MicroPlanet Closes on $6.9 Million in Equity Financing



    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES./

    Stock Listing: MP:TSXV
    Stock Listing (US): MCTYF: OTC
    Web Site: www.microplanet.com

    SEATTLE, WA, June 13 /CNW/ - MicroPlanet, (MP:TSXV & MCTYF:OTC) a clean
technology, energy conservation company, is pleased to announce closing of
$6.9 million first tranche of the private placement equity financing.
    MicroPlanet issued 10,643,900 units ("Units") at a price of $0.65 per
Unit for gross proceeds of $6.9 million in Canadian dollars. Each Unit
consisted of one common share of MicroPlanet and one-half of one common share
purchase warrant. Each whole warrant is exercisable for one common share at a
price of $0.90 per share for a period of 24 months from the closing date. If
at any time during the exercise period of the warrants the volume weighted
average price at which MicroPlanet's common shares have traded on the TSX
Venture Exchange for any 20 consecutive trading days exceeds $1.50 per share,
MicroPlanet may notify the warrant holders and the warrants will expire
30 days following the date of any such notice.
    All of the common shares and warrants issued pursuant to the financing
will be subject to a 4-month hold period in accordance with applicable
securities laws and stock exchange requirements.
    A final closing of the private placement equity financing for a total
combined gross proceeds of up to $8 million is expected to occur on or about
June 30, 2008.
    The financing syndicate of agents (the "Agents") was led by Loewen,
Ondaatje, McCutcheon Limited and included PI Financial Corp. and D&D
Securities Co.
    In connection with this closing of the financing transaction, MicroPlanet
paid the Agents a 7% commission fee of total gross proceeds and issued an
aggregate of 745,073 non-transferable compensation options, each entitling the
holder to acquire one Unit having the same characteristics as those described
above, at a price of $0.65 per Unit.
    Bruce Lisanti, CEO of Microplanet said, "I would like to thank the
members of the financing syndicate for their efforts on the closing of our
private placement equity financing. A special thank you goes to our lead agent
Loewen, Ondaatje, McCutcheon Limited, Priya Patil and her team for their
professional manner and dealings throughout this financing process."
    Lisanti continued, "The private placement was made up almost entirely of
institutional investors, including several that are new to MicroPlanet. We are
very pleased to have the ability to broaden and diversify our investor base as
a result of this financing."
    "The proceeds will be used to finance the growth of MicroPlanet. We now
have a $6.6 million backlog of orders. Commercial shipments to fulfill these
orders will begin this month. We expect to convert multiple pilots and field
tests into substantial sales in all three of our primary markets; energy
savings for commercial and residential clients, and peak load reduction for
utilities. In addition, we are working with a number of utilities to integrate
renewable generation on their grids. The financing will allow us to develop
additional products to meet our customer's needs and to expand our market
presence," said Lisanti.
    Subsequent to the closing of the private placement, MicroPlanet has
approximately 40.8 million shares outstanding.

    This press release does not constitute an offer to sell or a solicitation
of an offer to buy the securities in the United States. The securities offered
have not been registered under the U.S. Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration or an
application exemption from the registration requirements.

    About MicroPlanet Technology Corp.

    MicroPlanet's technology helps to reduce the total amount of energy we
need to produce by significantly increasing the efficiency of the electric
grid. MicroPlanet's products dynamically manage the voltage delivered to a
business or home to optimal levels, which saves energy, lowers electricity
bills and helps reduce greenhouse emissions. The Company's products also
reduce peak period demand and can improve utility services. In areas where
substantial energy is generated from wind and solar, MicroPlanet systems also
help to balance the voltage levels, improving the power quality for
residential and commercial users." MicroPlanet website: 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 AND ANNUAL INFORMATION FORM. 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.

    THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE
    INFORMATION CONTAINED HEREIN.

    %SEDAR: 00020555E




For further information:

For further information: MicroPlanet Company Contacts: Bruce Lisanti,
President & CEO, Tel: (206) 625-0851, Fax: (206) 625-0999,
blisanti@microplanet.com; MicroPlanet Investor Relations: Gerry Wimmer,
INVESTORFILE.com, Tel: (416) 360-8895, Toll Free: 1-888-894-8222,
gwimmer@investorfile.com

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MicroPlanet Technology Corp.

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