SEATTLE, WASHINGTON--(Marketwired - Jun 19, 2013) - MicroPlanet Technology Corporation ("MicroPlanet" or the "Corporation") (TSX VENTURE:MP)(MCTYF) a provider of smart grid and power quality technology, which significantly increases efficiency, quality and conservation of electricity is pleased to announce the closing of its previously announced non-brokered private placement. The Corporation issued 16,415,531 Units at a price of $0.05 per Unit for gross proceeds of CDN$820,776.55. Each Unit was comprised of one common share in the capital of the Corporation and one common share purchase warrant. Each warrant entitles the holder to acquire one common share in the capital of the Corporation at any time until the date that is 36 months following the closing date upon payment of the exercise price of $0.10 per common share.
The Units were sold pursuant to applicable registration and prospectus exemptions to qualified investors in Canada and the United States. The common shares comprising the Units and any common shares acquired pursuant to the exercise of the warrants are subject to a four-month hold period in accordance with applicable securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The Units have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an application exemption from the registration requirements.
About MicroPlanet Technology Corp.
MicroPlanet Technology Corp. is a smart grid, energy conservation Corporation whose technology improves power quality and saves electric energy by the dynamic management of incoming voltage to a home or business. Installation of MicroPlanet products for utilities has improved utility services and facilitates the integration of renewable energy sources, including solar and wind, to the power grid. MicroPlanet is based in Seattle, WA and is listed on the TSX Venture Exchange (TSX-V) trading under the stock symbol: MP. MicroPlanet's website is www.microplanet.com.
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