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MicroPlanet Technology Corp Announces Closing First Tranche Of Equity Private Placement And Notes 2012 Financial Statements Included Restatement

Wednesday, 22 May 2013 08:00am EDT 

MicroPlanet Technology Corp announced that it has closed the first tranche of a non-brokered private placement of 11,197,031 Units at a price of $0.05 per Unit for gross proceeds of CAD559,852. MicroPlanet previously received conditional listing from the TSX Venture Exchange to sell up to 30,000,000 Units at a price of $0.05 per Unit for gross proceeds of up to CAD1.5 million (the Equity Private Placement). The Company also announced that its audited 2012 Consolidated Financial Statements filed on April 30, 2013 included the correction of an error identified during the preparation and audit of such financial statements. As more fully described in the notes to the financial statements, the correction pertains to the presentation of its convertible note obligations (the Notes). In order to properly reflect opening balances under IFRS and to present accurate comparable values for the year ended December 31, 2011, the Corporation's filed 2012 Consolidated Financial Statements included restatements to correct the affected balances on the Statement of Financial Position, Statement of Operations and Comprehensive Loss, Statement of Changes in Equity, and Statement of Cash Flows for the year ended December 31, 2011 and December 31, 2010 as appropriate. 

Company Quote

18 Dec 2014