Mantra Venture Group announces $500,000 financing
SEATTLE, Oct. 20 - Mantra Venture Group Ltd.
("Mantra", OTCBB: MVTG, FSE: 5MV) is pleased to announce that it has
secured a total of US $500,000 in financing. The proceeds of this
financing will be used to fund Mantra's day to day operations and
further commercialization of its Electro Reduction of Carbon Dioxide
('ERC') reactor.
Larry Kristof, Mantra's President and Chief
Executive Officer commented on the financing, "We are extremely
encouraged that even when faced with an economic backdrop of uncertain
investor confidence, an unprecedented credit crisis and suspect growth,
Mantra is still able to attract new sources of funding. This financing
further reinforces that the investment community is still excited about
sustainability projects and believes that Mantra's robust plan of
growth and profitability is sustainable in any financial environment."
For more information on this financing please see Mantra's filings with the U.S. Securities and Exchange Commission on www.sec.gov.
About Mantra:
Mantra,
through its group of sustainable energy, carbon reduction and consumer
product subsidiaries, is active in the green technology marketplace
with an innovative, multi-faceted approach focused on profitability
through sustainability. By aggressively seeking out new technologies
and innovating solutions for a cleaner earth for everyone, Mantra
intends to provide a highly profitable and environmentally responsible
investment for its shareholders.
Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 5MV.
Forward-Looking Statements:
Except
for the historical information contained herein, the matters discussed
in this press release are forward-looking statements. Actual results
may differ materially from those described in forward-looking
statements and are subject to risks and uncertainties. See Mantra
Venture Group's filings with the Securities and Exchange Commission
which identify specific factors that may cause actual results or events
to differ materially from those described in the forward-looking
statements.
