Kent Exploration Inc. (TSX VENTURE:KEX) (the "Company") is pleased to announce
that it has entered into an arrangement agreement (the "Arrangement Agreement")
with 0982550 B.C. Ltd. ("Spinco"), currently a wholly-owned subsidiary of the
Company. 


Pursuant to the Arrangement Agreement, the Company has agreed to transfer
$100,000 cash to Spinco in consideration for common shares of Spinco and
distribute these common shares to the Company's shareholders pursuant to a plan
of arrangement under the Business Corporations Act (British Columbia) (the "Plan
of Arrangement"). 


The Company will seek approval of the Plan of Arrangement at an annual and
special general meeting of its shareholders to be held on December 13, 2013 (the
"Meeting"). Further information regarding the Arrangement Agreement and the Plan
of Arrangement will be set forth in the notice of meeting and information
circular to be prepared in connection with the Meeting. 


Should the Plan of Arrangement receive approval at the Meeting, it is
anticipated that the Plan of Arrangement will be made effective shortly
thereafter. Upon completion of the Plan of Arrangement, Spinco will become a
reporting issuer in British Columbia, Alberta and Ontario. Upon completion of
the Plan of Arrangement, it is intended that Spinco will enter into a definitive
agreement to acquire a business. Completion of the Plan of Arrangement is
subject to the approval of the Supreme Court of British Columbia and the TSX
Venture Exchange. 


Should the Plan of Arrangement be implemented shareholders of the Company will:



--  retain their current interest in the Company.
    
--  obtain a 100% interest in Spinco, which will be a reporting issuer in
    British Columbia, Alberta and Ontario and will have approximately
    $100,000 in cash to acquire a business.



The directors of the Company have unanimously concluded that the Arrangement is
in the best interests of the Company and fair to all shareholders of the
Company. 


The Company wishes to correct the disclosure in its news release KEX2013-11
dated November 7, 2013. The Company reported that it has entered into a Letter
of Agreement (the "Agreement") with American Mining Corporation ("AMCOR"). This
should read, and is amended to read "The Company has entered in a Letter
Agreement (the "Agreement") with American Cordilleran Mining Corporation"
("AMCOR").


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 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, as well
as its newly acquired historic Bayhorse Silver Mine. Additional shareholder
value has been established through its approximately 13% interest (9,981,416
shares) 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, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 


Caution Regarding Forward-Looking Statements - This news release contains
certain forward-looking statements, including statements regarding the business
and anticipated financial performance of the Company, including with respect to
completion of the Plan of Arrangement and the anticipated results thereof. These
statements are subject to a number of risks and uncertainties. Actual results
may differ materially from results contemplated by the forward-looking
statements. There is no guarantee that the Plan of Arrangement or the
acquisition of a business by Spinco will be completed as proposed or at all. The
Plan of Arrangement remains subject to approval of the Company's shareholders,
the Supreme Court of British Columbia and the TSX Venture Exchange. When relying
on forward-looking statements to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties and should not
place undue reliance on such forward-looking statements. The Company does not
undertake to update any forward looking statements, oral or written, made by
itself or on its behalf except as required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kent Exploration Inc.
Graeme O'Neill
President
604-684-3394 orToll free: 1-866-399-6539
1-888-684-0586 (FAX)
www.kent-exploration.com

Bayhorse Silver, Inc. (TSXV:KEX)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Bayhorse Silver, Inc. Charts.
Bayhorse Silver, Inc. (TSXV:KEX)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Bayhorse Silver, Inc. Charts.