StockMarketWire.com - Tower Resources said it had agreed to a payment extension with the majority of lenders regarding a $0.75m bridging facility.

However, the company said it was unable to reach a couple of the lenders on Monday to confirm their agreement.

'The company has no reason to believe they would not agree with the position of the other facility lenders, and will confirm the terms of the extension when they are agreed with all the facility lenders,' Tower Resource said.

The purpose of the extension was to complete other financing discussions, which were currently in progress.

Tower Resources said it continued to 'manage its limited cash resources carefully' as discussions progressed.




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