Business
MicroPlanet Announces Private Placement, Shares for Debt
Jul. 5, 2011 (Canada NewsWire Group) -- Stock Listing: MP:TSXV Stock Listing (US): MCTYF:...
About this update from Medicure Inc.
[{"type":"text","content":"\n\n\n Jul. 5, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nStock Listing: MP:TSXV\nStock Listing (US): MCTYF: OTC\n\n\nSEATTLE, WA, July 5, 2011 /CNW/ - MicroPlanet Technology Corp.\n ("MicroPlanet" or the "Company"), (MP:TSXV & MCTYF:OTC) a provider of\n smart grid technology, which significantly increases efficiency,\n quality, and conservation, of electricity, today is pleased to announce\n that it intends to close a non-brokered private placement of 9,637,450\n units (the "Units") at a price of C$0.10 per Unit (the "Offering"). \n Each Unit consists of one common share of MicroPlanet (the "Common\n Shares") and one Common Share purchase warrant (the "Warrants").  Each\n Warrant entitles the holder to acquire one Common Share at any time\n prior to 4:00 p.m. (Seattle time) on the date that is two years from\n the closing date of the Offering upon payment of the exercise price of\n C$0.15 per Common Share.\n\n\nThe Offering is subject to certain conditions including, but not limited\n to, the receipt of all necessary regulatory approvals, including the\n approval of the TSX Venture Exchange ("TSXV"). Certain members of the\n Company's management and its Board of Directors intend to participate\n in the Offering by acquiring, in the aggregate, 5,687,450 Units.\n\n\nThe Offering, if completed, will raise initial gross proceeds of up to\n C$963,450 and up to a further C$1,445,617.50 assuming full...