Manhattan Gold Corporation Limited has received firm commitments to raise up to A$4.5 million before costs through a share placement priced at $0.02 per share. The capital raising was joint lead managed by Euroz Hartleys and Alpine Capital, with Leeuwin Wealth acting as co-manager.

The placement shares will be issued across two tranches. Tranche 1 consists of up to 168 million shares to raise $3.36 million using the company's existing placement capacity under ASX Listing Rules 7.1 and 7.1A, with settlement scheduled for 21 September 2026. Tranche 2 comprises up to 57 million shares to raise $1.14 million, subject to shareholder approval at a General Meeting scheduled for 6 November 2026. Directors and related parties have committed to subscribe for 10 million shares totalling $200,000 under the second tranche.

The issue price of $0.02 represents a 20% discount to the last traded price of $0.025 on 10 September 2026. Joint lead managers will receive a cash fee of 6% on a portion of the proceeds alongside 37.5 million options exercisable at $0.04 with a three-year term, subject to shareholder approval. Following the general meeting, Manhattan also intends to launch a 1-for-4 entitlement issue of unlisted options to eligible shareholders. These options will have a subscription price of $0.001, an exercise price of $0.025, and a six-month term.

Proceeds from the financing will fund the continuation of exploration activities at the Hook Lake Project in Nunavut, Canada. Manhattan holds a 100% mineral interest across 338 square kilometres at the project under a 20-year exploration agreement with Nunavut Tunngavik Incorporated.

The funds will directly support the ongoing 2026 exploration program, which includes completing over 4,000 metres of reverse circulation drilling awarded to contractor Northspan Explorations Ltd. Drilling will target the flagship Jaws prospect as well as untested banded-iron formation targets at Omega. In addition, the program encompasses 14 drillhole assays across the wider project area, project-scale till sampling, channel sampling, and geophysical surveys.

Read the full announcement: Commitments received - $4.5m Placement to Progress Drilling