Company: MicroPlanet Technology Corp.
Stock Listing: MP:TSXV
Stock Listing (US): MCTYF: OTC
Web Site: www.microplanet.com
SEATTLE, WA, July 9, 2012 /CNW/ - MicroPlanet Technology Corp. ("MicroPlanet" or the "Company"), (TSXV: MP) (OTC: MCTYF) a provider of smart grid technology, which
significantly increases efficiency, quality, and conservation, of
electricity, has entered into agreements to amend the terms of the
first tranche of its previously announced private placement of
convertible notes (the "Notes") in the principal amount of $800,000 to provide for a conversion price
of $0.10 per Common Share. All other terms of the Notes remain
About MicroPlanet Technology Corp.
MicroPlanet 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 TSXV 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 THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THE TERM IS
DEFINED IN THE POLICIES OF THE TSXV ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE MicroPlanet Technology Corp.
For further information:
MicroPlanet Investor Relations:
Dave Burwell / Grant Howard
The Howard Group
MicroPlanet Company Contacts:
President & Chief Executive Officer