New Phase for Coventry Resources Inc.
11 Fevereiro 2014 - 12:01PM
Marketwired
New Phase for Coventry Resources Inc.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 11, 2014) -
Following the completion of the Plan of Arrangement with Chalice
Gold Mines Ltd ("the Transaction"), Coventry ("the Company")
(ASX:CYY)(TSX-VENTURE:CYY) remains a viable dual listed entity with
adequate cash reserves to proceed. The Company will now actively
look for new exploration and development projects going
forward.
As part of the restructure of the group and reduction of
management overheads we announce the resignation of the following
Company Directors: Michael Haynes; Anthony Goddard; Eric Edwards;
and Don Halliday.
The Board of Directors wishes to express their appreciation for
the contribution of these Directors who were integral to the
establishment of the former assets within Coventry Resources
Inc.
Following the sale of the Company's most advanced assets to
Chalice as part of the Transaction the Company will retain one
hundred percent ownership of its Uncle Sam Project and tenements in
Alaska.
The Directors appreciate the ongoing support of Shareholders and
intend to continue to work to maximise shareholder value.
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.
Forward-Looking Statements
This news release may contain "forward-looking statements"
and/or "forward-looking information" within the meaning of
applicable securities regulations in Canada and the United States
(collectively, forward-looking information"). Any forward-looking
information contained in this news release is made as of the date
of this news release. Except as required under applicable
securities legislation, Coventry Resources Inc. ("Coventry") does
not intend, and does not assume any obligation, to update this
forward-looking information. Forward-looking information includes,
but is not limited to, statements with respect to completion of a
Feasibility Study, completion of new resource estimates,
construction or operation of a mine, mineral resource estimates,
drill plans, planned work programs, future upgrading of mineral
resources and expected outcomes. Often, but not always,
forward-looking information can be identified by the use of words
such as "plans", "expects, "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes",
or the negatives thereof or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might", or "will" be taken, occur or be achieved.
Any forward-looking information contained in this news release
is based on certain assumptions that Coventry believes are
reasonable, including, with respect to any mineral resource
estimates, the key assumptions and parameters on which such
estimates are based, that the current price of and demand for gold
will be sustained or will improve, that general business and
economic conditions will not change in a material adverse manner,
that financing will be available if and when needed on reasonable
terms, that supplies, equipment, personnel, permits and local
community approval required to conduct Coventry's planned
exploration and development activities will be available on
reasonable terms and that Coventry will not experience any material
accident, labour dispute, or failure of equipment.
However, forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Coventry to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking information. Such
factors include, among others, risks and uncertainties relating to
the actual results of exploration activities being different than
anticipated, cost of labour increasing more than expected, cost of
equipment or materials increasing more than expected, fluctuations
in the price of gold and other commodities, currency fluctuations,
mineral resources not being as estimated, unexpected variations in
mineral resources, grade or recovery rates, risk of accidents,
labour disputes and other risks generally associated with mineral
exploration and unanticipated delays in obtaining or failing to
obtain governmental or community approvals or financing. Although
Coventry has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking information, there may be other
factors that cause actions, events or results to not be as
anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Readers are cautioned not to place
undue reliance on forward-looking information due to the inherent
uncertainty thereof.
Coventry Resources Inc.Steven ChadwickPresident and CEO+61 8
9324 1266schadwick@coventryres.com
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