Manhattan Scientifics Announces Retirement of its Current $2.5M Long Term Debt and Proudly States That It Now Has a Virtually Zero-Debt Balance Sheet

NEW YORK--()--Manhattan Scientifics Inc. (OTCQB: MHTX) announced today that equity capital to retire $2.0M of the $2.5M debt was raised by Manhattan Scientifics' subsidiary, Imagion Biosystems. The remaining $500,000 debt, currently guaranteed to the lender by Manhattan Scientifics, is scheduled to convert into Imagion Biosystems equity concurrent with its planned IPO this Spring/Summer.

Details to follow.

About Manhattan Scientifics, Inc.

Manhattan Scientifics Inc. (www.mhtx.com) is located in New Mexico, New York and Montreal. It is focused on technology transfer and commercialization of transformative technologies.

Forward-looking statement

This press release contains forward-looking statements, which 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. Management at Manhattan Scientifics believes that purchase of its shares should be considered to be at the high end of the risk spectrum. 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.

Contacts

Manhattan Scientifics, Inc.
Manny Tsoupanarias, 917-688-4158
Email: manny@mhtx.com
or
Hawk Associates
Frank Hawkins, 305-451-1888
Email: f.hawkins@hawkassociates.com

Contacts

Manhattan Scientifics, Inc.
Manny Tsoupanarias, 917-688-4158
Email: manny@mhtx.com
or
Hawk Associates
Frank Hawkins, 305-451-1888
Email: f.hawkins@hawkassociates.com