Kensington Resources Ltd. Warrants Set to Trade on September 7, 2005.VANCOUVER, British Columbia -- Kensington Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:KRT KRT Knight Ridder/Tribune KRT Keratin KRT Knights of the Round Table (Diablo gaming guild) KRT Khartoum, Sudan - Civil (Airport Code) KRT Kleene's Recursion Theorem ) (the "Company") reports that 5,029,499 share purchase warrants of the Company will commence trading on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. effective at the opening on September 7, 2005. The trading symbol for the warrants is KRT.WT. The warrants were issued in connection with a private placement of units completed in May 2005. Each warrant entitles the holder thereof to purchase one additional common share of the Company at a price of CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $2.50 per share until May 6, 2006. The warrants will be governed by the terms of a warrant indenture between the Company and Computershare Trust Company of Canada, as warrant trustee. The warrant indenture will provide for appropriate adjustments to the warrants in the event of stock dividends, subdivisions, consolidations and other forms of capital reorganization. Upon completion of the proposed Plan of Arrangement with Shore Gold Inc., each of these warrants of the Company will be exchanged for a warrant to purchase 0.64 shares of Shore Gold Inc. Shore Gold Inc. has agreed to use reasonable efforts to cause the listing of these warrants on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . Completion of the Plan of Arrangement is subject to, among other things, receipt of shareholder, regulatory and court approval. Please refer to the joint news release of the Company and Shore Gold Inc. dated August 15, 2005 for further details of the Plan of Arrangement. Kensington Resources Ltd. is an exploration and mine development company currently focused on the high potential Fort a la Corne Diamond Project in Saskatchewan. The management team includes strong technical expertise and is committed to reaching a diamond producer status for the realization of shareholder value. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.245%), De Beers Canada Inc. (42.245%), Cameco Corporation (5.51%) and UEM UEM Universidade Estadual de Maringa (State University of Maringa, Brazil) UEM Universidade Eduardo Mondlane (Maputo, Mozambique) UEM Unione Economica e Monetaria Inc. (carried 10%). After fifteen years of exploration at Fort a la Corne, the joint venture partners have entered into an accelerated results-driven advanced exploration and evaluation phase targeted on reaching a pre-feasibility decision in 2008. The Fort a la Corne Diamond Project includes 63 identified kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. bodies within the largest diamondiferous kimberlite cluster in the world. Robert A. McCallum, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. FORM 20-F FILE #0-24980 LISTED IN STANDARD & POOR'S The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Kensington Resources Ltd. (TSX VENTURE:KRT) |
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