Micromem Announces Private Placement Closing

Executive Summary

• Micromem Technologies Inc. closed a tranche of its non‑brokered private placement, raising approximately C$327,778.
• The offering consisted of 6,555,555 units at C$0.05 per unit; each unit included one common share and one warrant exercisable at C$0.06 per share for one year.
• Net proceeds are earmarked for working capital, enhancing the company’s liquidity position.

Key Details

• Gross Proceeds: Approximately C$327,778.
• Units Sold: 6,555,555 units at C$0.05 per unit.
• Composition of Each Unit: 1 common share + 1 warrant (exercisable at C$0.06 per share for one year).
• Total Securities Issued: 6,555,555 common shares and 6,555,555 warrants.
• Hold Period: All securities subject to a four‑month hold period.
• Insider Participation: No insiders participated; all subscribers were at arm’s length.
• Potential Additional Funding: Company may close an additional tranche of up to C$167,000 at its sole discretion, as previously announced (Dec 31 2025).
• Use of Proceeds: Net proceeds will be used for working capital.
• Regulatory Conditions: Closing subject to compliance with post‑closing requirements of the Canadian Securities Exchange (CSE).

Notable Quotes

(No executive quotes were included in the release.)