Mantra Venture Group announces $500,000 financing

Mantra Venture Group Ltd. ("Mantra", OTCBB: MVTG, FSE: 5MV) is pleased to announce that it has secured a total of US $500,000 in financing. The proceeds of this financing will be used to fund Mantra's day to day operations and further commercialization of its Electro Reduction of Carbon Dioxide ('ERC') reactor.

Larry Kristof, Mantra's President and Chief Executive Officer commented on the financing, "We are extremely encouraged that even when faced with an economic backdrop of uncertain investor confidence, an unprecedented credit crisis and suspect growth, Mantra is still able to attract new sources of funding. This financing further reinforces that the investment community is still excited about sustainability projects and believes that Mantra's robust plan of growth and profitability is sustainable in any financial environment."

For more information on this financing please see Mantra's filings with the U.S. Securities and Exchange Commission on www.sec.gov.

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 results or events to differ materially from those described in the forward-looking statements.