By December 31, 2012
News release KEX2012-11
Kent Exploration Inc Announces Non-Brokered Private Placement, closes first tranche.
Kent Exploration Inc. (the "Company" or "Kent") announces that, subject to approval from the TSX-Venture Exchange ("TSX-V") it is conducting an up to 4,000,000 Unit non-brokered private placement at $0.10 per Unit for gross proceeds of up to $400,000, and, subject to filing with the TSX-V, it has closed a first tranche of 1,325,000 Units for gross proceeds of $132,500.
Each Unit will consist 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, New Zealand Gold Projects, and potential property transactions.
Finder fees may be payable on a portion of the financing according to the policies of the TSX-V.
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Kent Exploration Inc is a junior exploration company with interests in the Alexander River, Paparoa and Lyell gold projects in the highly prolific Reefton gold field in New Zealand. It holds approximately 10,000 common shares of Archean Star Resources Inc, which has recently acquired an interest in the Monitor, high grade, copper gold project in the Coeur D'Alene Mining District, and has a 100% interest in a mining lease on the fully permitted Flagstaff Barite Mine.
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
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release
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