POLARX LIMITED — Proxy Solicitation & Information Statement 2014

Jan 15, 2014

COVENTRY RESOURCES

Suite 504 – 602 West Hastings Street Vancouver, BC V6B 1P2 Tel: 604-632-9915 Fax: 604-632-9925

For Immediate Release Vancouver, British Columbia TSX Venture Exchange: CYY Australian Securities Exchange: CYY

COVENTRY RESOURCES ANNOUNCES AMENDMENTS TO INFORMATION CIRCULAR AND PROXY STATEMENT

January 16, 2014

Coventry Resources Inc. (ASX: CYY; TSXV: CYY) announces the following amendments to its Information Circular and Proxy Statement dated December 17, 2013 (the " Information Circular ") for its Special Meeting scheduled to be held on January 21, 2014.

The information on page 20 of the Information Circular under the heading "Treatment of Coventry Warrants" is deleted in its entirety and replaced with the following:

" Treatment of Coventry Warrants

Pursuant to section 2.15(c) of the Coventry Warrant Indenture, the exercise price of the Coventry Warrants and the exchange rate of the Coventry Warrants (being the number of Coventry Shares subject to the right of purchase under each Coventry Warrant), will be adjusted as a result of the Arrangement. The exercise price will be adjusted in accordance with the following formula:

Number of Current Market Price Aggregate Fair Coventry Shares x of Coventry Shares - Market Value of Outstanding On on Distribution Consideration Shares Distribution Record Date Distributed Record Date Exercise x ____________________________________________________________ = New Exercise price of Price of Coventry Number of Coventry Shares Current Market Price of Coventry Warrants Outstanding On Distribution x Coventry Shares on Warrants Record Date Distribution Record Date

The exchange rate will be adjusted in accordance with the following formula:

1 x Exercise Price Prior to Adjustment = New Exchange Rate" Adjusted Exercise Price"

The information on page 50 of the Information Circular under the heading "Treatment of Coventry Warrants" is deleted in its entirety and replaced with the following:

" Treatment of Coventry Warrants

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Pursuant to section 2.15(c) of the Coventry Warrant Indenture, the exercise price of the Coventry Warrants and the exchange rate of the Coventry Warrants (being the number of Coventry Shares subject to the right of purchase under each Coventry Warrant), will be adjusted as a result of the Arrangement. The exercise price will be adjusted in accordance with the following formula:

Number of Current Market Price Aggregate Fair Coventry Shares x of Coventry Shares - Market Value of Outstanding On on Distribution Consideration Shares Distribution Record Date Distributed Record Date Exercise x ____________________________________________________________ = New Exercise price of Price of Coventry Number of Coventry Shares Current Market Price of Coventry Warrants Outstanding On Distribution x Coventry Shares on Warrants Record Date Distribution Record Date

The exchange rate will be adjusted in accordance with the following formula:

1 x Exercise Price Prior to Adjustment = New Exchange Rate" Adjusted Exercise Price"

THE BOARD OF DIRECTORS OF COVENTRY RESOURCES INC.

STEVEN CHADWICK President and Chief Executive Officer Coventry Resources Inc.

For further information, please contact:

Steven Chadwick, President and CEO Coventry Resources Telephone (W): +61 8 9324 1266

Neither 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. This press release may contain forwardlooking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Corporation's ongoing quarterly and annual reporting. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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