Micromem Closes Private Placement

Core Viewpoint - Micromem Technologies Inc. has successfully closed a non-brokered private placement, raising approximately C$498,652 through the issuance of 9,066,400 units at a price of C$0.055 per unit, with each unit consisting of one common share and one warrant [1][2]. Group 1: Private Placement Details - The private placement involved the issuance of 9,066,400 common shares and 9,066,400 warrants, with the warrants exercisable at C$0.06 per share for one year [1]. - All securities issued in the private placement are subject to a four-month hold period, and no insiders participated in this offering [1]. - The net proceeds from the private placement will be utilized for working capital [2]. Group 2: Company Overview - Micromem Technologies Inc. is a publicly traded company that focuses on analyzing specific industry sectors to create innovative applications that meet market needs [4]. - The company leverages its expertise in sophisticated sensor applications to develop solutions for various industries, including oil & gas, utilities, automotive, healthcare, government, information technology, and manufacturing [4].