MicroPlanet Technology Corp. announced that it has received CAD 0.39 million in funding.
On November 6, 2013, the company announced that it has issued 4,995,673 units for gross proceeds of CAD 249,783.71 in its first tranche close. The units were sold pursuant to applicable registration and prospectus exemptions to qualified investors in Canada and the United States. The securities issued are subject to a four-month hold period in accordance with applicable securities laws.
On December 4, 2013, MicroPlanet Technology Corp. closed the transaction. The company has issued 2,887,567 units for gross proceeds of CAD 144,378.35 in the final tranche. The company has issued a total of 7,883,240 units for gross proceeds of CAD 391,662 in the transaction to 12 placees including Edward Garth who purchased 263,773 units.