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$24.22World Cup fever is spreading throughout North America as the knockout round begins, and the best players from around the globe are putting their club organizations on hold to compete for their countries. But soccer—or football, for readers outside the United States—in Europe is big business, and the English Premier League (EPL) doesn’t stop just because the matches are on hold for six weeks.
One of the EPL’s most storied franchises is also publicly traded on the New York Stock Exchange, and it recently made headlines by inking a new stadium deal. Manchester United plc NYSE: MANU is up more than 40% over the last three months, driven by prospects of replacing its historic Old Trafford arena, a potential ownership turnover, and strong earnings in the most recent quarter. But as the traditionally weakest quarter approaches, is it time to sell this rally, or are there more gains ahead?
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The 3 Catalysts Driving MANU Shares to Multi-Year HighsManchester United has been home to some of the sport's greatest players: Bobby Charlton, George Best, Duncan Edwards, and, more recently, Wayne Rooney and Cristiano Ronaldo. But that home will change: the franchise reached a land agreement earlier this month for a new 100,000-seat stadium, purchasing a 25-acre site near its current home, Old Trafford. Old Trafford has been Manchester United’s home stadium since 1910, but the new arena aims to be the largest in the U.K. and part of a larger entertainment center that the team claims could create more than 90,000 jobs.
Two other factors have contributed to the stock’s outperformance this year:
The Glazer family, which owns a 70% stake in the team, has considered selling at least a portion of their share. Malcolm Glazer, who also owned the NFL’s Tampa Bay Buccaneers, passed away in 2014 and left his stake to his six children. But their tenure with Man Utd has been tumultuous, and many supporters (and apparently investors) would cheer a new ownership group.
A strong fiscal Q3 2026 earnings report on May 27 saw the company beat both revenue and earnings-per-share estimates, including a surprise profit of 4 cents per share despite analysts’ expectations for a loss. Operating profit totaled £37.7 million, or about $49.9 million, for the nine months ended March 31, a sharp swing from a £3.2 million ($4.2 million) operating loss in the same period a year earlier. The club also increased its full-year fiscal 2026 revenue guidance to £665 million ($877 million).
Each catalyst has played a part in driving the stock higher, especially the Glazer sale rumors, which caused an 11% pop in a single day. But each of these catalysts is fleeting. The stadium agreement is merely a land deal, and no funding has yet been secured to finance any construction. The new stadium payoff could still be a decade out, and the ownership sale story looks like the typical “buy the rumor, sell the news” event.
Additionally, the earnings success could be on the verge of turning. The fourth quarter has typically been the weakest for Manchester United, as the EPL enters its offseason and no ticket revenue is generated. The EPL has a short offseason compared to American sports, and the season resumes on August 21, a week later than usual due to the World Cup. Manchester United’s Q4 2025 results will likely be released in mid-September or early October, and these offseason headwinds could dampen an already weakened quarter.
Event Driven Rally Getting Stretched, and Technicals Tell the TaleTechnical signals often spot the end of a rally before the fundamentals turn down, and there’s evidence of that situation happening on the MANU chart. The 45% year-to-date (YTD) gain has driven the stock within arm’s length of its 2023 all-time high of $26.84, and a golden cross in early February hinted that a breakout was on the horizon. But technicals giveth and technical taketh, and now the rally is looking overextended.
The share price remains above the 50-day and 200-day moving averages, but it has soared well above these support levels over the last two months amid volatile trading. Excessive volatility is a concern for a stock with a beta of 0.61, and the team has still posted a net loss over the trailing 12 months and trades at 4.65 times sales. Now the moving average convergence divergence (MACD) has formed a bearish crossover, which could be the prelude to the end of this rally.
MANU shares have enjoyed a long-awaited breakout in 2026, but it's becoming stretched and remains dependent on narratives over profits. The new stadium deal is still in its formative stages, and the ownership situation is status quo despite the rumors. Narratives can sustain rallies for long periods, but absent a confirmed transaction, the Q4 2026 earnings print is likely to test it rather than extend it.
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Manchester United Plc (NYSE:MANU)'s acquisition of land for its planned new 100,000-seat stadium represents a significant de-risking milestone for the project, removing what Jefferies described as the main outstanding hurdle around land assembly and improving visibility on the club’s long-term redevelopment plans.
The club said it has secured the majority of land required for the proposed stadium adjacent to Old Trafford through the purchase of a 25-acre site from Indurent, a Blackstone-owned industrial property company.
The site is located about 350 meters northwest of the current ground and forms part of a wider 370-acre regeneration scheme being developed alongside Trafford Council and the Old Trafford Regeneration Mayoral Development Corporation (OTRMDC).
The broader development is expected to include approximately 15,000 new homes, around 48,000 jobs, and more than £7 billion in annual economic impact for the UK economy. Further details on the project, including consultation timing and an updated masterplan, are expected from the OTRMDC on July 9.
Jefferies believes that the land deal removes a key overhang previously identified in the project and clears the path toward design finalization, cost estimation and a more defined construction timeline.
The firm also pointed to continued operational momentum under the INEOS-led transformation, alongside improving financial performance and recent commercial activity.
Manchester United recently reported stronger third-quarter results, raised its fiscal 2026 guidance, and secured qualification for the 2026–27 UEFA Champions League season. The club has also added several commercial partnerships in recent months, including deals with Snapdragon, Coca-Cola, Sokin, Parimatch and Elevate Hospitality, and completed a $550 million refinancing to extend debt maturities.
The proposed stadium would increase capacity to 100,000 seats from roughly 74,000 at Old Trafford, expanding matchday and premium hospitality potential, Jefferies highlighted.
However, it noted that key uncertainties remain around funding structure, total project cost and construction timeline as planning progresses.
Manchester United’s US-listed shares traded down 1.5% at about $22 on Monday afternoon, up about 38% so far this year.
Manchester United Plc (NYSE:MANU)'s acquisition of land for its planned new 100,000-seat stadium represents a significant de-risking milestone for the project, removing what Jefferies described as the main outstanding hurdle around land assembly and improving visibility on the club’s long-term redevelopment plans.
The club said it has secured the majority of land required for the proposed stadium adjacent to Old Trafford through the purchase of a 25-acre site from Indurent, a Blackstone-owned industrial property company.
The site is located about 350 meters northwest of the current ground and forms part of a wider 370-acre regeneration scheme being developed alongside Trafford Council and the Old Trafford Regeneration Mayoral Development Corporation (OTRMDC).
The broader development is expected to include approximately 15,000 new homes, around 48,000 jobs, and more than £7 billion in annual economic impact for the UK economy. Further details on the project, including consultation timing and an updated masterplan, are expected from the OTRMDC on July 9.
Jefferies believes that the land deal removes a key overhang previously identified in the project and clears the path toward design finalization, cost estimation and a more defined construction timeline.
The firm also pointed to continued operational momentum under the INEOS-led transformation, alongside improving financial performance and recent commercial activity.
Manchester United recently reported stronger third-quarter results, raised its fiscal 2026 guidance, and secured qualification for the 2026–27 UEFA Champions League season. The club has also added several commercial partnerships in recent months, including deals with Snapdragon, Coca-Cola, Sokin, Parimatch and Elevate Hospitality, and completed a $550 million refinancing to extend debt maturities.
The proposed stadium would increase capacity to 100,000 seats from roughly 74,000 at Old Trafford, expanding matchday and premium hospitality potential, Jefferies highlighted.
However, it noted that key uncertainties remain around funding structure, total project cost and construction timeline as planning progresses.
Manchester United’s US-listed shares traded down 1.5% at about $22 on Monday afternoon, up about 38% so far this year.
Vancouver, British Columbia--(Newsfile Corp. - June 18, 2026) - Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC: MAUUF) (FSE: J5B0) ("Manhattan" or the "Company") is pleased to announce that effective at the market open on Monday, June 22, its common shares will commence trading on the OTCQB Venture Market (the "OTCQB") in the United States, under the symbol "MAUUF". The Company's common shares will continue to trade on the TSX Venture Exchange (the "TSXV") under the symbol "MANU" and on the Frankfurt Stock Exchange under the symbol "J5B0."
"With the majority of Manhattan Uranium's project portfolio situated in the United States, gaining direct access to U.S. investors through the OTCQB was a clear and immediate priority," said Galen McNamara, Chief Executive Officer of Manhattan. "The OTCQB provides American investors with a familiar and accessible way to participate in our story as we advance our portfolio toward key catalysts. We look forward to continuing to build our U.S. shareholder base as we execute on our near-term objectives."
The OTCQB Venture Market serves as a leading U.S. trading platform for early-stage and developing companies. The listing is expected to strengthen Manhattan Uranium's profile with U.S.-based investors, broaden the Company's shareholder base, and enhance trading liquidity.
Marketing Service Agreements
Manhattan announces that it has entered into an online marketing agreement dated June 18, 2026 (the "i2i Agreement") with i2i Marketing Group, LLC ("i2i"), a digital marketing agency headquartered in Key West, Florida, United States. Pursuant to the i2i Agreement, i2i will provide Manhattan with corporate marketing and investor awareness services, including but not limited to, content creation and management, author sourcing, project management and media distribution.
Manhattan has agreed to pay i2i a creation and media fee of US$250,000 (the "i2i Fee") upon and subject to receipt of TSXV acceptance of the i2i Agreement. The term of the i2i Agreement is six months following TSXV acceptance.
The i2i Fee will be paid by Manhattan to i2i in cash in advance of i2i commencing its services. Manhattan will not issue any securities to i2i as compensation for its services. i2i and its principal, Joseph Grubb, are at arm's length to Manhattan and, to the knowledge of Manhattan, do not beneficially own, directly or indirectly, any securities of Manhattan. i2i is not engaged in market-making activities.
Manhattan announces that it has entered into an investor relations advisory services agreement dated June 18, 2026 (the "Vectis Agreement") with Vectis Capital Inc. ("Vectis"), an investor relations advisory firm headquartered in Windsor, Ontario. Pursuant to the Vectis Agreement, Vectis will provide investor relations advisory services to Manhattan, including, but not limited to, increasing exposure through private trading groups, social media and influencer communities and implementing tagged article awareness strategies.
Manhattan has agreed to pay a fee of US$150,000 (the "Vectis Fee") upon and subject to receipt of TSXV acceptance. The term of the Vectis Agreement is three months following TSXV acceptance.
The Vectis Fee will be paid by Manhattan to Vectis in cash in advance of Vectis commencing its services. Manhattan will not issue any securities to Vectis as compensation for its services. Vectis and its principal, Tyler Troup, are at arm's length to Manhattan and, to the knowledge of Manhattan, do not beneficially own, directly or indirectly, any securities of Manhattan. Vectis is not engaged in market-making activities.
About Manhattan
Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC: MAUUF) (FSE: J5B0) is a newly consolidated North American uranium company committed to the discovery, development, and advancement of high-quality uranium assets. Following the successful acquisitions of Urano Energy and Pegasus Resources, Manhattan now holds a premier portfolio of 15 past-producing uranium mines across 25 underexplored properties covering 25,099 acres in the United States, complemented by high-grade exploration potential in Canada's Athabasca Basin.
