diff --git a/README.md b/README.md
index 9861b70..91556d7 100644
--- a/README.md
+++ b/README.md
@@ -9,7 +9,7 @@ The package can be installed by adding `licensir` to your list of dependencies i
 ```elixir
 def deps do
   [
-    {:licensir, "~> 0.4", only: :dev, runtime: false}
+    {:licensir, "~> 0.5", only: :dev, runtime: false}
   ]
 end
 ```
@@ -21,7 +21,7 @@ This mix task in most cases only needs to be run on a development machine and in
 If you do not wish to include this tool as part of your dependencies, you may also install it locally by running:
 
 ```elixir
-$ mix archive.install hex licensir 0.4.0
+$ mix archive.install hex licensir 0.5.0
 ```
 
 Now you can access this tool from any path on your local machine that has access to `mix`.
diff --git a/mix.exs b/mix.exs
index e30f675..f0a0f3e 100644
--- a/mix.exs
+++ b/mix.exs
@@ -4,7 +4,7 @@ defmodule Licensir.Mixfile do
   def project do
     [
       app: :licensir,
-      version: "0.4.2",
+      version: "0.5.0",
       elixir: "~> 1.5",
       elixirc_paths: elixirc_paths(Mix.env()),
       escript: [main_module: Licensir.Licenses],