Mantra Capital Inc.
TSX VENTURE : MTR.P

November 26, 2013 15:38 ET

Mantra Capital Announces Increase in Size of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 26, 2013) - Mantra Capital Inc. (TSX VENTURE:MTR.P) ("Mantra" or the "Company"), a capital pool company, is pleased to announce that it is increasing the size of its previously-announced private placement by up to an additional 1,000,000 shares, representing additional gross proceeds of up to $50,000. The Company is conducting the non-brokered private placement in connection with its Qualifying Transaction, as previously announced in the Company's September 3, 2013 news release.

Subject to approval of the TSX Venture Exchange, the private placement shall now be comprised of up to 8,000,000 common shares at a price of $0.05 per share for gross proceeds of up to $400,000. The Company expects up to 3,500,000 of the shares will be issued on a flow-through basis.

Further details concerning the Qualifying Transaction, the private placement and the Company's proposed subdivision of shares are contained in the Company's news release of September 3, 2013 and will be disclosed in a filing statement to be prepared by the Company and filed on SEDAR.

ON BEHALF OF THE BOARD

Raj Chowdhry, CA, Chief Executive Officer, Chief Financial Officer, Corporate Secretary and Director

Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to exchange requirements, shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

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.

This news release includes certain forward-looking statements and forward-looking information (together, "forward-looking statements"). All statements other than statements of historical fact included in this release, including, without limitation, statements regarding completion of the Private Placement (including the use of the proceeds of the Private Placement) and other future plans and objectives of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events may vary from those anticipated in such statements. Important risk factors that could cause actual results to differ materially from the Company's plans or expectations include risks related to Exchange acceptance of the transactions described above, regulatory changes, other risks normally associated with equity financing and Qualifying Transactions, and risk associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management. The forward-looking statements in this news release were developed based on the expectations of management, including that Exchange acceptance for the proposed transactions will be provided and the other risks described above will not materialize. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

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