Mantra Signs Exclusive Option Agreement for License to Mine Wastewater
Mantra To Feature Electro-Reduction of Carbon Technology at Open House Investor Reception on Friday, February 27th, 2009.
SEATTLE, Feb. 27 - Due to overwhelming support and interest at last week's Global Chinese Financial Forum, Mantra Venture Group Ltd. (OTCBB: MVTG, FSE: 5MV) is pleased to announce it will be holding an open house reception at the Kemetco Research Friday, Feb 27th, 2009. Larry Kristof, President and CEO of Mantra, will be onsite featuring live demonstrations of the company's Electro-Reduction of Carbon (ERC) technology, and to talk one-on-one with members of the investing community. In addition to technical demonstrations, Mr. Kristof will also be sharing with investors the company's strategic growth strategy in its effort to become an industry leader over the next five years.
Mr. Kristof comments: "It is with great pleasure that we open our doors to the investing community to provide a first-hand look at Mantra's ERC technology. It is very rare that investors are given the opportunity to see up close and in person the technologies underlying their investments, and I am quite confident that all of those in attendance will be fascinated by the intricate performance of Mantra's ERC reactor."
Kemetco Research Inc. is located at Unit #445, 5600 Parkwood Way, Richmond, BC Canada, V6V 2M2. Reception hours are from 4:00-7:00 pm PMT on Friday February 27th.
Mantra Signs Exclusive Option Agreement for License to Mine Wastewater
Technology
Mantra is pleased to announce that has just signed an Exclusive Option Agreement with Synergy BioMetals Recovery Systems Inc. to license its Mine Wastewater Technology. This technology effectively converts acid mine drainage into clean water with a neutral pH- suitable for release into the environment. This technology represents a significant new opportunity for Mantra and its shareholders, and it will be on-site for display and discussion at today's Investor Reception. The parties are obligated to negotiate the terms of the acquisition in good faith until March 31, 2009. This deadline may be extended to May 31, 2009 through the payment of CAD $5,000 to Synergy BioMetals Recovery Systems Inc.
About Mine Wastewater
The US Environmental Protection Agency ranks mining as the United States' top toxic polluter, reporting more toxic releases annually than any other sector. Acid generation occurs naturally in the mining process as waste rock and metal tailings are exposed to water and oxygen. The result is contaminated, toxic water that has serious ramifications on the local environment if left untreated. The EPA estimates that over 40% of US western waterways are contaminated by mining activities.
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.
MVTG also expects that the complementary nature of ERC and the electro-oxidation process that drives fuel cells may make it possible to use ERC in a regenerative fuel cell cycle, where CO(2) is converted into a fuel that is consumed in the fuel cell. The company is also exploring ERC applications for the production of steel and fuel additives.
About Mantra Venture Group Ltd.
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.
Investor Relations
Terry Johnston
604-267-3022
tjohnston@mantraenergy.com
www.mantraenergy.com
Source: Mantra Venture Group Ltd.
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