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Press Release

Mantra Releases Fuel Cell Demonstration

NEW YORK, NEW YORK--(Marketwired - May 27, 2015) - Mantra Venture Group Ltd. (OTCQB:MVTG) and its subsidiary, Mantra Energy Alternatives, have announced the release of a video demonstrating their novel Mixed-Reactant Fuel Cell (MRFC). The video depicts the operation of a scooter, christened the Mantra Spark, powered entirely by the MFRC. The MRFC is an unconventional design that eliminates the expensive, failure-prone membrane required by existing fuel cells.

The video can be found through the following link:

"As far as we know, this is the first time a vehicle has ever been powered by a mixed-reactant fuel cell system," said Larry Kristof, Mantra's CEO. "We are very excited to launch this demonstration and continue breaking ground in this field as we develop the technology."

The MRFC produces power from a mixture of fuel and oxidant, thereby eliminating the requirement for a membrane and simplifying the balance of the fuel cell system. This corresponds to a reduction in the size, weight and cost compared to conventional systems. Utilizing liquid fuels, the MRFC does not face the challenges associated with the storage and distribution of gaseous hydrogen.

"While the MRFC can produce power from many different fuels, the Spark is powered by formate salts," said Mantra's CTO SonaKazemi. "This fits well into Mantra's business, as our other technology, ERC, produces formates from waste carbon dioxide."

By utilizing formate salts, the Spark represents part of an energy storage cycle created by Mantra's two innovative electrochemical technologies. The ERC (Electro-Reduction of CO2) technology uses electricity to convert carbon dioxide emissions, which are responsible for anthropogenic climate change, into a range of high value chemicals, including formate salts. In this way, clean electricity can be stored for future use in the MRFC, in applications including portable, stationary, and backup power.

"The Mantra research team has produced record power from formate fuels through their impressive development work," said Patrick Dodd, Mantra's VP of Corporate Development. "Drs. Forysinski, Kazemi, Nickchi, and Usgaocar, and the rest of the team, have done fantastic work."

Mr. Dodd continued, "While we are not seeking to get into the scooter business, we thought this would be an exciting way to demonstrate the practical capabilities of the MRFC. There is a broad range of markets that this technology can address."

Mantra is continuing to develop industrial partnerships and relationships with institutional and private investors. To this end, members of Mantra's management team are currently in New York City for the Marcum Microcap Conference, and will subsequently present a poster at the Gordon Research Conference on carbon utilization in Massachusetts. At Marcum, Mantra will host a booth on the conference level in front of the Uris room, and will present on May 27 at 4:00 pm in the Imperial room.

The annual Marcum MicroCap Conference is a showcase for public companies with less than $500 million in market capitalization. This year's keynote speaker will be Richard S. Fuld, Jr., Chairman of Matrix Advisors and former Chairman of Lehman Brothers.

For more information or to register, please visit the conference website at or download the free official conference app for the iPhone, iPad, or for Android mobile devices in Apple's App Store and the Google Play Market.

About Mantra Venture Group

Mantra Venture Group Ltd. (OTCQB:MVTG) is a clean technology incubator that takes innovative emerging technologies and moves them towards commercialization. The Company, through its subsidiary Mantra Energy Alternatives, is currently developing two groundbreaking electrochemical technologies designed to make reducing greenhouse gas emissions profitable, ERC (Electro-Reduction of Carbon Dioxide) and MRFC (Mixed-Reactant Fuel Cell).

ERC is a form of "carbon capture and utilization" (CCU) that converts the polluting greenhouse gas carbon dioxide into useful, valuable products including formic acid and formate salts. By utilizing clean electricity, the process offers the potential for an industrial plant to reduce emissions while generating a salable product and a profit.

The MRFC is an unconventional fuel cell that uses a mixture of fuel and oxidant, thereby greatly reducing the complexity and cost of the fuel cell system. Ideal for portable applications, the MRFC is cheaper, lighter, and more compact than conventional fuel cell technologies.

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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 forward-looking statements.

Mantra Venture Group Ltd.
(604) 560-1503
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