MicroPlanet Technology Corp. (TSXV:MP) announced a non-brokered private placement of up to 30,000,000 units at CAD 0.05 for gross proceeds of up to CAD 1,500,000 on October 18, 2013. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share in at an exercise price of CAD 0.05 per common share for three years from the date of closing. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

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.