Backed by an elite technical and management team with decades of uranium discovery, project advancement, and capital markets experience, Manhattan is strategically positioned to capitalize on the growing demand for domestic uranium and the American nuclear renaissance.
For more information about Manhattan, please visit: www.manhattanuranium.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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X: https://x.com/manhattanurLinkedIn: https://www.linkedin.com/company/manhattanuranium/On behalf of the Board of Directors
Galen McNamara
CEO & Director
1 (604) 288-8046 [email protected]
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). All statements in this release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "may", "will", "expect", "intend", "believe", "anticipate", "estimate", "target", "plan", "potential", "could" or similar terminology. Forward-looking statements in this release include, without limitation the results from work performed to date; the estimation of mineral resources; the realization of mineral resource estimates; the development, operational and economic results of technical reports on mineral properties referenced herein; magnitude or quality of mineral deposits; the anticipated advancement of the Company's mineral properties and project portfolios, including but not limited to proposed drilling and other operational programs and plans referenced herein, including the timing, scope and execution thereof and remaining approvals; exploration expenditures, costs and timing of the development of new deposits; underground exploration potential; costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; exploration prospects of mineral properties; requirements for additional capital; the future price of metals; government regulation of mining operations; current geopolitical developments, including but not limited to U.S. government policy, environmental risks; the timing and possible outcome of pending regulatory matters, including but not limited to the payment of bonds in connection with the proposed programs and plans referenced herein; the realization of the expected economics of mineral properties; future growth potential of mineral properties; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.
Forward-looking statements are based on management's current beliefs, expectations and assumptions, including, without limitation: that historical information is reliable; that future exploration activities will proceed as currently anticipated; that permits, equipment, personnel and contractors will be available on commercially reasonable terms; and that current commodity prices, labour availability, cost and regulatory frameworks will remain consistent with management's expectations. Although management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation: the risk that historical data may prove to be inaccurate or unverifiable; that exploration results may not support further work or drilling; that exploration activities may be delayed, restricted or not carried out as planned; that permits may be delayed or revoked; the absence of adverse conditions at mineral properties; the price of uranium and other metals remaining at levels that render mineral properties economic; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on any mineral resource and reserve estimates; the Company's ability to complete its planned exploration programs; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; fluctuations in exchange rates; the business objectives of the Company; whether economic mineralization can be defined and, if it can be permitted for development; the uncertainty that any mineralization encountered on adjacent properties continues on to any of the Company's properties; the uncertainty that geological and/or geophysical and/or any trends, interpretations, or conclusions related to adjacent properties have relevance to any of the Company's properties; the uncertainty that the exploration season can be extended; changes in project parameters as plans to continue to be refined; the consequences and implications of the historical mining activities on the environment and whether such affects the potential exploration and/or development of any mining operation the Company's properties; the implications of claims from First Nations, Tribes, Tribal Councils or Tribal Governments and land claims settlements on the Company's projects; accidents, labour disputes and other risks of the mining industry, conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; future prices of metals; possible variations of mineral grade or recovery rates; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; title to properties; operational, technical and geological risks inherent in mineral exploration; changes in capital markets, economic conditions, regulatory developments and stakeholder relations; the other risks set out in the Company's public disclosure record under its profile on SEDAR+ (www.sedarplus.ca) and management's ability to anticipate and manage the foregoing risks and uncertainties.
The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302006
Source: Manhattan Uranium Discovery Corp.
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MANCHESTER, England--(BUSINESS WIRE)--Manchester United has secured the majority of the land required to build a new 100,000-seat stadium, marking a major milestone in the long-term vision to transform the Old Trafford area.
The new stadium, which will become the biggest sporting arena in the UK, will serve as a catalyst for the regeneration of the surrounding district, helping to create one of the most dynamic and globally significant sporting and entertainment destinations in the world.
The club acquired the 25-acre site, located approximately 350m north-west of the current stadium, from Indurent, a leading provider of industrial space and a Blackstone portfolio company. United will engage directly with businesses impacted by the plans to support them through the transition period.
The club has also worked in close collaboration with Trafford Council and the Old Trafford Regeneration Mayoral Development Corporation (OTRMDC) to ensure the location of the new stadium works cohesively with the wider Old Trafford regeneration strategy, ensuring optimum connectivity and the best possible experience for fans.
The 370‑acre regeneration project is expected to deliver around 15,000 new homes, including affordable housing, create 48,000 new jobs locally and over 90,000 nationally, and add more than £7 billion a year to the UK economy.
Collette Roche, CEO, Manchester United’s New Stadium Development, said:
“Today’s news highlights the progress we’re making towards a world-class new home for Manchester United and represents a significant milestone as we move into the next phase of development.
“Being able to build so close to Old Trafford allows us to preserve the heritage, traditions and rituals that are so important to our fans. We are committed to building a world-class stadium with our supporters, not just for them, with atmosphere, affordability and accessibility at the heart of our thinking.
“This is a generational opportunity that is fully aligned with both local and national growth ambitions. Securing the right land for our new home has been absolutely critical, and the land we’ve acquired gives us the stage to deliver a truly world-class stadium that honours our past and is ready for our future.”
The OTRMDC will publish its vision for the Old Trafford Regeneration on Thursday 9 July, when further detail of the stadium site and formal consultation period will also be revealed.
Manchester, UK and New York, NY, June 16, 2026 (GLOBE NEWSWIRE) -- Manchester United is continuing its drive to enhance matchdays for supporters ahead of the 2026/27 season by announcing Elevate as their first ever Official Hospitality Partner.
The new partnership expands United’s official hospitality offering, giving fans more variety and special ways to enjoy the match. Through the new partnership, United fans can design a matchday experience that feels uniquely right for them – from premium seats chosen for the best sightlines, to seats that put them as close to the action as possible.
Fans can personally tailor their hospitality experience, with choice between fine dining, a relaxed pub-style atmosphere, an in-venue experience at Old Trafford, or a pre-match restaurant in the city center. Elevate will also unlock a select number of unforgettable fan experiences, including behind-the-scenes stadium tours, on-pitch photos with the first team, and exclusive Q&As with club legends. The result is a more flexible, memorable, and personal way for fans to experience Old Trafford on matchdays.
Beyond the premium matchday offerings, the Elevate partnership will also create opportunities to gift select tickets and experiences with community groups and local charities, helping bring memorable Old Trafford moments to more supporters.
Elevate will be a new strategic partner for the club, bringing best-in-class expertise across sports and entertainment hospitality to help create more choice, more personalized options, and better experiences to United fans.
Marc Armstrong, Chief Business Officer of Manchester United, said:
“We’re delighted to welcome Elevate as our Official Hospitality Partner. With a proven track record of delivering high-quality, premium matchday experiences, Elevate will help us broaden our hospitality offering, providing greater choice for fans who want it alongside our broad range of General Admission options.”
Flavil Hampsten, President of Venue Sales at Elevate, continued:
“At Elevate, our expertise is delivering best-in-class hospitality and creating unforgettable matchday experiences for fans. We are delighted to partner with such a historic club as Manchester United and are excited to help take the club’s hospitality to the next level in a way that respects the club, its supporters, and Old Trafford’s unrivalled matchday atmosphere.”
Fan ticket packages will go on sale on Friday, June 19th following the Premier League fixture release via: hospitality.manutd.com.
See new partnership hospitality packages here.
Download photos here.
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About Elevate
Elevate is a global, integrated agency network committed to helping properties, brands, and universities forge deeper connections with their audiences to unlock growth. Serving more than 1,000 clients across sports, entertainment, consumer products, retail, and more, Elevate transforms followers into devoted fans.
An agency rooted in innovation, Elevate leverages EPIC, its proprietary intelligence platform powered by advanced data and AI technology. EPIC integrates tools for consumer insights, ticketing, property analytics, and more, empowering clients to maximize ROI, enhance fan engagement, and craft campaigns that foster lasting loyalty.
Founded in 2018, Elevate partners with clients worldwide from offices across North America, Europe, and Asia. For more information, visit us at www.oneelevate.com.
About Manchester United
For more information about Manchester United, visit manutd.com/en.
Manchester United Plc's (NYSE:MANU) New York-listed shares are on the buy list at UBS, with the Swiss bank eyeing Champions League qualification. An upgraded target price pitched at US$29.75, suggesting major upside from the current price of $17.77.
Manchester United Ltd. (NYSE:MANU – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.54 and traded as high as $17.84. Manchester United shares last traded at $17.5850, with a volume of 214,128 shares trading hands.
Analyst Upgrades and Downgrades Several brokerages have recently issued reports on MANU. Wall Street Zen cut Manchester United from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Manchester United in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Manchester United has an average rating of “Sell”.
Read Our Latest Stock Analysis on MANU
Manchester United Stock Performance The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -251.18 and a beta of 0.58. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.32 and a quick ratio of 0.30. The firm has a 50 day moving average price of $17.20 and a 200-day moving average price of $16.54.
Manchester United (NYSE:MANU – Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.06). The company had revenue of $255.92 million during the quarter, compared to analyst estimates of $251.72 million. Manchester United had a negative net margin of 1.39% and a negative return on equity of 4.85%. As a group, sell-side analysts expect that Manchester United Ltd. will post -0.74 earnings per share for the current fiscal year.
Institutional Trading of Manchester United Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in Manchester United in the second quarter valued at $29,000. Quarry LP acquired a new stake in Manchester United in the fourth quarter valued at $30,000. Garner Asset Management Corp acquired a new stake in Manchester United in the fourth quarter valued at $97,000. Quantbot Technologies LP raised its stake in Manchester United by 105.3% in the second quarter. Quantbot Technologies LP now owns 6,380 shares of the company’s stock valued at $114,000 after buying an additional 3,273 shares in the last quarter. Finally, Saranac Partners Ltd acquired a new stake in Manchester United in the third quarter valued at $169,000. 23.34% of the stock is currently owned by institutional investors and hedge funds.
About Manchester United (Get Free Report)
Manchester United plc is a global sports and entertainment company best known for its ownership and operation of Manchester United Football Club, one of the most prominent professional football clubs in the world. The company’s core activities include the organization and promotion of competitive football matches, management of club facilities such as Old Trafford stadium, and the development of youth and academy programs. As a publicly traded entity on the New York Stock Exchange (NYSE: MANU), Manchester United plc leverages its status to expand commercial partnerships and broaden its international footprint.
The company’s revenue streams are diversified across matchday operations, broadcast rights, commercial partnerships, and licensing and merchandising.
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Inspirato (NASDAQ:ISPO – Get Free Report) and Manchester United (NYSE:MANU – Get Free Report) are both consumer discretionary companies, but which is the better investment? We will compare the two businesses based on the strength of their earnings, institutional ownership, profitability, analyst recommendations, risk, valuation and dividends.
Institutional and Insider Ownership 39.5% of Inspirato shares are held by institutional investors. Comparatively, 23.3% of Manchester United shares are held by institutional investors. 50.0% of Inspirato shares are held by insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a stock is poised for long-term growth.
