POLARX LIMITED — Capital/Financing Update 2017

Jul 25, 2017

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ASX ANNOUNCEMENT Dated 26 July 2017

NOTICE UNDER s708A(5)(E) OF THE CORPORATIONS ACT

Coventry Resources Limited (ASX:CYY) ( Coventry or the Company ) refers to its ASX Announcement of 19 July 2017 in relation to the issue of new Coventry shares as consideration for the acquisition of Vista Minerals Pty Ltd ( Vista ) ( Vista Acquisition ) and the placement to raise up to A$10 million (before costs) ( Placement ).

The Company is pleased to advise that it has today issued:

• (a) 459,821,368 fully paid ordinary shares pursuant to the Vista Acquisition; and

• (b) 274,750,000 fully paid ordinary shares in Coventry at an issue price of A$0.02 per share to investors pursuant to the Placement,

(collectively, the Shares ).

Cleansing Notice

The Company has issued the Shares without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) ( Corporations Act ).

For the purposes of section 708A(5)(e) of the Corporations Act, the Company notifies ASX that:

• (a) the Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under section 708A(5)(e) of the Corporations Act;

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (ii) section 674 of the Corporations Act; and

• (d) as at the date of this notice, there is no information that:

  • (iii) has been excluded from a continuous disclosure notice given to ASX in accordance with the ASX Listing Rules; and

  • (iv) investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

    • (A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

    • (B) the rights and liabilities attaching to fully paid ordinary shares.