 Units at $0.10 per Unit. Subject to filing with the TSX-V, it has closed the final tranche of 3,516,400 Units for gross proceeds of $351,640.
Each Unit consists of one (1) common share and one half of one common share purchase warrant, each whole warrant exercisable into one common share of the Company at $0.15.
Funds are to be used for general and administrative purposes, Flagstaff barite project, and New Zealand Gold Projects.
Finder fees may be payable on a portion of the financing according to the policies of the TSX-V.
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 permitted Flagstaff Mountain, WA, barite mine. Any positive cash flow is intended to reduce dilution and fund exploration on its three major high grade 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 15% 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.
Contacts:
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
