POLARX LIMITED — Capital/Financing Update 2012

Dec 19, 2012

1490 – 1075 West Georgia Street Vancouver, BC V6E 3C9 Canada

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Tel: 604 688 9478 Fax: 604 688 9458

20 December 2012 ASX Limited Level 8 2 The Esplanade PERTH WA 6000

**Timing

of Consolidation of Crescent Shares and compliance with TSX-­‐V Timetables**

Crescent Resources Corp. (to be renamed Coventry Resources Inc) has been notified by the TSX-V that it must carry out the consolidation of its ordinary shares on 7 January 2013 as per the timetable set down by the TSX-V.

Crescent notes that deferred trading of CDIs (ASX:CYY) will commence on 21 December 2012 and confirms for that purpose that all trading in, and the issue of, any CDIs is on a post-consolidation basis as previously announced to the market and as set out in the Scheme Booklet with Coventry Resources Limited (ASX:CVY) dated 9 November 2012.

Crescent confirms that CVY shareholders will be issued scheme consideration on a post consolidation basis as set out in the Scheme Booklet.