Coventry Resources Inc.: Completion of A$0.68 Million Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 15, 2015) - Coventry Resources Inc. ("Coventry" or the "Company") (ASX:CYY) advises that it has raised approximately A$0.68 million via the issue of 22,732,429 common shares to be held in the form of CHESS Depositary Interests ("Shares") at an issue price of A$0.03 per Share, pursuant to the placement that it announced on December 7, 2015 ("the Placement"). The Placement was undertaken pursuant to the Company's capacity under Listing Rule 7.1A.
Net proceeds from the Placement will be used to continue to advance exploration and development of the highly prospective high-grade Caribou Dome Copper Project in Alaska, USA, including undertaking metallurgical testwork, geological modelling and preliminary economic studies.
The Company also advises that a further 129,000 Shares have been issued pursuant to the conversion of 129,000 options exercisable at A$0.026 each on or before June 30, 2018.
Contact
Coventry Resources Inc.
Mike Haynes
President and CEO
+61 8 9226 1356
mhaynes@coventryres.com
Coventry Resources Inc.
Ian Cunningham
Executive Director, CFO and Company Secretary
+61 8 9226 1356
+61 8 9226 2027
icunningham@coventryres.com
www.coventryres.com