MicroPlanet Announces Amendment to Terms of Recent Private Placement of Convertible Notes

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 unchanged.

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.

MicroPlanet Investor Relations:
Dave Burwell / Grant Howard
The Howard Group
Ph: 888-221-0915
Fax: 403-237‐8387
[email protected]
www.howardgroupinc.com

MicroPlanet Company Contacts:
Brett Ironside
President & Chief Executive Officer
Tel:  [phone]
Fax: [phone]
[email protected]