Profitability This table compares Inspirato and Manchester United’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Inspirato -4.24% N/A -4.10% Manchester United -1.39% -4.85% -0.56% Risk and Volatility Inspirato has a beta of -0.03, suggesting that its stock price is 103% less volatile than the S&P 500. Comparatively, Manchester United has a beta of 0.58, suggesting that its stock price is 42% less volatile than the S&P 500.
Analyst Ratings This is a summary of current ratings and recommmendations for Inspirato and Manchester United, as reported by MarketBeat.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Inspirato 1 0 0 0 1.00 Manchester United 1 0 0 0 1.00 Valuation and Earnings This table compares Inspirato and Manchester United”s top-line revenue, earnings per share (EPS) and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Inspirato $247.65 million 0.22 -$5.39 million ($0.87) -4.90 Manchester United $862.42 million 3.58 -$42.74 million ($0.07) -255.86 Inspirato has higher earnings, but lower revenue than Manchester United. Manchester United is trading at a lower price-to-earnings ratio than Inspirato, indicating that it is currently the more affordable of the two stocks.
Summary Manchester United beats Inspirato on 6 of the 11 factors compared between the two stocks.
About Inspirato (Get Free Report)
Inspirato Incorporated, together with its subsidiaries, operates as a subscription-based luxury travel company. The company's portfolio includes luxury vacation homes, and accommodations at luxury hotels and resorts, as well as luxury safaris, cruises, custom-designed itineraries, and other experiences. It is involved in solving critical pain points for hospitality suppliers seeking to monetize their property with rental income. In addition, the company offers Inspirato Pass for member to book pass trips; Inspirato Club for members to book trips up to one year in advance Inspirato for Good, a platform designed to help nonprofit organizations accelerate funding results; Inspirato for Business, a business-to-business channel through which subscription and travel products are sold directly to businesses seeking to leverage luxury accommodations to recruit, retain, and reward their employees. The company was founded in 2010 and is headquartered in Denver, Colorado.
About Manchester United (Get Free Report)
Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. It operates Manchester United Football Club, a professional football club. The company develops marketing and sponsorship relationships with international and regional companies to leverage its brand. It also markets and sells sports apparel, training and leisure wear, and other clothing; and other licensed products, such as coffee mugs and bed spreads featuring the Manchester United brand and trademarks, as well as distributes these products through Manchester United branded retail centers and e-commerce platforms, and through the company’s partners’ wholesale distribution channels. In addition, the company distributes live football content directly, as well as through commercial partners; broadcasts television rights relating to the Premier League, Union of European Football Associations club competitions, and other competitions; and delivers Manchester United programming through MUTV television channel to territories worldwide. Further, it operates Old Trafford, a sports venue with 74,240 seats, as well as invests in properties. The company was formerly known as Manchester United Ltd. changed its name to Manchester United plc in August 2012. Manchester United plc was founded in 1878 and is headquartered in Manchester, the United Kingdom.
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Studio City Ih (NYSE:MSC – Get Free Report) and Manchester United (NYSE:MANU – Get Free Report) are both consumer discretionary companies, but which is the better stock? We will compare the two companies based on the strength of their profitability, valuation, analyst recommendations, earnings, institutional ownership, risk and dividends.
Institutional and Insider Ownership 23.3% of Manchester United shares are held by institutional investors. 54.9% of Studio City Ih shares are held by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock is poised for long-term growth.
Profitability This table compares Studio City Ih and Manchester United’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Studio City Ih -8.51% -9.60% -1.99% Manchester United -1.39% -4.85% -0.56% Risk and Volatility Studio City Ih has a beta of 0.07, meaning that its share price is 93% less volatile than the S&P 500. Comparatively, Manchester United has a beta of 0.58, meaning that its share price is 42% less volatile than the S&P 500.
Analyst Ratings This is a summary of current ratings and target prices for Studio City Ih and Manchester United, as reported by MarketBeat.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Studio City Ih 1 0 0 0 1.00 Manchester United 1 0 0 0 1.00 Valuation and Earnings This table compares Studio City Ih and Manchester United”s top-line revenue, earnings per share (EPS) and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Studio City Ih $694.57 million 0.80 -$64.30 million ($0.31) -8.47 Manchester United $862.42 million 3.57 -$42.74 million ($0.07) -255.19 Manchester United has higher revenue and earnings than Studio City Ih. Manchester United is trading at a lower price-to-earnings ratio than Studio City Ih, indicating that it is currently the more affordable of the two stocks.
Summary Manchester United beats Studio City Ih on 9 of the 11 factors compared between the two stocks.
About Studio City Ih (Get Free Report)
Studio City International Holdings Limited operates an entertainment resort in Macau. It operates Studio City Casino, comprising gaming tables, including tables for VIP rolling chip operations and gaming machines; and resort, which offers various non-gaming attractions, including figure-8 ferris wheel, night club and karaoke venue, live performance arena, and an outdoor and indoor water park, as well as hotel rooms and various food and beverage establishments, and retail space. The company was formerly known as Cyber One Agents Limited and changed its name to Studio City International Holdings Limited in January 2012. The company was founded in 2000 and is based in Central, Hong Kong. Studio City International Holdings Limited is a subsidiary of MCO Cotai Investments Limited.
About Manchester United (Get Free Report)
Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. It operates Manchester United Football Club, a professional football club. The company develops marketing and sponsorship relationships with international and regional companies to leverage its brand. It also markets and sells sports apparel, training and leisure wear, and other clothing; and other licensed products, such as coffee mugs and bed spreads featuring the Manchester United brand and trademarks, as well as distributes these products through Manchester United branded retail centers and e-commerce platforms, and through the company’s partners’ wholesale distribution channels. In addition, the company distributes live football content directly, as well as through commercial partners; broadcasts television rights relating to the Premier League, Union of European Football Associations club competitions, and other competitions; and delivers Manchester United programming through MUTV television channel to territories worldwide. Further, it operates Old Trafford, a sports venue with 74,240 seats, as well as invests in properties. The company was formerly known as Manchester United Ltd. changed its name to Manchester United plc in August 2012. Manchester United plc was founded in 1878 and is headquartered in Manchester, the United Kingdom.
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Manchester United has qualified for the Champions League, which will bring in additional revenue. Club valuation has doubled from $3.3 billion in 2016 to now $6.6 billion, according to Forbes. Future revenue growth will come from ticket price increases, continued strong on-the-field performance, and a new stadium.
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2026) - Manhattan Uranium Discovery Corp., formerly "Aero Energy Limited" (TSXV: MANU) (OTC Pink: AAUGF) (FSE: J5B) ("Manhattan") Urano Energy Corp. (CSE: UE) (OTCQB: UECXF) ("Urano") and Pegasus Resources Inc. (TSXV: PEGA) ("Pegasus") are pleased to announce the successful completion of their previously announced business combinations, pursuant to which Manhattan has acquired all of the common shares of each of Urano and Pegasus by way of separate court approved plans of arrangement (the "Urano Arrangement" and the "Pegasus Arrangement", respectively, and together the "Arrangements"). The combined entity (the "Combined Company") shall continue under the name Manhattan Uranium Discovery Corp. and shall trade on the TSX Venture Exchange ("TSX-V") under the ticker symbol "MANU".
Strategic Rationale for the Transactions
Creation of a Leading North American Pure-Play Uranium Platform: Consolidates 15 past-producing uranium mines across 25 underexplored U.S. properties totaling 25,099 acres in the prolific Colorado Plateau region, complemented by high-grade exploration upside in Canada's world-class Athabasca Basin.Elite Uranium Team: Brings together a world-class management, technical, and capital markets team with decades of proven uranium discovery, development, and production success from senior leadership roles at EnCore Energy, NexGen Energy, Alpha Minerals, Union Carbide, and General Atomics.Expanded Historical Resource Base for Accelerated Growth: Consolidates a significant portfolio of historical uranium resources across multiple U.S. projects, positioning the Combined Company to accelerate exploration and development towards production.Positioned for the American Nuclear Renaissance: Features a high-quality portfolio of assets in premier U.S. jurisdictions, positioned to capitalize on surging domestic uranium demand and the growing national focus on energy security, with uranium now officially designated a critical mineral by the United States Geological Survey.Enhanced Capital Markets Profile and Liquidity: Significantly strengthens the Combined Company's market visibility and peer-group standing driving greater investor interest, share momentum, and potential inclusion in uranium-focused indices and ETFs.William Sheriff, Incoming Chairman and Director of Manhattan, stated: "By bringing together complementary teams and assets, the successful closing of the Urano and Pegasus acquisitions creates a significantly stronger platform with greater scale and visibility for Manhattan Uranium Discovery Corp. This combination expands our collective impact - allowing us to align our technical expertise, prioritize the most compelling catalysts, and advance our consolidated portfolio with greater focus and discipline as uranium becomes increasingly strategic to North American energy security."
Galen McNamara, Chief Executive Officer and Director of Manhattan, stated: "With the successful closing of the Urano and Pegasus acquisitions, Manhattan Uranium Discovery Corp. is now one of North America's most compelling pure-play uranium platforms. Our board and management team bring decades of uranium discovery success, project advancement, and public-market execution. That experience is critical as uranium re-emerges as a strategic priority for North American energy security. By consolidating 15 past-producing mines, a strong historical resource base, and high-grade Athabasca Basin potential, we are positioned to build meaningful scale, focus capital on the highest-impact catalysts, and deliver value at this pivotal time for the sector."
Figure 1: Project Locations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/285891_0a4b6900342b7844_001full.jpg
Figure 2: Colorado Plateau Project Locations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/285891_0a4b6900342b7844_002full.jpg
Board of Directors of the Combined Company
The Combined Company's board of directors will be comprised of William Sheriff as Chairman, Galen McNamara, John Hamrick, Grace Marosits, and Garrett Ainsworth.
Securities Issued Under the Arrangements
Urano
Under the terms of the Urano Arrangement, each Urano shareholder received 0.2 Manhattan common shares (the "Manhattan Shares") for each common share of Urano held, representing an aggregate issuance of 40,415,959 Manhattan Shares to each of the former Urano shareholders. Unexercised Urano warrants will now entitle the holder to acquire 0.2 Manhattan Shares for each Urano common share previously provided for at an exercise price adjusted in accordance with such exchange ratio. Unexercised Urano stock options will be exchanged for replacement options to acquire 0.2 Manhattan Shares for each Urano common share previously provided for at an exercise price adjusted in accordance with such exchange ratio. All other terms and conditions of the Urano warrants and Urano stock options will be the same, provided the Manhattan replacement options will be governed by the terms of Manhattan's stock option plan. Based on the outstanding Urano warrants as of the effective time of the Urano Arrangement, an aggregate of approximately 1,487,315 Manhattan Shares are issuable upon the exercise of pre-existing Urano warrants.
