LONGWOOD, Fla., June 08, 2017 (GLOBE NEWSWIRE) -- Mantra Venture Group, Ltd, (OTC:MVTG) (the “Company”), has appointed Roger Ponder as its new CEO and the following is his update to the Company's shareholders:
“Dear Shareholders and Investors:
I wanted to take this time to formally introduce myself as the new CEO of Mantra Venture Group, and provide our shareholders an update on the company, its changes, vision, strategy and exciting future that we believe will create greater shareholder value over the long term. Larry Kristof, the Company’s former CEO, will remain with the Company as the President of the Mantra Energy Alternatives subsidiary to continue the development work to commercialize alternative energy technologies.
The Company recently announced its intention to change its name from “Mantra Venture Group to “Spectrum Global Solutions, Inc.” The name change reflects the acquisition of AW Solutions, Inc. and the significant expansion in services and solutions now able to be offered by the Company.
AW Solutions (AW) is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean. AW specializes in a vast array of comprehensive turnkey solutions to wireless and wireline communication carries, utilities and energy sector companies, aggregator management companies, enterprise/venue clients, original equipment manufacturers (OEM’s) and project management offices (PMO’s). The combination of Mantra Energy with AW provides our customers with a broad range of additional professional engineering and infrastructure solutions. AW Solutions brings to the Company strong operations, a track record of excellence in execution and a Fortune 500 client base producing over $10 Million in annual revenue. We expect to see solid revenue growth from AW’s management team, national and international footprint, and breadth of comprehensive services.
The acquisition of AW Solutions enables this Company to take advantage of exciting new technology in the IT and telecom space and support for the deployment of Mantra Energy’s technology.
In the telecom industry, there is the pending deployment of enhanced mobile and fixed solutions which includes: IOT deployment, 5G technology deployment; FirstNet national public safety system for first responders; and the development of disruptive technology with software defined networks (SDN) and network function virtualization (NFV). There is a current need to deploy, expand and enhance the telecom and data networks as well as augment infrastructure and enterprise facilities to support this new technology and bandwidth demands of the market.
AW Solutions is developing its own proprietary technology. As a product and solution, AW has added Unmanned Aircraft Vehicles (UAV’s) structural mapping and inspection services to its portfolio of comprehensive services. Through the development of proprietary technology, currently being patented, coupled with the use of the UAV fleet and other methods we are able to, with unparalleled precision, conduct structurally mapping, measurement, analysis and video capture of structures and associated technologies such as antenna mounts, telecom equipment, etc. Traditionally, to perform these services, it required structural climbing crews to physically ascend and measure the structural members. Now, we are able to perform our engineering solutions without the need for structural or tower climbing and thereby increase safety and increase productivity. This new proprietary technology has many other industry applications to include: telecommunications; utilities; government; energy; military; and transportation just to name a few and may provide a potential revenue stream in the future from licensing fees.
Mantra Energy Alternatives, spearheaded by Larry Kristof, continues to focus on developing and commercializing two electrochemical technologies designed to make reduction of greenhouse gas emissions profitable, ERC (Electro-Reduction of Carbon Dioxide) and MRFC (Mixed-Reactant Fuel Cell). The merger of AW into Mantra should not be a signal that we are giving up any existing energy technology assets. To the contrary, the merger enables Larry Kristof to focus on the development of these energy assets without additional capital constraints of a public company operation. AW can support that commercialization with their internal engineering and construction capabilities.
We will attempt to capitalize on these transformative changes in technology with strong operational execution, a focus on driving profitability through comprehensive service offerings and organic and acquisitive growth strategies. We will execute on a strategy to build, innovate, buy, partner, and seamlessly integrate. We will be acquisitive to increase our services, footprint and customer base in all our service offerings.
Our commitment is to develop sustained revenues and earnings. At the core of all our decisions is how can we increase shareholder value over the near and long-term. Whether we are a business buyer or a seller, the bottom line is the creation of real shareholder value. My goal is to grow this Company significantly over the next twelve months and seek up listing to a national exchange. We appreciate the support of our shareholder base and look forward to finishing 2017 with exciting results.
Roger Ponder
Chairman & CEO
About Mantra Venture Group:
Mantra Venture Group Ltd. (MVTG) operates through its AW Solutions and Mantra Energy Alternatives subsidiaries.
AW Solutions (AW) is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean. The Company’s subsidiary Mantra Energy Alternatives is developing electrochemical technologies designed to make reducing greenhouse gas emissions profitable. For more information about the Company and its technologies visit the Company’s website at: http://www.mantraventuregroup.com and its public filings at SEC.gov.
Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.