UPDATE: Coventry Resources Completes $6 Million Offering; Falls 4% to Day Lows

By MidnightTrader.com Staff,

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Coventry Resources Inc. (CYY.V) has completed its previously announced unit offering in Canada and Australia for total gross proceeds of C$6.0 million through the issuance of 18.75 million units of the company at a price of C$0.32 per Unit.

The company intends to use the net proceeds of the offering to fund development at its Cameron Gold Camp Project, to advance certain of its other properties, and for general working capital and corporate purposes.

CYY has fallen to day low 27 cents by nearly 4%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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