Manhattan Scientifics Acquires 43 Million MHTX Common Shares From Lancer Fund Trustee

October 16, 2007

Click here to view the printer friendly version of this press release

 

New York City-- Manhattan Scientifics Inc. (MHTX) announced today that, in a court-approved transaction, it has acquired all 43 million shares and 10 million warrants of MHTX held by the SEC appointed Lancer Funds Trustee. Manhattan Scientifics completed a $1.1 million Private Placement, a portion of which enabled this transaction, thereby removing this overhang from the market.

The company is completing its audit and intends to regain its status as a fully reporting Bulletin Board listed company.

The foregoing press release contains forward-looking statements which are subject to risk and uncertainty which may be beyond the company's control..

About Manhattan Scientifics

Manhattan Scientifics, Inc. (www.mhtx.com) is located in New Mexico, New York and Montreal. It is focused on technology transfer and commercialization of disruptive technologies in the nano medicine space. The company is presently developing commercial medical prosthetics applications for its ultra-fine grain metals and plans to commercialize the cancer research work and nano medical applications developed by Senior Scientific LLC, a unit of the Company.

Forward-looking statement

This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.