CANADA - Kent Enters Into IR Agreements, Reprices Options - 2 March 2009
VANCOUVER, BRITISH COLUMBIA, Mar 2, 2009 (Marketwire via COMTEX) --
http://www.tradingmarkets.com/.site/news/Stock%20News/2201569/
Kent Exploration Inc (the "Company") (TSX VENTURE:KEX) reports that
it has, subject to approval by the TSX Venture Exchange (TSX-V),
entered into a three (3) month IR Agreement at $4,000 per month and the
grant of 100,000 incentive stock options exercisable for five years at
$0.18 cents, with Market Smart Communications
Inc, and a four (4) month IR Agreement with Douglas Kerr at $1,000 per
month and the grant of 100,000 incentive stock options exercisable for
five years at $0.18 cents. Each of the agreements is renewable for an
additional period under the same terms and conditions.
Additionally, subject to TSX-V acceptance, the Company intends to reduce the exercise price of 1,970,000 incentive stock options
exercisable at 25 cents per common share, to an exercise price of 18
cents per share. In the case of insiders of the company, the repricing
of the stock options requires the approval of disinterested
shareholders. The company intends to seek such disinterested
shareholder approval for the amendment to insider options at its next
annual general meeting currently scheduled to take place in May of
2009. There has been no change to the expiry dates of the options.
Kent Exploration Inc is a junior exploration company that has a
100% interest in a mining lease option on the Flagstaff Mountain
property, a gold/silver/zinc/barite prospect in eastern Washington
state, 50% of a 100% interest in the mining lease option on the Ivanhoe
Creek property, a Midas-style gold/silver target in Nevada's Carlin
Trend, 50% of a 100% interest in the Ivanhoe Creek placer claims
covering a bentonite deposit,
100% interest in the Courtney Lake property, a silver/lead/zinc
prospect in north-east Saskatchewan, an option to earn a 100% interest
in the Silver Hills property, a silver/lead/zinc prospect in
south-eastern British Columbia, 100% interest in Coal Prospecting
Permits covering approximately 92,000 ha in east-central Saskatchewan,
and an option to acquire a 70% interest in the Reefton gold project in
New Zealand.
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
SOURCE: Kent Exploration Inc.
Kent Exploration Inc.
Graeme O'Neill
President
(604) 684-3394 or Toll Free: 1-866-399-6539
1-888-282-7763 (FAX)
Website: www.kent-exploration.com