LONGWOOD, Fla., July 06, 2017 (GLOBE NEWSWIRE) -- Mantra Venture Group, Ltd. (OTC:MVTG) (the “Company”) CEO Roger Ponder provides outlook for balance of 2017.
Roger Ponder, CEO, stated: "As we have reported, in the last 60 days we have generated nearly $4 Million in new contracts and purchase orders from new and existing customers. As we announced yesterday, we just recently secured new a contract for approximately $1.7 Million to provide a full fiber network and small cell design for a tier 1 customer.
"Our AW subsidiary is continuing take advantage of changes in the telecommunication industry with the roll out of enhanced mobile broadband, small cell architecture and launch of 5G technology and the needs to modernize networks to accommodate mobile connectivity and the billions of Internet of Things (IoT) connected devices. 5G along with the continued investment of supporting infrastructure, and specifically the deployment of fiber optic infrastructure which a Deloitte Consulting LLP analysis estimates the United States requires $130-$150 billion over the next 5-7 years to adequately support broadband and wireless densification, will be a critical part of staying ahead of consumer demand for connectivity. While there are many elements to this new technology, it is exciting to see what 5G means to supporting the massive data consumption of reality/virtual reality, video delivery, mobile advertising, self-driving cars, healthcare, and more. The bottom line is more people, more devices, more data enriched applications that will drive the incredible growth of mobile traffic over the next 5+ years.
"There is a tremendous backlog of work that our company and the industry is experiencing now and expecting to continue through 2017, into 2018 and beyond. Our AW Solutions subsidiary is expecting a very strong finish to 2017 with momentum building well into to 2018 as we strive to meet the increasing demands of the enterprise and service provider markets."
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 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.