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MicroPlanet Technology Corp Announces Private Placement


Friday, 18 Oct 2013 08:00am EDT 

MicroPlanet Technology Corporation announced a non-brokered private placement pursuant to which the Corporation proposes to issue up to 30,000,000 Units at a price of $0.05 per Unit for gross proceeds of up to CDN$1.5 million. Each Unit will be comprised of one common share in the capital of the Corporation and one common share purchase warrant. Each warrant entitles the holder to acquire one common share in the capital of the Corporation at any time until the date that is 36 months following the closing date of the Offering upon payment of the exercise price of $0.05 per common share. The proceeds from the Offering will be used by the Corporation to finance the fulfillment of existing and expected commercial orders; further the development of voltage regulators; reduce notes payable; and for general working capital purposes. 

Company Quote

0.0050
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18 Dec 2014