Micromem Announces Proposed Private Placement and Option Grant

Core Viewpoint - Micromem Technologies Inc. is proceeding with a non-brokered private placement to raise up to CAD $330,000 for working capital and debt settlement, with each unit priced at CAD $0.05 and including a warrant exercisable at CAD $0.06 for one year [1] Group 1: Private Placement Details - The private placement will consist of common share units priced at CAD $0.05 per unit, with a total offering of up to CAD $330,000, subject to a 50% discretionary increase [1] - Each unit includes one common share and one warrant, which can be exercised at CAD $0.06 per share for a period of one year [1] - The proceeds from the private placement will be used for working capital and debt settlement, and all securities issued will be subject to a four-month hold period [1] Group 2: Stock Options Grant - The company has granted 5,900,000 options to purchase common shares, which are immediately vested and exercisable for five years at an exercise price of CAD $0.05 per share [2] - These options are granted to directors, officers, and employees as a replacement for options that expired in November 2025 [2] - The grant of options is subject to compliance with Canadian Securities Exchange requirements [2] Group 3: Company Overview - Micromem Technologies Inc. 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, and information technology [4]