Coventry Resources Inc.

Coventry Resources Inc.

December 15, 2015 09:00 ET

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.

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