Coventree Provides Further Update on D&O Insurance Claim

    




 NEX Symbol: COF.H  

 TORONTO, Sept. 21, 2011 /CNW/ - Coventree Inc. (NEX: COF.H) ("Coventree"  or the "Company") today provided a further update on its previously  announced claim against Navigators Pro, on behalf of Lloyds Syndicate  1221 (Millenium Syndicate) (collectively, "Navigators Pro"), for  coverage under its directors and officers liability insurance policy  with Navigators Pro. 

 In October 2010, the Company commenced proceedings in the Superior Court  of Justice of Ontario against Navigators Pro in respect of its claim  for coverage under the policy to a limit of $5 million for the matters  that were the subject of the notice of hearing and related statement of  allegations issued by Ontario Securities Commission staff dated  December 7, 2009.  On September 13, 2011, the Court ruled that the  Navigators Pro policy is operative and must respond to the claim made  by Coventree for coverage under that policy.  Navigators Pro has now  appealed that decision to the Ontario Court of Appeal.  The date for  the hearing of the appeal has not yet been set but Coventree expects  that it will not be heard before 2012.  Until the appeal has been  resolved, there can be no assurance regarding when Navigators Pro will  pay under the policy nor as to whether Navigators Pro will be liable to  provide coverage at all. 

 This press release is intended for distribution in Canada only. 

 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. 

Coventree Inc.


CONTACT:  Craig ArmitageThe Equicom Group Inc.Tel: [phone] x278Email: [e-mail] -or-Ani Hotoyan-JolyCoventree Inc.Tel: [phone]Email: [e-mail] 


    

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