LONGWOOD, Fla., July 25, 2017 (GLOBE NEWSWIRE) -- Mantra Venture Group, Ltd. (OTC:MVTG) (the “Company”) announces a new Master Services Agreement with a telecommunications carrier for the use of its Drone Mapping Services. While the contract is of indeterminate value, the Company recently received its first purchase order and the use of the product is expected to begin immediately.
Roger Ponder, CEO, stated: "Through our subsidiary, AW Solutions, we have developed a new cutting-edge technology that is industry leading for the remote mapping and measuring of elevated infrastructure utilizing UAV (unmanned aerial vehicles) or drones. The current level of accuracy, utilizing existing technology, is in excess of 3/4 of an inch which does not allow the utilization of the data collected for a structural analysis to take place. AW Solutions now can to obtain accuracies superior to 1/16th of an inch which is the minimum threshold.”
“This technology has already been field tested in a live environment and now we have executed Master Service Agreements (MSA’s) with major carriers and tower aggregators for tower mapping and analysis services and also visual observations on environmentally sensitive sites where protected species are present.”
Roger Ponder goes on to say “while our initial roll-out is focused on telecommunications towers and antenna mounting structures, this drone technology is also applicable in many other industries including: oil & gas; transportation & shipping; commercial construction; military and any industry where structures need physical measurements taken, which will provide our company with additional revenue streams. Through the use of remote sensing it mitigates the need for people to climb and measure structures and therefore is a safety multiplier for the work environment that reduces risk exposures to workers, businesses and the public.”
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.
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.
CONTACT: Investor Relations Mantra Venture Group, Ltd. 561-672-7068