Kent Exploration closes private placement
by Jo Black
Kent Exploration Inc reports that the TSX Venture Exchange has accepted for filing the Company’s previously announced non-brokered private placement, under which the Company has raised gross proceeds of $400,500.
Units were priced at 15 cents and consist of one common share and one common share purchase warrant exercisable at $0.225 cents for a term of 18 months from closing. A total of 2,670,000 common shares and 2,670,000 common share purchase warrants are to be issued pursuant to the closing.
The gross proceeds from the sale of the Units are to be used for continuing exploration work on the Company’s 100% optioned Rosebud AZ, and Flagstaff properties and for general corporate purposes.
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