Mantra Capital Announces Closing of Qualifying Transaction, Private Placement and Stock Split

Mantra Capital Announces Closing of Qualifying Transaction, Private Placement and Stock Split
  
 

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 30, 2013) - Mantra Capital Inc. (TSX-VENTURE:MTR.P) ("Mantra" or the "Company") is pleased to announce it has received approval from the TSX Venture Exchange (the "Exchange") with respect to its Qualifying Transaction, private placement, and subdivision of its outstanding shares as previously announced in the Company's September 3, 2013 and November 26, 2013 news releases.

The Company issued 7,460,000 common shares to various subscribers at a price of $0.05 per share for gross proceeds of $373,000. The Company issued 3,500,000 common shares on a flow-through basis. All shares will be subject to a four (4) month hold period, which will expire on May 1, 2014

As a result of the completion of the Qualifying Transaction, Raj Chowdhry remains as the Chief Executive Officer of the Company and the Company appointed Wylie Hui as the Chief Financial Officer of the Company and Tiffany Konings as the Corporate Secretary of the Company.

The Company will commence trading under the symbol MTR at the opening of the market on December 31, 2013.

Further details concerning the Honeymoon Property, the Option Agreement, the Subdivision and the Private Placement were disclosed in a filing statement prepared by the Company and filed on SEDAR.

ON BEHALF OF THE BOARD

Raj Chowdhry, CA, Chief Executive Officer and Director

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX-V has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Mantra Capital Inc.Raj ChowdhryChief Executive [e-mail]