M Partners Agrees to Sponsor Mantra’s TSX-V Listing and Raise New Capital

SEATTLE, Dec. 10 /PRNewswire-FirstCall/ – Mantra Venture Group Ltd. (“Mantra”, OTCBB: MVTG, FSE: 5MV) is pleased to announce that M Partners Inc. has agreed to act as a sponsor and prepare a sponsorship report for Mantra’s anticipated listing application on the TSX Venture Exchange in Canada. M Partners has also agreed to raise up to CAD $1.5 million through private placements to institutional and accredited investors to be completed on closing of the TSX-V listing.

M Partners is an independent institutional investment bank with a focus on research, trading and advisory services. M Partners is a member of IIROC and a participating member of the TSX and TSX Venture exchanges. M Partners has participated in approximately $1 billion of Investment Banking activities since inception. The Company has offices in Toronto and Vancouver.

“The TSX-V is an efficient and regulated exchange which will provide Mantra with increased investor exposure and more direct access to a dynamic clean technology industry fueled by very strong support from government initiatives,” Larry Kristof, Mantra’s President and CEO said. “M Partners has been involved with many promising companies in the past and I believe that their commitment to raise capital for Mantra displays the market’s understanding of the need for the technologies we are developing. I am very pleased that M Partners believes Mantra has what it takes to prosper on the TSX-V.”

Mantra also secured USD $300,000 in recent financing through the sale of its equity securities. These funds will be used to meet Mantra’s working capital requirements and finance commercialization initiatives for its flagship carbon reduction technology: ERC.

“These are very exciting times for Mantra. In a difficult economic climate, Mantra continues to show strength and resilience. Through committed focus to clean technology Mantra has been able to raise capital, garner interest from government and industry and catch the eye of experienced, forward thinking investment professionals such as M Partners. With such continued support, we are very excited and optimistic about the future of this company,” Larry Kristof commented.

About ERC:

The ERC process, defined as the Electrochemical Reduction of Carbon dioxide, combines captured carbon dioxide with water to produce high value materials, such as formic acid and formate salts, which are conventionally obtained from the thermochemical processing of fossil fuels. However, ERC has an advantage over the established thermochemical methods for converting carbon dioxide to liquid fuels.

While thermochemical reactions must be driven at relatively high temperatures that are normally obtained by burning fossil fuels, ERC operates at near ambient conditions and is driven by electric energy that can be taken from an electric power grid supplied by hydro, wind, solar or nuclear energy.

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, more importantly, socially 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 EDV 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.

Disclaimer:

Mantra has not yet filed the listing application to the TSX Venture Exchange. There is no guarantee that Mantra will file an application to the TSX-V for listing. Even if Mantra does file the application, there can be no assurance that the TSX-V will accept Mantra’s application and will grant a listing.

[Via http://www.prnewswire.com]

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