Mr. Drew Green reports

MONAGHAN ANNOUNCES TERMINATION OF QUALIFYING TRANSACTION WITH MATADOR GOLD TECHNOLOGIES

Further to the Monaghan Capital Fund Ltd.'s (formerly, Gravitas III Capital Corp.) press releases dated March 13, 2023, April 6, 2023, May 31, 2023, June 6, 2023, June 29, 2023, and July 6, 2023, the deadline to enter into a definitive agreement pursuant to the non-binding letter of intent dated March 10, 2023, as amended, between the company and Matador Gold Technologies Inc., has lapsed, and the LOI has terminated.

The company will continue to pursue and evaluate other businesses and assets with a view to completing a qualifying transaction (as such term is defined in Policy 2.4 of the TSX Venture Exchange) and will make further announcements with respect to these efforts as soon as practically possible. In the interim, the company will apply to the exchange to reinstate trading of the company's common shares.

About Monaghan Capital Fund Ltd.

The company was incorporated as "Gravitas III Capital Corp." under the Business Corporations Act (British Columbia) on July 6, 2021, and is a capital pool company (as such term is defined in Policy 2.4 of the exchange) listed on the exchange. The company has no commercial operations and no assets other than cash. On June 29, 2023, the company changed its name to Monaghan Capital Fund Ltd., which was approved by the exchange on July 12, 2023.

We seek Safe Harbor.