Anchor Resources: subscriber will not exchange bonds at maturity

By Sarah Lizee

Olympia, Wash., Aug. 26 – Anchor Resources Ltd. said the subscriber of its exchangeable bonds does not intend to exercise its exchange right on the maturity date.

The company and the subscriber are in discussions on the next steps, according to an announcement.

Meanwhile, the subscriber confirmed that they are agreeable to a standstill for up to three months until Nov. 25 to facilitate discussions on any additional and/or supplemental terms and conditions in relation to the redemption of the bonds.

The company said it will make further announcements as and when there are any material developments.

Anchor Resources is a mineral explorer for copper, zinc, lead, gold, silver, molybdenum and antimony. It is based in Singapore.

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