Kent Exploration Inc. Closes Second and Final Tranche of Private Placement
June 6, 2013
NEWS RELEASE KEX2013-09
KENT EXPLORATION INC. CLOSES SECOND AND FINAL TRANCHE OF PRIVATE PLACEMENT
Kent Exploration Inc. (the "Company" or "Kent") announces that it has closed the second tranche of its previously announced financing by way of a private placement. A total of 3,561,400 units were issued to raise gross proceeds of $351,640. Each unit consists of one common share and one-half share purchase warrant, with each whole warrant entitling the holder thereof to purchase one additional common share at a price of $0.15 per share, exercisable on or before May 27, 2015.
The funds raised are to be used for general and administrative purposes, Flagstaff barite project, New Zealand Gold Projects, and potential property transactions.
All securities issued under the private placement are subject to a four-month hold period expiring on September 29, 2013.
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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"
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.
410-744 W. Hastings Street, Vancouver, BC, V6C 1A5 Ph: 604-684-3394, Toll free: 1-866-399-6539, Fax: 1-888-282-7763 http://www.kent-exploration.com