MicroPlanet Technology Corp. (TSXV:MP) announced a non-brokered private placement of 30,000,000 units at CAD 0.05 per unit for gross proceeds of CAD 1,500,000 on July 29, 2013. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.10 per share for a period of 36 months following the closing.

On August 13, 2013, MicroPlanet Technology Corp. closed the transaction. The company issued 8,583,304 units for gross proceeds of CAD 429,165.20 in the transaction. The transaction included participation from six placees including David Andrews, a director of the company, who invested for 151,300 units, Jason Cottle, who invested for 5,000,000 units, Alan Richardson, the Chairman of the company, who invested for 483,952 units, Grahame Foulger, a director of the company, who invested for 240,000 units. The company did not pay any finders' fees as part of the transaction. The securities issued are subject to a four month hold period.