Pegasus
Under the terms of the Pegasus Arrangement, each Pegasus shareholder received 0.133 Manhattan common shares for each common share of Pegasus held, representing an aggregate issuance of 5,305,584 common Manhattan Shares to each of the former Pegasus shareholders. Unexercised Pegasus warrants will now entitle the holder to acquire 0.133 Manhattan Shares for each Pegasus common share previously provided for at an exercise price adjusted in accordance with such exchange ratio. Unexercised Pegasus stock options will be exchanged for replacement options to acquire 0.133 Manhattan Shares for each Pegasus common share previously provided for at an exercise price adjusted in accordance with such exchange ratio. All other terms and conditions of the Pegasus warrants and Pegasus stock options will be the same, provided the Manhattan replacement options will be governed by the terms of Manhattan's stock option plan. Based on the outstanding Pegasus warrants as of the effective time of the Pegasus Arrangement, an aggregate of approximately 1,442,020 Manhattan Shares are issuable upon the exercise of pre-existing Pegasus warrants.
Subscription Receipt Financing
Concurrent with the completion of the Urano Arrangement and the satisfaction of the escrow release conditions in connection with Manhattan's previously announced subscription receipt financing (the "Subscription Receipt Financing"), the 26,249,999 subscription receipts issued pursuant thereto automatically converted into units of Manhattan, resulting in the issuance of an aggregate of 26,249,999 common shares of Manhattan, and warrants entitling the holders to acquire an additional 26,249,999 common shares of Manhattan at an exercise price of $0.60 until March 31, 2028.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
Additional Information for Registered Urano and Pegasus Shareholders
Registered shareholders of Urano and Pegasus will receive shares of Manhattan to which they are entitled upon delivery to Computershare Trust Company of Canada ("Computershare") of their respective and/or as applicable a copy of the Direct Registration System advice(s) and completed letters of transmittal together with other required documents. Shareholders are encouraged to contact Computershare at 1-800-564-6253 or [email protected] for further information concerning the exchange process. The vast majority of shareholders of Urano and Pegasus are non-registered shareholders. Non-registered shareholders do not need to deposit share certificates or letters of transmittal. In addition, holders of warrants and options of Urano or Pegasus do not need to tender their certificates representing such securities and their current certificates will now entitle the holder to acquire Manhattan shares on the applicable terms described above.
Each of the Urano Arrangement and the Pegasus Arrangement was completed on an arm's length basis. Further information about the Arrangements is set forth in the materials prepared by Urano and Pegasus in respect of the special meetings of the shareholders of Urano and Pegasus which were mailed to the Urano and Pegasus shareholders and filed under Urano and Pegasus' profiles on SEDAR+ at www.sedarplus.ca.
Urano is expected to be de-listed from the Canadian Securities Exchange on or about May 8, 2026. Pegasus is expected to be de-listed from the TSXV on or about May 11, 2026. Manhattan also intends to submit an application to the applicable securities regulators to have Urano and Pegasus cease to be reporting issuers and terminate their public reporting obligations.
Upon the closing of the Arrangements, Eventus Capital Corp. was issued 250,000 units of Manhattan (the "Advisory Units") as partial consideration for financial advisory services provided to Manhattan, respectively, in connection with the Arrangements. The Advisory Units were issued at a deemed price of $0.40 per unit. Each Advisory Unit is comprised of one Manhattan Share and one Manhattan share purchase warrant with each whole warrant exercisable to acquire one Manhattan Share at an exercise price of $0.60 for a period of 24 months from issuance.
Early Warning Disclosure
Prior to the Arrangements, Manhattan held nil common shares of Urano and Pegasus. Following the completion of the Arrangements, Manhattan holds all of the issued and outstanding shares of Urano and Pegasus. An early warning report will be filed by Manhattan under Urano and Pegasus' respective SEDAR+ profiles at www.sedarplus.ca in accordance with applicable securities laws. A copy of the early warning report in respect of the acquisition of Urano and Pegasus may also be requested from Manhattan by mail at Suite 918, 1030 West Georgia Street, Vancouver, British Columbia V6E 2Y3.
Advisors and Counsel
Eventus Capital Corp. acted as exclusive financial advisor to Manhattan. Forooghian + Company Law Corporation acted as Canadian legal advisor to Manhattan. Morton Law LLP acted as Canadian legal advisor to Urano and Pegasus.
Legal Update
Further to the news release dated March 2, 2026, Manhattan is also pleased to advise that the civil action commenced against Manhattan in the State of Nevada pro-se by William Matlack in connection with historical transactions involving certain mineral claims located in Lander County, Nevada has been fully dismissed without any payment or settlement by Manhattan.
Bridge Loans
Further to the prior news release dated March 2, 2026, the bridge loans of $1,000,000 and $80,000 to Urano and Pegasus, respectively, shall remain in place as secured intercompany loans.
Stock Option Grant
Manhattan also announces that it has granted an aggregate of 6,200,000 incentive stock options (the "Options") to certain directors, officers and consultants of Manhattan pursuant to the Manhattan's stock option plan, which vest over a six month period, with each Option exercisable at a price of $0.40 to acquire one common share of Manhattan until May 7, 2031.
About Manhattan
Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: AAUGF) (FSE: J5B) is a newly formed North American uranium company committed to the discovery, development, and advancement of high-quality uranium assets. Following the successful acquisitions of Urano Energy and Pegasus Resources, Manhattan now holds a premier portfolio of 15 past-producing uranium mines across 25 underexplored properties covering 25,099 acres in the United States, complemented by high-grade exploration potential in Canada's Athabasca Basin.
Backed by an elite technical and management team with decades of uranium discovery, project advancement, and capital markets experience, Manhattan is strategically positioned to capitalize on the growing demand for domestic uranium and the American nuclear renaissance.
For more information about Manhattan, please visit: www.manhattanuranium.com
About Urano
Urano is a mineral exploration company which holds numerous advanced conventional uranium projects hosting historic resources and mining lode claims in the Colorado Plateau, a region with a rich history of uranium and vanadium mining. As the need and support for domestic uranium and nuclear energy in the United States advances, Urano is well positioned to complete the necessary work to advance permitting for key projects.
For more information about Urano, please visit: www.uranoenergy.com.
About Pegasus
Pegasus Resources Inc. is a Canadian uranium exploration company focused on advancing high-potential projects in the United States. Pegasus' flagship asset, the Jupiter Uranium Project in Utah, is a drill-ready property positioned for resource expansion. With a commitment to strengthening domestic uranium supply, Pegasus is strategically developing its portfolio to capitalize on the growing demand for nuclear energy.
For more information about Pegasus, please visit: www.pegasusresourcesinc.com.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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X: https://x.com/manhattanurLinkedIn: https://www.linkedin.com/company/manhattanuranium/Cautionary Statement Regarding Forward-Looking Information
Certain information contained herein may constitute forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable securities legislation, that involve known and unknown risks, assumptions, uncertainties and other factors. Undue reliance should not be placed on any forward-looking statements. Forward-looking statements may be identified by words like "anticipates", "estimates", "expects", "indicates", "forecast", "intends", "may", "believes", "could", "should", "would", "plans", "proposed", "potential", "will", "target", "approximate", "continue", "might", "possible", "predicts", "projects" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release include but are not limited to: statements regarding the combined entity continuing under the name Manhattan Uranium Discovery Corp.; the trading of the common shares of Manhattan on the TSX Venture Exchange under the ticker symbol "MANU"; the anticipated benefits of the Arrangements, including increased scale, visibility, liquidity and access to capital; the Combined Company's ability to advance its portfolio, prioritize exploration and development activities, and accelerate progress toward potential production; expectations regarding uranium market conditions, including growing demand and the role of nuclear energy in North American energy security; the receipt by registered shareholders of Urano and Pegasus of Manhattan common shares upon satisfaction of applicable conditions, including the delivery of required documentation; the termination of any reporting obligations and de-listing of Urano and Pegasus; the issuance of any common shares or warrants of Manhattan, and the entitlement of holders of warrants and options of Urano and Pegasus to acquire Manhattan common shares in accordance with the adjusted terms thereof.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the public health crises; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; and other related risks and uncertainties.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
Manhattan undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296564
Source: Manhattan Uranium Discovery Corp.
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Manchester United plc (NYSE: MANU), announces that it will report results for the third quarter fiscal 2026 period ended 31 March 2026 via press release on 27 May 2026 at 7:00 AM EST.
About Manchester United
Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 148-year football heritage we have won 69 trophies, enabling us to develop what we believe is one of the world’s leading sports and entertainment brands with a global community of 1.1 billion fans and followers, per latest available survey data from 2019. Our large, passionate, and highly engaged fan base provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday initiatives which in turn, directly fund our ability to continuously reinvest in the club.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260513329305/en/
MANCHESTER, England--(BUSINESS WIRE)--Manchester United plc (NYSE: MANU), announces that it will report results for the third quarter fiscal 2026 period ended 31 March 2026 via press release on 27 May 2026 at 7:00 AM EST.
About Manchester United
Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 148-year football heritage we have won 69 trophies, enabling us to develop what we believe is one of the world’s leading sports and entertainment brands with a global community of 1.1 billion fans and followers, per latest available survey data from 2019. Our large, passionate, and highly engaged fan base provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday initiatives which in turn, directly fund our ability to continuously reinvest in the club.
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2026) - Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: MAUUF) (FSE: J5B0) ("Manhattan" or the "Company") is pleased to announce that the U.S. Forest Service has approved the Apex Plan of Operations, authorizing drilling to advance high-priority uranium exploration at the Company's Apex Uranium Project in Lander County, Nevada. This approval clears the way for the construction of up to seven drill pads, a staging area, new temporary road access and limited cross-country travel.
Key Highlights
Drill Permit Secured: U.S. Forest Service has approved the Apex Plan of Operations, delivering a critical regulatory milestone at the Apex Uranium Project in Lander County, Nevada.Up to Seven Drill Pads Now Authorized: This approval green-lights construction of up to seven drill pads, a staging area, new temporary road access, and limited cross-country travel, while still limiting surface disturbance to just 0.93 acres.Advances Nevada's Largest Past-Producing Uranium Mine: Clears the path to test and expand high-grade historical uranium mineralization at the Apex Uranium Project - Nevada's largest past-producing uranium mine - which produced approximately 50% of Nevada's all-time uranium output, including standout historical intercepts of 34.1 metres at 0.37% U₃O₈ and 15.2 metres at 0.51% U₃O₈1,2,3. Minimal Environmental Footprint: The approved program is designed for low-impact exploration within a one-year window from the start of work on National Forest lands, consistent with Manhattan's commitment to responsible development.Strengthens Consolidated U.S. Uranium Platform: Delivers a key regulatory milestone at the Apex Project, enhancing Manhattan's premier North American pure-play uranium platform of 15 past-producing mines on 25 underexplored U.S. properties following the recent acquisitions of Urano Energy Corp. and Pegasus Resources Inc.National Energy Security Priorities: The approval supports recent U.S. Executive Orders aimed at expanding domestic uranium production, strengthening the nuclear fuel supply chain, and advancing energy independence and national security.
Figure 1: Map of the Apex Uranium Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/298364_26f299e714ec4bae_001full.jpg
"Receipt of our Apex Plan of Operations approval from the U.S. Forest Service is a pivotal milestone for Manhattan. Nevada has never seen a modern drill program on its largest historical uranium producer, and we are now positioned to change that. Years in the making, this approval comes at a critical time as domestic uranium supply has become a national priority," stated William Sheriff, Chairman of Manhattan.
