5 August 2011
Kent closes final tranche of private placement for $127,150
Kent Exploration Inc. (the "Company" or "Kent") reports that, subject to acceptance for filing of the final documentation by the TSX Venture Exchange ("TSX-V"), it has closed the final tranche of its previously announced, up to 13,800,000 Unit non-brokered Private Placement, of 2,543,000 Units for gross proceeds of $127,150.
Each unit consists 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 for a period of twenty four months. Shares subscribed for in the Private Placement are subject to a four (4) month plus one day hold period.
Finder Fees consisting of 102,900 compensation warrants (the "Compensation Warrants") and $5,145.00 in cash is to be paid pursuant to the policies of the TSX-V.
The proceeds from the financing are to be used for the Flagstaff Barite Project, Alexander River Gold Project and for general and corporate purposes.
The Company has accepted the resignation of Ms. Trudy Holloway as the Corporate Secretary, and is pleased to announce the appointment of Ms. Adel Tagirova as the Corporate Secretary of the Company.
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
KEX2011-18
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