SEATTLE, June 26 /PRNewswire-FirstCall/ -- Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) would like to announce the termination of the Sponsorship Agreement with M Partners Inc. which was entered into on December 4th, 2008. Under the terms of the agreement, M Partners Inc. agreed to act as a sponsor and prepare a sponsorship report for Mantra with the goal of listing the company on the TSX Venture Exchange in Canada. After an in depth analysis of other listing options in Canada, it was determined by Mantra's management that the Canadian National Stock Exchange (CNSX) would be better suited for the company's Canadian listing.
The CNSX, formerly known as the Canadian Trading and Quotation System Inc. (CNQ), is an innovative new stock exchange for trading equity securities of emerging companies in Canada. Similar to the TSX.V, the CNSX is a fully reporting, full service exchange. The CNSX offers a cost effective incentive pricing strategy and is dedicated to serving all market sectors, in particular the Green Tech sector. Listing on the CNSX is subject to Mantra meeting the requirements of CNSX and completing its application and approval process.
"There were several factors contributing to the management's decision to list on the CNSX," commented Larry Kristof, President and CEO of Mantra. "Firstly, the exchange's cost structure makes it ideal for emerging companies given the current state of the economy. Secondly, shareholders will benefit from added liquidity while maintaining investor confidence - thanks to the exchange's highest possible standard of regulatory oversight. Lastly, the exchange's commitment to focus on developing industries will help expand Mantra's public profile through an assortment of marketing efforts and sponsorship opportunities. Overall, we are very pleased with the entrepreneurial approach taken by the CNSX, and we look forward to trading on the exchange."
About CNSX:
Formerly known as the Canadian Trading and Quotation System Inc. (CNQ), the exchange re-launched as the CNSX in November 2008 to reflect its status as a full service, national stock exchange. CNSX's unique model matches enhanced disclosure and streamlined issuer regulation with leading edge technology to meet the needs and characteristics of emerging companies, their investors and investment dealers. CNSX is fully recognized by the Ontario Securities Exchange Commission (OSC) as a stock exchange and is subject to OSC regulatory requirements.
For more information on the CNSX, please visit their website: http://www.cnsx.ca/. About Mantra:
Mantra, through its group of sustainable energy, carbon recycling 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.
Investor Relations Terry Johnston 604-267-3022 tjohnston@mantraenergy.com http://www.mantraenergy.com/
Mantra Venture Group Ltd.
CONTACT: Investor Relations: Terry Johnston, (604) 267-3022,
tjohnston@mantraenergy.com, http://www.mantraenergy.com/
