NEW NEWS Mantra Will Meet With Its Strategic Partners, KC Cottrell and Korea Southern Power Co., Ltd.
SEATTLE, WA, Jul. 29, 2010 (Marketwire) --
SEATTLE, WA -- (Marketwire) -- 07/29/10 -- Mantra Venture Group Ltd. ('Mantra') (OTCBB: MVTG) (FRANKFURT: 5MV) is pleased to announce that the management team will leave August 7th for Korea to meet with KC Cottrell ('KC') and Korea Southern Power Co., Ltd. ('KOSPO'). The objective of the meeting is for the strategic partners to review the planned demonstration project face-to-face and to sign the agreement.
The parties will meet in Seoul to review and finalize an agreement that will start the planned demonstration project. Mantra, KC and KOSPO will also hold discussions to facilitate the detailed coordination required as the demonstration is underway. A public signing ceremony is planned with all three companies fielding senior representatives: this will be the highlight of the visit. The Mantra group will carry on to the Hadong Power Plant to inspect the proposed demonstration site.
Larry Kristof, CEO, who will lead the Mantra delegation, had this to say: "We are very pleased to be finalizing this deal with our Korean partners KC Cottrell and KOSPO. The demonstration project will be underway shortly."
Other visits are planned for the Mantra team relating to future opportunities.
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About ERC: The ERC process, 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 green chemicals, new chemicals beyond formic acid, building products and liquid fuels.
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.
