MicroPlanet Appoints The Howard Group as Investor Relations Representative; Announces Results of Annual General Meeting and Grants Options
Company: MicroPlanet Technology Corp.
Stock Listing: MP:TSXV
Stock Listing (US): MCTYF: OTC
Web Site: www.microplanet.com
SEATTLE, June 28, 2011 /CNW/ - MicroPlanet, (MP: TSXV) (MCTYF: OTC) a provider of smart grid technology, which significantly increases efficiency and conservation of electricity, announced today that it has appointed the Howard Group, Inc. as its Investor Relations representative. Established in 1988, The Howard Group, Inc. has a multi-disciplined team with extensive backgrounds ranging from new media marketing through finance and journalism. See: www.howardgroupinc.com.
The Howard Group is being retained on a 12 month agreement for C$7,000 per month. The Board of Directors of MicroPlanet has granted the Howard Group 200,000 options to purchase Common shares of MicroPlanet ("Common Shares") at C$0.18 per share for a period of five years, vesting equally over the next four quarters. The Howard Group and its members currently own 1,650,000 shares acquired through a recent private placement, and the associated Insight Limited Partnership II and directors of the General Partner purchased 3,750,000 shares of the same private placement.
Annual General Meeting
At its annual and special meeting of shareholders held on June 23, 2011 (the "AGM"), shareholders appointed Directors of the Company as follows: Myron Tetreault, Brett Ironside, David Andrews, Alan Richardson, and Thomas Van Horn. Biographies of the Directors can be found on the Company's website: www.microplanet.com.
Shareholders also approved the Company's stock option plan, appointed Grant Thornton LLP as auditor, and approved Brett Ironside as a Control Person. Under rules of the TSX Venture Exchange, disinterested shareholders must approve the creation of control persons, which occurs when an investment causes any party to own or control 20% or more of the issued and outstanding shares of a listed company.
The Company also announced today that it has granted options to purchase an aggregate of 1,250,000 Common Shares at a price of C$0.135 per share to officers and directors. In accordance with the Company's stock option plan, (the "Plan") a maximum of 10% of the issued and outstanding common shares of the Company are reserved for issuance pursuant to the exercise of stock options to be granted under the Plan.
About MicroPlanet Technology Corp.
MicroPlanet Technology Corp. solutions improve power quality and save energy by dynamically managing incoming voltage to a home or business through the use of patented, advanced power electronics. MicroPlanet's technology has been deployed in seven countries by more than 20 utilities, the U.S military and multiple commercial customers to save energy, improve power quality and grid efficiency and to facilitate the integration of renewable energy sources, including solar and wind. MicroPlanet is based in Seattle, WA and is listed on the TSX Venture Exchange (TSX-V) trading under the stock symbol: MP. www.microplanet.com.
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS, UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN, THAT COULD INFLUENCE ACTUAL RESULTS MAY BE SUBSTANTIAL AND INCLUDE THOSE DESCRIBED IN DOCUMENTS FILED WITH REGULATORY AUTHORITIES, SUCH AS THE COMPANY'S MOST RECENTLY FILED ANNUAL AND QUARTERLY REPORTS. ACCORDINGLY, NO ASSURANCES CAN BE GIVEN THAT ANY OF THE EVENTS ANTICIPATED BY THE FORWARD-LOOKING STATEMENTS WILL TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO SO, WHAT BENEFITS THE COMPANY WILL DERIVE THEREFROM.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THE TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.For further information:
|MicroPlanet Investor Relations:||MicroPlanet Company Contacts:|
| Dave Burwell / Grant Howard |
The Howard Group
| Brett Ironside |
President & Chief Executive Officer
| Kurt Maass |
Chief Financial Officer