MicroPlanet Announces Closing of Private Placement and Corporate Update

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


MicroPlanet Technology Corporation ("MicroPlanet" or the "Corporation") (TSX
VENTURE:MP)(PINKSHEETS:MCTYF), a provider of smart grid technology and products
which significantly increases efficiency, quality and conservation of
electricity and enables the integration of alternative energy into the power
grids, announces the closing of its previously announced non-brokered private
placement and is providing a corporate update.


Corporate Update

MicroPlanet previously announced (November 12, 2012) that it had entered into
the Integration and Commercialization Agreement, a multi-million dollar formal
licensing agreement, with Tyree Industries Pty Ltd. (Tyree), the leading
supplier of power transformers in Australia. In accordance with the development
phase of the Agreement, MicroPlanet has built and delivered the prototype module
to Tyree for testing. Upon completion of testing and mutual review of testing
results, a determination will be made as to the readiness of the product design
to move to the next phase of the agreement, which will include a complete design
documentation and issuance of a Notice of Acceptance. The Company believes that
its agreement with Tyree is progressing satisfactorily toward the production
phase.


MicroPlanet has received purchase orders from two Australian utilities totaling
AUD$215,260 (CDN$215,899), of which it has fulfilled AUD$68,500 to date.
Significantly, the purchase orders include eight (8) of MicroPlanet's three
phase regulators ("SVR") that was designed in response to utility customer's
request. The SVR represents the 3 phase version of the Company's widely deployed
one phase regulator ("LVR") with added communication capabilities and additional
features.


MicroPlanet today is pleased to announce that the U.S. Department of Energy's
National Renewable Energy Laboratory (NREL) has requested MicroPlanet to provide
voltage regulation technology services for the U.S. Department of Energy Solar
Decathlon 2013 and XPO to be held in Irvine, CA., October 3-6 and October 10-13,
2013. MicroPlanet has received a USD$45,000 purchase order from the City of
Irvine, the host of the XPO and the DOE's Solar Decathlon. 


The Solar Decathlon (www.solardecathlon.gov/), held every other year, challenges
20 international teams to design, build, and operate solar-powered houses that
are cost-effective, energy-efficient, and attractive. Prior to MicroPlanet's
successful management of the voltage at the previous Solar Decathlon 2011,
NREL's Byron Stafford, Solar Decathlon Site Operations Manager, stated: "The
integration of distributed and renewable electricity generation sources is
becoming more prevalent and a challenge for the grid. The Solar Decathlon is a
concentrated microcosm of what occurs in the real world as distributed and
renewable generation sources cause increases in line voltage. As we experienced
during Solar Decathlon 2009, line voltage rise causes inverters to trip,
stopping electricity from being passed back into the grid from the renewable
sources. We are pleased to find the MicroPlanet technology with the capabilities
and features to efficiently, precisely, and bi-directionally regulate voltage." 


Unit Private Placement

The Corporation issued 8,583,304 Units at a price of $0.05 per Unit for gross
proceeds of CDN$429,165.20. Each Unit was comprised of one common share in the
capital of the Corporation and one common share purchase warrant. Each warrant
entitles the holder to acquire one common share in the capital of the
Corporation at any time until the date that is 36 months following the closing
date upon payment of the exercise price of $0.10 per common share.


The Units were sold pursuant to applicable registration and prospectus
exemptions to qualified investors in Canada and the United States. The common
shares comprising the Units and any common shares acquired pursuant to the
exercise of the warrants are subject to a four-month hold period in accordance
with applicable securities laws. 


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. is a smart grid, energy conservation Corporation
whose technology regulates voltage steplessly, with unrivalled speed and
accuracy. MicroPlanet Technology Corporation products are used by utilities to
optimize the management of voltage on their networks, to improve power quality,
and to manage the integration of bi-directional distributed energy from solar PV
and wind into the power grid. In commercial and residential building
installations, MicroPlanet products have been proven to significantly increase
equipment useful lives and reduce electric bills, maintenance costs and
greenhouse gases. MicroPlanet is based in Seattle, WA and is listed on the TSX
Venture Exchange (TSX-V) trading under the stock symbol: MP. MicroPlanet's
website is www.microplanet.com.


NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THE TERM
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
MicroPlanet Technology Corporation
Joe Tanner
President & Chief Executive Officer
360-910-1600
206-625-0999 (FAX)
[e-mail]


MicroPlanet Technology Corporation
Brett Ironside
Director of Licensing & Acquisitions
403-560-3636
206-625-0999 (FAX)
[e-mail]
www.microplanet.com