Micromem Announces Proposed Private Placement

Executive Summary

• Micromem Technologies Inc. announced a non‑brokered private placement of up to CAD $400,000 in common share units at CAD $0.055 per unit, with an optional 50% discretionary increase.
• Each unit consists of one common share and one warrant exercisable at CAD $0.06 per share for one year; securities will be subject to a four‑month hold period.
• Proceeds are earmarked for working capital needs and debt settlement, pending final regulatory approvals.

Key Details

• Placement Size: Up to CAD $400,000 (subject to 50% discretionary increase).
• Unit Price: CAD $0.055 per unit.
• Unit Composition: 1 common share + 1 warrant (exercise price CAD $0.06, one‑year term).
• Hold Period: Four months from issuance.
• Use of Proceeds: Working capital and debt settlement.
• Regulatory Status: Subject to final regulatory approvals; securities not registered under U.S. securities laws and not offered to U.S. persons except as permitted.
• Potential Upside: Discretionary increase could raise total offering size by up to CAD $200,000.

Notable Quotes

(No executive quotes were included in the release.)