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Mantra Venture Group announces entry in Letter of Intent for an Exclusive Distribution Agreement with E.S.D. Environmental Protection and Technology Co., Ltd. of the Peoples Republic of China

2008-08-13 17:53:00


    SEATTLE, WA, Aug. 13 /EMWNews/ - Mantra Venture Group Ltd.

("Mantra" - OTCBB: MVTG - FSE: 5MV) is pleased to announce that it has

entered into a Letter of Intent to enter into Exclusive Distribution

Agreement with E.S.D. Environmental Protection and Technology Co., Ltd.

("E.S.D.") of the Peoples Republic of China. The Exclusive Distribution

Agreement will allow Mantra to bring a number of innovative new products

into the North American marketplace. These products are of interest to

Mantra because they will contribute to a cleaner, greener world and to the

reduction of carbon dioxide from day-to-day human activities.

    E.S.D.(website: is located in Dongguan,

Guangdong, mainland China, approximately a 1.5 hour drive from Hong Kong.

E.S.D. has over 800 employees, including a team of highly qualified

engineers and photovoltaic experts. They are one of the leading supplies of

solar products and stay on the cutting edge of designing and manufacturing

renewable solar energy products. E.S.D. develops and manufactures

innovative outdoor solar lights, LED lights, solar power home generation

systems, wind and solar hybrid power systems, solar charge controllers and

other related products. These products cover over 50 product lines with

more than 200 products. These products generate annual revenues of

approximately US $30 million.

    The Letter of Intent is entered into with Mantra China Ltd., a

subsidiary of Mantra.

    Mr. Dan Funaro, a member of Mantra's Corporate Advisory Board has

traveled to China a number of times to establish the relationship and to

explore how Mantra will work with its partner. "This is not about specific

products, it is about creating a two-way communication channel about green,

sustainable, renewable products that will benefit both parties over the

years," he said.

    Mantra China will selectively import chosen products which it sees as

value to the North American market and will ensure that they are reviewed,

tested and approved for use in North America. These products will then be

launched, and subsequently driven to achieve their niche in the

marketplace. In addition, Mantra China will represent the various other

Mantra subsidiaries in taking their new "green" technologies generated by

Mantra in North America, into China.

    Larry Kristof, Mantra's C.E.O., commented "In making this agreement

with E.S.D. we have become aware of the remarkable resources that exists in

this company and in China generally. We intend to mine the innovative

technologies being developed there and to ensure their exposure to the

wider world. This is true two-way trade, and it supports the Mantra vision:

sustainable, renewable and profitable."

    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, 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 5MV. For more

information please visit us at

    Mantra is encouraging and enabling investors to make environmental

consumer choices with a free environmental bag. Sign up here:

    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.

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