MicroPlanet Announces Private Placement

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

SEATTLE, WA, Dec. 20, 2011 /CNW/ - (TSXV: MP) & (OTC: MCTYF) - MicroPlanet Technology Corp. ("MicroPlanet" or the "Company") a provider of smart grid technology which significantly increases efficiency, quality, and conservation of electricity is pleased to announce that it has closed a non-brokered private placement of 2,500,000 units (the "Units") at a price of C$0.10 per Unit (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 any time prior to 4:00 p.m. (Seattle time) on the date that is two years from the closing date of the Offering upon payment of the exercise price of C$0.15 per Common Share.

Certain members of the Company's management and its Board of Directors participated in the Offering by acquiring, in the aggregate, 1,000,000 Units.

The Offering raised initial gross proceeds of C$250,000 and up to a further C$375,000 assuming full exercise of the Warrants. MicroPlanet intends to use these proceeds for the retirement of maturing convertible securities and for general working capital purposes. Certain of the Common Shares issuable pursuant to the Offering will be subject to a four-month hold period in accordance with applicable securities laws and TSXV requirements.

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.