"Apex has always stood out in our portfolio, Nevada's largest past-producing uranium mine, with historical intercepts of up to 34.1 metres of 0.37% U₃O₈, and surface sampling returning up to 1.00% U₃O₈ across approximately three kilometres of showings. This Plan of Operations approval clears the path for the first modern drill program in the project's history," stated Galen McNamara, CEO of Manhattan.
The Apex Plan of Operations Approval
The U.S. Forest Service has formally approved the Apex Plan of Operations, authorizing Manhattan to conduct mineral exploration activities on National Forest System lands within the Austin-Tonopah Ranger District of the Humboldt-Toiyabe National Forest in Lander County, Nevada. The approved program includes the construction of up to seven drill pads, a staging area, new temporary road access, and limited cross-country travel. Total surface disturbance associated with the program is limited to just 0.93 acres and is scheduled to occur within a one-year period once surface-disturbing activities commence.
Under U.S. Forest Service regulations (36 CFR 228 Subpart A), a Plan of Operations is the required permitting instrument for mineral exploration projects on National Forest lands that involve surface disturbance beyond casual use. The Apex Plan was originally submitted in September 2022 and underwent multiple rounds of review before receiving final approval on May 18, 2026, following the signing of the Findings and Applicability of No Extraordinary Circumstances (FANEC) on May 14, 2026. This approval represents a significant de-risking milestone for the project, confirming that the proposed low-impact exploration activities are consistent with environmental standards and forest management objectives.
The approval is conditional upon the Company posting the required financial assurance of $18,636 to guarantee reclamation of the disturbed areas. Once the bond is accepted and confirmed by the U.S. Forest Service, Manhattan is expected to receive a letter authorizing the commencement of surface-disturbing work. The Company will continue to work closely with U.S. Forest Service staff on finalizing the bonding process and ensuring full compliance with all federal, state, and local requirements.
Additionally, the Company developed and submitted a comprehensive Uranium Safety Management Plan as a key component of the final Plan of Operations package. This detailed plan establishes site-specific protocols for radiation safety, environmental monitoring, worker protection, and best management practices tailored specifically to uranium exploration activities on National Forest lands. The proactive preparation and submission of the Uranium Safety Management Plan played an important role in demonstrating the Company's commitment to safe, responsible operations and contributed directly to securing final approval from the U.S. Forest Service.
Alignment with U.S. National Energy Security Priorities
This approval aligns directly with President Trump's Executive Order "Reinvigorating the Nuclear Industrial Base," signed on May 23, 2025. The Order directs federal agencies to strengthen America's domestic nuclear fuel supply chain, expand uranium mining and processing capacity, and reduce reliance on foreign sources of uranium in support of national energy security, energy independence, and economic growth. By securing Plan of Operations approval for the Apex Project - historically Nevada's largest past-producing uranium mine - Manhattan is positioned to contribute meaningfully to these national priorities through responsible, low-impact domestic uranium exploration.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Galen McNamara, P.Geo., CEO and Director of Manhattan, who is a Qualified Person as defined by NI 43-101. Mr. McNamara is not independent of the Company.
About Manhattan
Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: MAUUF) (FSE: J5B0) is a newly consolidated North American uranium company committed to the discovery, development, and advancement of high-quality uranium assets. Following the successful acquisitions of Urano Energy and Pegasus Resources, Manhattan now holds a premier portfolio of 15 past-producing uranium mines across 25 underexplored properties covering 25,099 acres in the United States, complemented by high-grade exploration potential in Canada's Athabasca Basin.
Backed by an elite technical and management team with decades of uranium discovery, project advancement, and capital markets experience, Manhattan is strategically positioned to capitalize on the growing demand for domestic uranium and the American nuclear renaissance.
For more information about Manhattan, please visit: www.manhattanuranium.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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X: https://x.com/manhattanurLinkedIn: https://www.linkedin.com/company/manhattanuranium/On behalf of the Board of Directors
Galen McNamara
CEO & Director
1 (604) 288-8046 [email protected]
References
Mathisen, M. Technical Report on the Apex Uranium Mine Project, Lander County, Nevada, USA, Report for NI 43-101. 2022 (the "Technical Report"), 66p. Unless otherwise specified, all scientific and technical information related to the Apex Uranium Project herein is derived from the Technical Report. Such information is subject to all of the assumptions, qualifications and procedures set out in the Technical Report and reference should be made to the full text of the Technical Report, a copy of which is available on www.sedarplus.ca.Nevada Bureau Mines File 38900084, Plan map of underground workings, sampling and drill holes at the Apex mine 1959, by Harry Hughes, Mining GeologistNevada Bureau Mines File 60000269, Report on Mines of Apex Minerals Corporation 1957, by Harry H. Hughes, Mining Geologist. (pg. 4). FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). All statements in this release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "may", "will", "expect", "intend", "believe", "anticipate", "estimate", "target", "plan", "potential", "could" or similar terminology. Forward-looking statements in this release include, without limitation the results from work performed to date; the estimation of mineral resources; the realization of mineral resource estimates; the development, operational and economic results of technical reports on mineral properties referenced herein; magnitude or quality of mineral deposits; the anticipated advancement of the Company's mineral properties and project portfolios, including but not limited to proposed drilling and other operational programs and plans referenced herein, including the timing, scope and execution thereof and remaining approvals; exploration expenditures, costs and timing of the development of new deposits; underground exploration potential; costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; exploration prospects of mineral properties; requirements for additional capital; the future price of metals; government regulation of mining operations; current geopolitical developments, including but not limited to U.S. government policy, environmental risks; the timing and possible outcome of pending regulatory matters, including but not limited to the payment of bonds in connection with the proposed programs and plans referenced herein; the realization of the expected economics of mineral properties; future growth potential of mineral properties; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.
Forward-looking statements are based on management's current beliefs, expectations and assumptions, including, without limitation: that historical information is reliable; that future exploration activities will proceed as currently anticipated; that permits, equipment, personnel and contractors will be available on commercially reasonable terms; and that current commodity prices, labour availability, cost and regulatory frameworks will remain consistent with management's expectations. Although management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation: the risk that historical data may prove to be inaccurate or unverifiable; that exploration results may not support further work or drilling; that exploration activities may be delayed, restricted or not carried out as planned; that permits may be delayed or revoked; the absence of adverse conditions at mineral properties; the price of uranium and other metals remaining at levels that render mineral properties economic; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on any mineral resource and reserve estimates; the Company's ability to complete its planned exploration programs; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; fluctuations in exchange rates; the business objectives of the Company; whether economic mineralization can be defined and, if it can be permitted for development; the uncertainty that any mineralization encountered on adjacent properties continues on to any of the Company's properties; the uncertainty that geological and/or geophysical and/or any trends, interpretations, or conclusions related to adjacent properties have relevance to any of the Company's properties; the uncertainty that the exploration season can be extended; changes in project parameters as plans to continue to be refined; the consequences and implications of the historical mining activities on the environment and whether such affects the potential exploration and/or development of any mining operation the Company's properties; the implications of claims from First Nations, Tribes, Tribal Councils or Tribal Governments and land claims settlements on the Company's projects; accidents, labour disputes and other risks of the mining industry, conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; future prices of metals; possible variations of mineral grade or recovery rates; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; title to properties; operational, technical and geological risks inherent in mineral exploration; changes in capital markets, economic conditions, regulatory developments and stakeholder relations; the other risks set out in the Company's public disclosure record under its profile on SEDAR+ (www.sedarplus.ca) and management's ability to anticipate and manage the foregoing risks and uncertainties.
The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298364
Source: Manhattan Uranium Discovery Corp.
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MANCHESTER, England--(BUSINESS WIRE)--Manchester United is delighted to announce that Michael Carrick will continue as Head Coach of the men’s first-team, having signed a new contract which will run to 2028.
Carrick returned to United as Head Coach in January and was awarded the Premier League Manager of the Month award after victories against Manchester City and Arsenal in his first two games in charge. He has overseen qualification into next season’s UEFA Champions League with 11 wins from 16 games, accumulating the highest points tally in the Premier League since his arrival.
One of United’s most successful and decorated players, Carrick played 464 games for the club, winning five Premier League titles, the FA Cup, two League Cups, the UEFA Champions League, the UEFA Europa League and the FIFA Club World Cup.
Michael Carrick, head coach, said: “From the moment that I arrived here 20 years ago, I felt the magic of Manchester United.
“Carrying the responsibility of leading our special football club fills me with immense pride.
“Throughout the past five months this group of players have shown they can reach the standards of resilience, togetherness and determination that we demand here.
“Now it’s time to move forward together, with ambition and a clear sense of purpose. Manchester United and our incredible supporters deserve to be challenging for the biggest honours again.”
Jason Wilcox, Manchester United Director of Football, said: “Michael has thoroughly earned the opportunity to continue leading our men’s team. In the time he has been doing the role, we have seen positive results on the pitch, but more than that, an approach which aligns with the club’s values, traditions and history.
“Michael’s achievements in leading the club back to the Champions League should not be understated. He has forged a strong bond with the players and can be proud of the winning culture at Carrington and in the dressing room, which we are continuing to build.”
ABOUT MANCHESTER UNITED
Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 146-year heritage we have won 69 major trophies, enabling us to develop the world’s leading sports brand and a global community of 1.1 billion fans and followers. Our large, passionate community provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, new media & mobile, broadcasting and match day.
MANCHESTER, England--(BUSINESS WIRE)--Manchester United (NYSE: MANU; the “Company,” the “Group” and the “Club”) today announced financial results for the 2026 fiscal third quarter ended 31 March 2026.
Management Commentary
Omar Berrada, Chief Executive Officer, commented, “We feel very positive about the club’s progress this season and the continuing positive impact of our business transformation initiatives. Finishing third in the Premier League and securing qualification to next season’s UEFA Champions League is testament to our men’s team’s improved form on the pitch. Michael Carrick has done an excellent job in the 17 games he has overseen and we are delighted that he will continue as Head Coach.
Our women’s team reached the quarter final in the UEFA Women’s Champions League and also reached the final of the League Cup for the first time and will be participating once again in the World Sevens Series. On the academy side, reaching the FA Youth Cup and PL2 play-off finals is also an indication of our continued commitment to youth development.”
Outlook
For fiscal 2026, the Company increases its revenue guidance to £655 million to £665 million. The Company also raises its Adjusted EBITDA guidance to between £200 million and £210 million. The club remains committed to, and in compliance with, both the Premier League’s Profit and Sustainability Rules and UEFA’s Financial Fair Play Regulations.
