MicroPlanet Announces Non-Brokered Private Placement Equity Financing

Apr. 1, 2011 (Canada NewsWire Group) --

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

SEATTLE, WA, April 1 /CNW/ - MicroPlanet Technology Corp. ("MicroPlanet" or the "Company"); (TSXV:MP) (OTC:MCTYF) an energy conservation smart grid company today announces that it has closed a non-brokered private placement of 3,991,520 units (the "Units") at a price of $0.10 per Unit for gross proceeds of $399,152 (the "Offering").  Each Unit consists of one common share of MicroPlanet (the "Common Shares") and one common share purchase warrant (the "Warrants").  Each Warrant entitles the holder to acquire one Common Share at $0.15 per share for a period of 24 months from the closing date.  Conditional approval has been granted by the TSX Venture Exchange ("TSXV").

The Offering is subject to certain conditions including, but not limited to, the receipt of final approval of the TSXV. The Offering has been approved by MicroPlanet's board of directors. Certain members of Company management and its Board of Directors participated in this Offering by acquiring 1,744,130 Units.

MicroPlanet intends to use these proceeds for the procurement of parts to support manufacturing of MicroPlanet's products, for the marketing and development of MicroPlanet's smart grid and energy conservation products, and for general working capital purposes.

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 Technology Corp. energy management systems improve power quality and save energy by dynamically managing incoming voltage to a customer location through the use of patented, advanced power electronics. MicroPlanet's technology has been deployed by 20 utilities worldwide to improve power quality, grid efficiency and 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. Website: www.microplanet.com.

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.