- By CFei
SEATTLE, April 13, 2011 — Mantra Venture Group Ltd. (‘Mantra’) (OTCBB:MVTG – News) (Frankfurt:5MV – News) (“Mantra” or the “Company”) is pleased to announce that the Company has entered into a Memorandum of Understanding (“MOU”) with Green Commerce Innovation Corporation of Richmond, BC (“GCIC”). The MOU facilitates the cultivation of business opportunities for Mantra in China from both an investment front, as well as a technology deployment front.
GCIC is a business cultivator in the Cleantech, Greentech and Clean Energy sectors with a market focus in the Asia Pacific region. GCIC develops clear understanding of customer needs, and addresses the needs with innovative solutions involving analysis, design, techniques, technologies and training.
GCIC has had the opportunity to see Mantra’s technology firsthand and understands the value it will have in mitigating the effects of CO2 emissions, while concurrently providing an end product of high value for other applications.
The MOU marks the commencement of the due diligence process which may potentially lead to a formal definitive partnership agreement setting out the terms and conditions of all future business arrangements between Mantra and GCIC.
Mantra President Larry Kristof had this to say about this latest development for the company, “We are elated that Mantra’s technology has found an interest with GCIC and we look forward to forging a strong identity in China with GCIC as our partners in deployment.”