Phasing of Premier League games
Quarter 1
Quarter 2
Quarter 3
Quarter 4
Total
2025/26 season
6
13
12
7
38
2024/25 season
6
13
10
9
38
2023/24 season
7
13
9
9
38
Key Financials (unaudited)
£ million (except loss per share)
Three months ended
31 March
Nine months ended
31 March
2026
2025
Change
2026
2025
Change
Commercial revenue
82.4
74.7
10.3%
245.1
245.1
-
Broadcasting revenue
64.9
41.3
57.1%
157.1
134.2
17.1%
Matchday revenue
42.2
44.5
(5.2%)
117.9
123.0
(4.1%)
Total revenue
189.5
160.5
18.1%
520.1
502.3
3.5%
Adjusted EBITDA(1)
84.7
51.2
65.4%
187.5
145.3
29.0%
Operating profit/(loss)
5.1
0.7
628.6%
37.7
(3.2)
-
Loss for the period (i.e. net loss)
(11.8)
(2.7)
(337.0%)
(14.3)
(29.1)
50.9%
Basic loss per share (pence)
(6.83)
(1.57)
(335.0%)
(8.25)
(17.09)
51.7%
Adjusted profit/(loss) for the period (i.e. adjusted net profit/(loss))(1)
5.1
(5.5)
-
6.6
(12.1)
-
Adjusted basic earnings/(loss) per share (pence)(1)
2.95
(3.19)
-
3.85
(7.07)
-
Non-current borrowings in USD (contractual currency)(2)
$650.0
$650.0
0.0%
$650.0
$650.0
0.0%
(1) Adjusted EBITDA, adjusted loss for the period and adjusted basic loss per share are non-IFRS measures. See “Non-IFRS Measures: Definitions and Use” on page 6 and the accompanying Supplemental Notes for the definitions and reconciliations for these non-IFRS measures and the reasons we believe these measures provide useful information to investors regarding the Group’s financial condition and results of operations.
(2) In addition to non-current borrowings, the Group maintains a revolving credit facility which varies based on seasonal flow of funds. The outstanding balance of the revolving credit facility as of 31 March 2026 was £260.0 million and total current borrowings including accrued interest payable was £262.5 million.
Revenue Analysis
Commercial
Commercial revenue for the quarter was £82.4 million, an increase of £7.7 million, or 10.3%, over the prior year quarter.
Sponsorship revenue was £38.5 million, a decrease of £4.0 million, or 9.4%, over the prior year quarter, primarily due to the Club’s training kit sponsorship agreement with Tezos in the prior year, which ended before the start of the 2025/26 season, partially offset by other changes in our commercial partner mix. Retail, Merchandising, Apparel & Product Licensing revenue was £43.9 million, an increase of £11.7 million, or 36.3%, over the prior year quarter, due to stronger trading related to improved on pitch performance, combined with a one-off credit relating to amended terms of our in-house e-commerce business launched in the prior year. Broadcasting
Broadcasting revenue for the quarter was £64.9 million, an increase of £23.6 million, or 57.1%, over the prior year quarter, primarily due to the men’s first team estimating a higher Premier League finishing position for the 2025/26 season versus the 2024/25 season, combined with an increased value of the Premier League’s latest international broadcasting rights cycle.
Matchday
Matchday revenue for the quarter was £42.2 million, a decrease of £2.3 million, or 5.2%, over the prior year quarter, due to playing 3 fewer home matches compared to the prior year quarter, partially offset by improved performance of our Matchday revenue sector on a per game basis.
Other Financial Information
Operating expenses
Total operating expenses for the quarter were £179.1 million, an increase of £17.0 million, or 10.5%, over the prior year quarter.
Employee benefit expenses
Employee benefit expenses for the quarter were £70.8 million, a decrease of £0.4 million, or 0.6%, over the prior year quarter. The club continues to see the financial benefits of headcount reduction programs implemented during the prior year.
Other operating expenses
Other operating expenses for the quarter were £34.0 million, a decrease of £4.1 million, or 10.8%, over the prior year quarter. This is primarily due to decreased matchday costs associated with playing 3 fewer home matches in the quarter.
Depreciation and amortization
Depreciation for the quarter was £5.3 million, compared to £4.2 million in the prior year quarter. Amortization for the quarter was £52.4 million, an increase of £6.5 million, or 14.2%, over the prior year quarter, due to investment in the first team playing squad. The unamortized balance of registrations on 31 March 2026 was £520.8 million.
Exceptional items
Exceptional items for the quarter were a cost of £16.7 million, primarily as a result of costs associated with the exit of former men’s first team head coach Ruben Amorim, along with certain members of his coaching team. Exceptional items for the prior year quarter were a cost of £2.7 million, as result of compensation for loss of office costs incurred in relation to the restructuring of the club’s operations.
(Loss)/profit on disposal of intangible assets
Loss on disposal of intangible assets for the quarter was £5.2 million, primarily due to the write off of costs capitalised in respect of Ruben Amorim and certain members of his coaching team, compared to a profit of £2.3 million for the prior year quarter.
Net finance costs
Net finance costs for the quarter were £20.3 million, compared to £3.8 million in the prior year quarter. The movement was driven by an unfavourable swing in foreign exchange rates in the current quarter resulting in a £10.3 million unrealized foreign exchange loss on unhedged USD borrowings. This compares to a favourable swing in foreign exchange rates resulting in a £7.3 million unrealized foreign exchange gain on unhedged USD borrowings in the prior year quarter.
Income tax
The income tax credit for the quarter was £3.4 million, compared to a credit of £0.4 million in the prior year quarter.
Cash flows
Overall cash and cash equivalents (including the effects of exchange rate movements) increased by £16.5 million in the quarter to 31 March 2026, compared to a decrease of £22.5 million in the prior year quarter.
Net cash inflow from operating activities for the quarter was £27.3 million, compared to a net cash inflow in the prior year quarter of £22.3 million.
Net capital expenditure on property, plant and equipment for the quarter was £0.7 million, a decrease of £16.2 million over the prior year quarter, due to the significant improvements to our Carrington training facility that took place in the prior year.
Net cash inflow in relation to intangible assets for the quarter was £21.4 million, compared to net capital expenditure of £31.3 million in the prior year quarter. The current year quarter includes the impact of proceeds raised from the sale of future dated transfer fee receivables due from other football clubs.
Net cash outflow from financing activities for the quarter was £30.5 million, compared to a net cash outflow of £0.1 million in the prior year quarter. The current year quarter movement is mostly driven by a £30.0 million net repayment on our revolving credit facility.
Balance sheet
Our USD non-current borrowings as of 31 March 2026 were $650 million, which was unchanged from 31 March 2025. As a result of the year-on-year change in the USD/GBP exchange rate from 1.2913 at 31 March 2025 to 1.3216 at 31 March 2026, our non-current borrowings when converted to GBP were £490.1 million, compared to £500.9 million at the prior year quarter.
In addition to non-current borrowings, the Group maintains a revolving credit facility which varies based on seasonal flow of funds. Current borrowings at 31 March 2026 were £262.5 million compared to £212.3 million at 31 March 2025.
As of 31 March 2026, cash and cash equivalents were £60.9 million compared to £73.2 million at the prior year quarter. This movement is detailed further in the Statement of Cash Flows on page 11 of this release.
About Manchester United
Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 148-year football heritage we have won 69 trophies, enabling us to develop what we believe is one of the world’s leading sports and entertainment brands with a global community of 1.1 billion fans and followers, per latest available survey data from 2019. Our large, passionate, and highly engaged fan base provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday initiatives which in turn, directly fund our ability to continuously reinvest in the club.
Cautionary Statements
This press release contains forward-looking statements. You should not place undue reliance on such statements because they are subject to numerous risks and uncertainties relating to the Company’s operations and business environment, all of which are difficult to predict and many are beyond the Company’s control. These statements often include words such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or similar expressions. The forward-looking statements contained in this press release are based on our current expectations and estimates of future events and trends, which affect or may affect our businesses and operations. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual financial results or results of operations and could cause actual results to differ materially from those in these forward-looking statements. These factors are more fully discussed in the “Risk Factors” section and elsewhere in the Company’s Registration Statement on Form F-1, as amended (File No. 333-182535) and the Company’s Annual Report on Form 20-F (File No. 001-35627) as supplemented by the risk factors contained in the Company’s other filings with the Securities and Exchange Commission.
Non-IFRS Measures: Definitions and Use
1. Adjusted EBITDA
Adjusted EBITDA is defined as loss for the period before depreciation, amortization, exceptional items, profit on disposal of intangible assets, net finance costs and tax.
Adjusted EBITDA is useful as a measure of comparative operating performance from period to period and among companies as it is reflective of changes in pricing decisions, cost controls and other factors that affect operating performance, and it removes the effect of our asset base (primarily depreciation and amortization), material volatile items (primarily profit on disposal of intangible assets and exceptional items), capital structure (primarily finance costs), and items outside the control of our management (primarily taxes). Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for an analysis of our results as reported under IFRS as issued by the IASB. A reconciliation of loss for the period to adjusted EBITDA is presented in supplemental note 2.
2. Adjusted profit/(loss) for the period (i.e. adjusted net profit/(loss))
Adjusted profit/(loss) for the period is calculated, where appropriate, by adjusting for charges/credits related to exceptional items, foreign exchange gains/losses on unhedged US dollar denominated borrowings (including foreign exchange losses immediately reclassified from the hedging reserve following change in contract currency denomination of future revenues), and fair value movements on embedded foreign exchange derivatives and foreign currency options, adding/subtracting the actual tax expense/credit for the period, and subtracting/adding the adjusted tax expense/credit for the period (based on an normalized tax rate of 25%). The normalized tax rate of 25% is the current UK corporation tax rate. A reconciliation of loss for the period to adjusted profit/(loss) for the period is presented in supplemental note 3.
3. Adjusted basic and diluted earnings/(loss) per share
Adjusted basic and diluted earnings/(loss) per share are calculated by dividing the adjusted profit/(loss) for the period by the weighted average number of ordinary shares in issue during the period. Adjusted diluted earnings/(loss) per share is calculated by adjusting the weighted average number of ordinary shares in issue during the period to assume conversion of all dilutive potential ordinary shares. There is one category of dilutive potential ordinary shares: share awards pursuant to the 2012 Equity Incentive Plan (the “Equity Plan”). Share awards pursuant to the Equity Plan are assumed to have been converted into ordinary shares at the beginning of the financial year. Adjusted basic and diluted earnings/(loss) per share are presented in supplemental note 3.
Key Performance Indicators
Three months ended
Nine months ended
31 March
31 March
2026
2025
2026
2025
Revenue
Commercial % of total revenue
43.4%
46.6%
47.1%
48.8%
Broadcasting % of total revenue
34.3%
25.7%
30.2%
26.7%
Matchday % of total revenue
22.3%
27.7%
22.7%
24.5%
2025/26
Season
2024/25
Season
2025/26
Season
2024/25
Season
Home Matches Played
PL
5
5
15
15
UEFA competitions
-
2
-
5
Domestic Cups
1
2
1
4
Away Matches Played
PL
7
5
16
14
UEFA competitions
-
2
-
5
Domestic Cups
-
1
1
2
Other
Employee benefit expenses % of revenue
37.4%
44.4%
42.2%
46.6%
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
(unaudited; in £ thousands, except per share and shares outstanding data)
Three months ended
31 March
Nine months ended
31 March
2026
2025
2026
2025
Revenue from contracts with customers
189,497
160,564
520,149
502,329
Operating expenses
(179,190
)
(162,128
)
(525,508
)
(544,206
)
(Loss)/profit on disposal of intangible assets
(5,201
)
2,271
43,019
38,662
Operating profit/(loss)
5,106
707
37,660
(3,215
)
Finance costs
(26,758
)
(13,783
)
(63,309
)
(44,749
)
Finance income
6,439
10,019
7,609
12,018
Net finance costs
(20,319
)
(3,764
)
(55,700
)
(32,731
)
Loss before income tax
(15,213
)
(3,057
)
(18,040
)
(35,946
)
Income tax credit
3,436
347
3,806
6,820
Loss for the period
(11,777
)
(2,710
)
(14,234
)
(29,126
)
Basic loss per share:
Basic loss per share (pence)
(6.83
)
(1.57
)
(8.25
)
(17.09
)
Weighted average number of ordinary shares used as the denominator in calculating basic loss per share (thousands)
172,434
172,353
172,433
170,459
Diluted loss per share:
Diluted loss per share (pence) (1)
(6.83
)
(1.57
)
(8.25
)
(17.09
)
Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating diluted loss per share (thousands) (1)
172,434
172,353
172,433
170,459
(1) For the three and nine months ended 31 March 2026 and the three and nine months ended 31 March 2025, potential ordinary shares are anti-dilutive, as their inclusion in the diluted loss per share calculation would reduce the loss per share, and hence have been excluded.
