Micromem closes $498,652 private placement

An anonymous director reports MICROMEM CLOSES PRIVATE PLACEMENT Micromem Technologies Inc. has closed its non-brokered private placement previously announced in its news release issued on Sept. 30, 2025. Micromem raised gross proceeds of approximately $498,652 by placing a total of 9,066,400 units at a price of 5.5 cents per unit, each unit being comprising one common share and one warrant exercisable at six cents per share for a period of one year following the issuance date. A total of 9,066,400 common shares and 9,066,400 warrants were issued in this private placement, will all securities being subject to a four-month hold period. No insiders participated in this private placement and all subscribers are at arm's length. Micromem intends to use the net proceeds raised through the private placement for working capital. Closing of the private placement is subject to certain conditions, including compliance with postclosing requirements of the Canadian Securities Exchange (CSE). About Micromem Technologies Inc. Micromem Technologies analyzes specific industry sectors to create intelligent game-changing applications that address unmet market needs. By leveraging its expertise and experience with sophisticated sensor applications, the company successfully powers the development and implementation of innovative solutions for oil and gas, utilities, automotive, health care, government, information technology, manufacturing, and other industries. We seek Safe Harbor.