MicroPlanet Technology Corp. (TSXV:MP) announced a non-brokered private placement of up to 55,500,000 units at a price of CAD 0.02 per unit for gross proceeds of up to CAD 1,110,000 on March 4, 2014. Each unit will be consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at CAD 0.02 per share for a period of 36 months. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.

On March 20, 2014, the company closed the first tranche of the transaction. The company issued 5,558,200 units for proceeds of CAD 111,164. The securities issued as part of the transaction are subject to a hold period of four months from the date of issue.

On April 15, 2014, the company has issued 12,730,768 units for gross proceeds of CAD 254,615.36 in the second tranche. The company has issued 18,288,968 units for gross proceeds of CAD 365,779 in the transaction till date.

On April 30, 2014, MicroPlanet Technology Corp. closed the transaction. The company has issued a total of 50,398,310 units at a price of CAD 0.02 per unit for gross proceeds of CAD 1,007,966 in the round. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 47 placees. Edward Garth, Chief Financial Officer, Joe Tanner, Chief Executive Officer, President, Chief Operating Officer each purchased 1,296,750 units, Alan Richardson, David Andrews, Grahame Foulger of G&M Foulger Super Pty Ltd., John Fluke each purchased 486,281 units of the company. The company not paid any finder's fee. Directors and officers of the company participated in the final closing of the transaction and issued 4,828,862 units for gross proceeds of CAD 96,577.