CONSOLIDATED BALANCE SHEET
(unaudited; in £ thousands)
As of
31 March
2026
30 June
2025
31 March
2025
ASSETS
Non-current assets
Property, plant and equipment
296,289
292,334
280,008
Right-of-use assets
3,043
7,145
7,394
Investment properties
19,224
19,433
19,503
Intangible assets
949,358
966,457
942,507
Deferred tax assets
29,472
24,927
25,336
Trade receivables
20,476
43,419
47,679
Derivative financial instruments
57
-
191
1,317,919
1,353,715
1,322,618
Current assets
Inventories
13,687
13,053
12,003
Prepayments
18,401
17,438
19,460
Contract assets – accrued revenue
77,431
19,528
40,882
Trade receivables
100,666
133,728
123,122
Other receivables
1,309
13,694
1,696
Derivative financial instruments
110
472
21
Cash and cash equivalents
60,935
86,105
73,211
272,539
284,018
270,395
Total assets
1,590,458
1,637,733
1,593,013
CONSOLIDATED BALANCE SHEET (continued)
(unaudited; in £ thousands)
As of
31 March
2026
30 June
2025
31 March
2025
EQUITY AND LIABILITIES
Equity
Share capital
56
56
56
Share premium
307,345
307,345
307,345
Treasury shares
(21,305
)
(21,305
)
(21,305
)
Merger reserve
249,030
249,030
249,030
Hedging reserve
(628
)
223
(550
)
Accumulated losses
(355,093
)
(341,616
)
(337,161
)
179,405
193,733
197,415
Non-current liabilities
Contract liabilities - deferred revenue
12,566
5,915
6,234
Trade and other payables
171,140
205,359
181,866
Borrowings
490,140
471,855
500,883
Lease liabilities
2,859
7,899
7,752
Derivative financial instruments
660
2,599
3,272
677,365
693,627
700,007
Current liabilities
Contract liabilities - deferred revenue
142,586
205,490
171,472
Trade and other payables
310,983
359,246
298,435
Income tax liabilities
651
566
1,022
Borrowings
262,458
165,119
212,318
Lease liabilities
485
572
836
Derivative financial instruments
2,476
3,403
4,333
Provisions
14,049
15,977
7,175
733,688
750,373
695,591
Total equity and liabilities
1,590,458
1,637,733
1,593,013
CONSOLIDATED STATEMENT OF CASH FLOWS
(unaudited; in £ thousands)
Three months ended
31 March
Nine months ended
31 March
2026
2025
2026
2025
Cash flows from operating activities
Cash generated from operations (see supplemental Note 4)
38,403
34,767
42,719
2,168
Interest paid
(11,375
)
(12,952
)
(29,201
)
(31,723
)
Interest received
413
667
1,490
2,423
Tax paid
(72
)
(165
)
(370
)
(464
)
Net cash inflow/(outflow) from operating activities
27,369
22,317
14,638
(27,596
)
Cash flows from investing activities
Payments for property, plant and equipment
(808
)
(16,856
)
(19,538
)
(34,091
)
Payments for intangible assets
(41,672
)
(36,063
)
(257,870
)
(239,720
)
Proceeds from sale of intangible assets
63,176
4,803
143,642
44,141
Net cash inflow/(outflow) from investing activities
20,696
(48,116
)
(133,766
)
(229,670
)
Cash flows from financing activities
Proceeds from issue of shares
-
-
-
79,985
Proceeds from borrowings
60,000
30,000
225,000
230,000
Repayment of borrowings
(90,000
)
(30,000
)
(125,000
)
(50,000
)
Debt finance costs paid
(353
)
-
(2,455
)
-
Principal elements of lease payments
(81
)
(102
)
(1,609
)
(293
)
Net cash (outflow)/inflow from financing activities
(30,434
)
(102
)
95,936
259,692
Effects of exchange rate movements on cash and cash equivalents
(1,102
)
3,570
(1,978
)
(2,764
)
Net increase/(decrease) in cash and cash equivalents
16,529
(22,331
)
(25,170
)
(338
)
Cash and cash equivalents at beginning of period
44,406
95,542
86,105
73,549
Cash and cash equivalents at end of period
60,935
73,211
60,935
73,211
SUPPLEMENTAL NOTES
1 General information
Manchester United plc (the “Company”) and its subsidiaries (together the “Group”) is a men’s and women’s professional football club together with related and ancillary activities. The Company incorporated under the Companies Law (as amended) of the Cayman Islands.
2 Reconciliation of loss for the period to adjusted EBITDA
Three months ended
31 March
Nine months ended
31 March
2026
£’000
2025
£’000
2026
£’000
2025
£’000
Loss for the period
(11,777
)
(2,710
)
(14,234
)
(29,126
)
Adjustments:
Income tax credit
(3,436
)
(347
)
(3,806
)
(6,820
)
Net finance costs
20,319
3,764
55,700
32,731
Loss/(profit) on disposal of intangible assets
5,201
(2,271
)
(43,019
)
(38,662
)
Exceptional items
16,686
2,658
16,686
25,833
Amortization
52,352
45,867
161,104
148,560
Depreciation
5,309
4,254
15,115
12,803
Adjusted EBITDA
84,654
51,215
187,546
145,319
3 Reconciliation of loss for the period to adjusted profit/(loss) for the period and adjusted basic and diluted earnings/(loss) per share
Three months ended
31 March
Nine months ended
31 March
2026
£’000
2025
£’000
2026
£’000
2025
£’000
Loss for the period
(11,777
)
(2,710
)
(14,234
)
(29,126
)
Adjustments:
Exceptional items
16,686
2,658
16,686
25,833
Foreign exchange losses/(gains) on unhedged US dollar denominated borrowings
5,343
(7,285
)
10,258
(8,033
)
Fair value movement on embedded foreign exchange derivatives
(43
)
348
(51
)
2,079
Income tax credit
(3,436
)
(347
)
(3,806
)
(6,820
)
Adjusted profit/(loss) before income tax
6,773
(7,336
)
8,853
(16,067
)
Adjusted income tax credit (using a normalized tax rate of 25%)
(1,693
)
1,834
(2,213
)
4,017
Adjusted profit/(loss) for the period (i.e. adjusted net profit/(loss))
5,080
(5,502
)
6,640
(12,050
)
Adjusted basic earnings/(loss) per share:
Adjusted earnings/(loss) per share (pence)
2.95
(3.19
)
3.85
(7.07
)
Weighted average number of ordinary shares used as the denominator in calculating adjusted basic earnings/(loss) per share (thousands)
172,434
172,353
172,433
170,459
Adjusted diluted earnings/(loss) per share:
Adjusted diluted earnings/(loss) per share (pence) (1)
2.94
(3.19
)
3.85
(7.07
)
Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating adjusted diluted earnings/(loss) per share (thousands) (1)
172,658
172,353
172,658
170,459
(1) For the three and nine months ended 31 March 2026 and the three and nine months ended 31 March 2025, potential ordinary shares are anti-dilutive, as their inclusion in the adjusted diluted loss per share calculation would reduce the loss per share, and hence have been excluded.
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2026) - Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: MAUUF) (FSE: J5B0) ("Manhattan") and Fortune Bay Corp. (TSXV: FOR) (FSE: 5QN) (OTCQB: FTBYF) ("Fortune Bay") are pleased to announce that priority drill targets have been selected for the upcoming exploration program at the Murmac and Strike Uranium Projects ("Murmac" and "Strike", and collectively, the "Murmac and Strike Projects" or the "Projects"), located near Uranium City in northern Saskatchewan.
The upcoming program is expected to consist of approximately 5,000 metres of drilling to test up to 25 priority targets across the Projects. The targets include both follow-up opportunities near previous uranium results and first-pass tests of newly defined targets along more than 60 kilometres of prospective electromagnetic conductor packages on the northern margin of the Athabasca Basin.
The program is being funded by Manhattan pursuant to an option agreement (see Fortune Bay's press release dated December 18, 2023 and Manhattan's press release dated December 11, 2025), with Fortune Bay acting as operator.
Program Highlights
Large-scale drill program planned: Approximately 5,000 metres of drilling is planned to test up to 25 priority targets across Murmac and Strike.
Multiple discovery opportunities: The program is designed to test a broad pipeline of targets across multiple conductive corridors, providing exposure to several potential discovery areas in a single campaign.
Targets selected using multiple discovery criteria: Targets were selected based on integrated geological, geophysical and geochemical datasets, with an emphasis on areas where favourable structure, graphitic host rocks, uranium anomalism and alteration coincide.
Extensive prospective conductor packages: Murmac and Strike collectively host approximately 63 kilometres of prospective electromagnetic conductor packages, providing a large target inventory for basement-hosted uranium exploration.
Murmac high-grade uranium results: Previous drilling at Murmac returned 8.40 metres grading 0.30% U₃O₈, including 1.20 metres grading 1.79% U₃O₈, with individual assays up to 13.80% U₃O₈ over 0.10 metres in drill hole M24-0171.
Strike high-grade uranium results: At Strike, Fortune Bay's maiden drill program intersected anomalous uranium in three of nine shallow drill holes, including a maximum individual assay of 0.43% U₃O₈. Historical small-scale production from the Tena Zone reportedly included grades of 0.6% to 3.5% U₃O₈, and confirmatory surface rock sampling returned assays including 3.51% U₃O₈ and 1.75% U₃O₈2.
Drilling expected shortly: Mobilization is being planned, with drilling expected to commence in June 2026.
"The global energy landscape is undergoing a fundamental shift, and uranium sits at the centre of it," said William Sheriff, Chairman of Manhattan. "The Athabasca Basin remains one of the world's premier uranium regions, and having built and sold one of the largest domestic uranium resource bases in U.S. history, I know firsthand how exploration success in the right geological setting can create significant value."
"The Murmac and Strike drill program represents a significant catalyst for Manhattan Uranium," said Galen McNamara, CEO of Manhattan. "The Athabasca Basin has a well-established track record of delivering world-class uranium discoveries, and we believe our projects share the key geological characteristics that have defined the Basin's most significant finds. With a fully funded 25-hole program set to commence in June, we look forward to reporting results as drilling advances."
