Manhattan Corporation (ASX:MHC) Entitlement Offer Update

Manhattan Corporation Limited (ASX:MHC) has issued 1,312,936,518 fully paid ordinary shares (Shortfall Shares) and an additional 92,500,000 fully paid ordinary shares (Additional Placement Shares) at the Entitlement Offer price of $0.001 per share. The Shortfall Shares were issued to raise approximately $1,312,936, while the Additional Placement Shares raised a further $92,500. The New Shares are expected to commence trading on ASX on 9 October 2024.

Executive Commentary

The Company has successfully issued the shortfall shares and additional placement shares to meet the demand from investors. The proceeds from the issue of New Shares will be utilized for drilling, geophysics, soils across all the Company's current projects, as well as towards tenement administration, Entitlement Offer costs, and working capital. The Board retains the right to modify the allocation of funds. Additionally, the Company is proposing to seek shareholder approval for a Conditional Placement and a Consolidation at its upcoming annual general meeting on 27 November 2024.

Summary

Manhattan Corporation Limited (ASX:MHC) has completed the issuance of 1,312,936,518 shortfall shares and 92,500,000 additional placement shares at the Entitlement Offer price of $0.001 per share. The New Shares are set to commence trading on ASX on 9 October 2024. The proceeds from the issuance will be directed towards various projects and operational expenses. The Company also plans to seek shareholder approval for a Conditional Placement and a Consolidation at its annual general meeting in November 2024. The Company emphasizes that the forward-looking statements in the announcement are subject to uncertainties and risks, and it does not guarantee the accuracy or achievement of these statements.