Murmac and Strike Projects Overview
The Murmac and Strike Projects comprise mineral claims totalling approximately 19,877 hectares within 25 kilometres of Uranium City, Saskatchewan, on the northern margin of the Athabasca Basin. The Projects benefit from established infrastructure, including existing roads, an active hydro-powerline, nearby facilities, and an airport at Uranium City.
The Projects are prospective for high-grade, basement-hosted uranium deposits associated with graphitic electromagnetic conductor corridors, structural reactivation, alteration and uranium-bearing mineralizing systems. Murmac and Strike collectively host approximately 63 kilometres of prospective electromagnetic conductor packages, which were not systematically targeted or drill tested during historical exploration efforts.
Exploration completed by Manhattan and Fortune Bay has included compilation of historical exploration data, modern airborne electromagnetic and magnetic surveying, ground gravity surveying, prospecting, radon-in-water surveying, and diamond drilling. This work has confirmed favourable host rocks, prospective structures, uranium mineralization, and multiple target areas warranting follow-up drilling.
The upcoming program is designed to systematically test priority targets where multiple exploration criteria coincide, including favourable graphitic conductors, interpreted structures, uranium mineralization or anomalism, alteration, and supportive historical exploration results.
Figure 1: Location of the Murmac and Strike Uranium Projects.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/300086_14da9f3034924817_001full.jpg
Murmac Previous Exploration Highlights
At Murmac, previous drilling has confirmed shallow uranium mineralization associated with structured graphitic rocks, the typical host rocks for basement-hosted high-grade Athabasca Basin uranium deposits.
Drill hole M24-017, completed at Howland Lake North, intersected 8.40 metres grading 0.30% U₃O₈, including 1.20 metres grading 1.79% U₃O₈, with individual assays up to 13.80% U₃O₈ over 0.10 metres and 4.54% U₃O₈ over 0.10 metres. This high-grade mineralization was intersected at approximately 64 metres below surface within favourable structured graphitic rocks. Drilling at Murmac has intersected elevated uranium (> 100 ppm) associated with graphitic rocks and hydrothermal alteration in 12 of 31 previous holes across the entire length of the targeted conductors, indicating the presence of a large-scale uranium mineralizing system1.
Figure 2: Murmac previous results and drill targets.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/300086_14da9f3034924817_002full.jpg
Strike Previous Exploration Highlights
At Strike, previous exploration has confirmed uranium potential at surface, in historical workings and through drilling.
Historical small-scale mining at the Tena Zone reportedly produced over 1,000 tons in the 1950s at grades of 0.6% to 3.5% U₃O₈. Confirmatory surface sampling by Fortune Bay returned high-grade uranium assays, including 3.51% U₃O₈ and 1.75% U₃O₈, confirming the presence of high-grade uranium mineralization at surface2.
Fortune Bay's maiden drill program at Strike also confirmed basement-hosted uranium mineralization. Analytical results confirmed anomalous uranium in three of nine shallow drill holes, including a maximum individual assay of 0.43% U₃O₈. Uranium mineralization was associated with enriched pathfinder elements commonly associated with high-grade, unconformity-related uranium deposits in the Athabasca Basin2.
The upcoming program will follow up near previous Strike results and test additional priority targets along prospective conductor corridors and structural trends.
Figure 3: Strike previous results and drill targets.
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https://images.newsfilecorp.com/files/8126/300086_14da9f3034924817_003full.jpg
Option Agreement
The Projects are subject to an option agreement dated December 15, 2023, as amended on November 13, 2025, under which Manhattan has the right to acquire up to a 70% interest in Murmac and Strike by funding an aggregate of C$6 million in exploration expenditures, making cash payments of an aggregate of C$1.35 million, and issuing an aggregate of C$2.15 million in common shares. Fortune Bay is the operator during the option period and is entitled to charge a 10% management fee on exploration expenditures.
Technical Disclosure
Drill results refer to drill core and surface grab samples submitted to the Saskatchewan Research Council ("SRC") Geoanalytical Laboratories (ISO/IEC 17025:2005 accredited) for uranium assay and multi-element characterization. Sample preparation for all samples included drying, jaw crushing to 60% passing -2 mm, and pulverizing to 90% passing -106 microns. Multi-element characterization was carried out by partial digestion (HNO3:HCl), using ICP-OES and ICP-MS analytical methods. For selected samples U3O8 weight % was determined separately through partial digest (HCl:HNO3) and ICP-OES (ISO/IEC 17025 accredited method).
Further details regarding the historical exploration/drilling and exploration results noted in this news release can be found within the Saskatchewan Mineral Assessment Database (SMAD) and the Saskatchewan Mineral Deposit Index (SMDI). Fortune Bay has verified several of these occurrences through field prospecting and sampling, however there is a risk that any future confirmation work and exploration may produce results that substantially differ from the unverified historical results. Historical drill hole locations, captured from georeferenced assessment report maps, are subject to uncertainty (considered accurate to +/-50 metres). Manhattan considers these unverified historical results relevant to assess the mineralization and economic potential of the Projects. The historical information referenced derives from SMAD references 74N07-0011, 74N07-0173, 74N07-0277, 74N11-SE-0016 and 74N11-0052.
Chilean Properties
Manhattan also announces that it has terminated the purchase and sale agreement dated December 9, 2025 with Batik Resources Ltd. to sell 100% of the issued and outstanding shares of RIO Explorations SpA (which directly holds the Dorado and Cordillera gold projects in Chile's Atacama Region).
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Galen McNamara, P.Geo., CEO and Director of Manhattan, who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. McNamara is not independent of Manhattan.
About Manhattan
Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: MAUUF) (FSE: J5B0) is a newly consolidated North American uranium company committed to the discovery, development, and advancement of high-quality uranium assets. Following the successful acquisitions of Urano Energy and Pegasus Resources, Manhattan now holds a premier portfolio of 15 past-producing uranium mines across 25 underexplored properties covering 25,099 acres in the United States, complemented by high-grade exploration potential in Canada's Athabasca Basin.
Backed by an elite technical and management team with decades of uranium discovery, project advancement, and capital markets experience, Manhattan is strategically positioned to capitalize on the growing demand for domestic uranium and the American nuclear renaissance.
For more information about Manhattan, please visit: www.manhattanuranium.com.
About Fortune Bay
Fortune Bay Corp. (TSXV: FOR) (FSE: 5QN) (OTCQB: FTBYF) is a Canadian mineral exploration and development company with assets in Canada and Mexico. Fortune Bay's primary focus is advancing the Goldfields Gold Project in Saskatchewan, Canada. Fortune Bay also holds the Poma Rosa Gold-Copper Project in Chiapas, Mexico, as well as an optioned uranium project portfolio in the Athabasca Basin of Saskatchewan. Fortune Bay continues to evaluate and advance its portfolio in a disciplined manner while maintaining a strong technical foundation and prudent capital management. For more information, please visit www.fortunebaycorp.com or contact [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Follow us on social media for the latest updates:
X: https://x.com/manhattanurLinkedIn: https://www.linkedin.com/company/manhattanuranium/On behalf of the Board of Directors of Manhattan
Galen McNamara
CEO & Director
1 (604) 288-8046 [email protected]
References
https://fortunebaycorp.com/news/post/aero-energy-and-fortune-bay-confirm-shallow-high-grade-uranium-up-to-13.80-u3o8-from-drilling-at-murmacSaskatchewan Mineral Assessment Database Files 74N07-0011, 74N07-0173, 74N07-0277, 74N11-SE-0016 and 74N11-0052. (https://www.saskatchewan.ca/business/agriculture-natural-resources-and-industry/mineral-exploration-and-mining/saskatchewan-geological-survey/saskatchewan-mineral-assessment-database-smad)FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). All statements in this release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "may", "will", "expect", "intend", "believe", "anticipate", "estimate", "target", "plan", "potential", "could" or similar terminology. Forward-looking statements in this release include, without limitation the results from work performed to date; the estimation of mineral resources; the realization of mineral resource estimates; the development, operational and economic results of technical reports on mineral properties referenced herein; magnitude or quality of mineral deposits; the anticipated advancement of each of Manhattan's and Fortune Bay's mineral properties and project portfolios, including but not limited to the proposed drilling program referenced herein, including the timing, scope and execution thereof and remaining approvals; exploration expenditures, costs and timing of the development of new deposits; underground exploration potential; costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; exploration prospects of mineral properties; requirements for additional capital; the future price of metals; government regulation of mining operations; current geopolitical developments, including but not limited to U.S. government policy; environmental risks; the timing and possible outcome of pending regulatory matters, including but not limited to the payment of bonds in connection with the proposed programs and plans referenced herein; the realization of the expected economics of mineral properties; future growth potential of mineral properties; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.
Forward-looking statements are based on respective management's current beliefs, expectations and assumptions, including, without limitation: that historical information is reliable; that future exploration activities will proceed as currently anticipated; that permits, equipment, personnel and contractors will be available on commercially reasonable terms; and that current commodity prices, labour availability, cost and regulatory frameworks will remain consistent with respective management's expectations. Although respective management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation: the risk that historical data may prove to be inaccurate or unverifiable; that exploration results may not support further work or drilling; that exploration activities may be delayed, restricted or not carried out as planned; that permits may be delayed or revoked; the absence of adverse conditions at mineral properties; the price of uranium and other metals remaining at levels that render mineral properties economic; each of Manhattan's and Fortune Bay's ability to continue raising necessary capital to finance operations; and the ability to realize on any mineral resource and reserve estimates; each of Manhattan's and Fortune Bay's ability to complete its planned exploration programs; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; fluctuations in exchange rates; the business objectives of each of Manhattan and Fortune Bay; whether economic mineralization can be defined and, if it can be permitted for development; the uncertainty that any mineralization encountered on adjacent properties continues on to any of Manhattan's and Fortune Bay's properties; the uncertainty that geological and/or geophysical and/or any trends, interpretations, or conclusions related to adjacent properties have relevance to any of Manhattan's and Fortune Bay's properties; the uncertainty that the exploration season can be extended; changes in project parameters as plans to continue to be refined; the consequences and implications of the historical mining activities on the environment and whether such affects the potential exploration and/or development of any mining operation on any of Manhattan's and Fortune Bay's properties; the implications of claims from First Nations, Tribes, Tribal Councils or Tribal Governments and land claims settlements on any of Manhattan's and Fortune Bay's projects; accidents, labour disputes and other risks of the mining industry, conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; future prices of metals; possible variations of mineral grade or recovery rates; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; title to properties; operational, technical and geological risks inherent in mineral exploration; changes in capital markets, economic conditions, regulatory developments and stakeholder relations; the other risks set out in each of Manhattan's and Fortune Bay's public disclosure record under its profile on SEDAR+ (www.sedarplus.ca) and respective management's ability to anticipate and manage the foregoing risks and uncertainties.
Each of Manhattan and Fortune Bay provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Each of Manhattan and Fortune Bay does not undertake to update any forward-looking statements, other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300086
Source: Manhattan Uranium Discovery Corp.
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