Micromem Announces AGM and Semi-Annual Reporting Opt-In
The company expects lower reporting costs, while shareholders will no longer receive third-quarter interim statements.
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Rhea-AI Summary
Micromem Technologies (MMTIF) elected to adopt semi-annual financial reporting and scheduled its annual shareholder meeting for December 10, 2026.
Micromem will not file interim financial statements or related documents for its third quarter ending July 31. It will publish results twice a year: for the annual period ending October 31 and the first six months of its financial year ending April 30. The company expects the change to reduce administrative costs and the financial burden of quarterly reporting. It will continue to report material changes as required. The shareholder meeting is set for 10:00 a.m. EST, with materials to be circulated later.
Positive
- Micromem expects semi-annual reporting to reduce administrative costs and the financial burden of quarterly reporting.
Negative
- Third-quarter interim statements and related documents will not be filed for the period ending July 31.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario and New York, New York--(Newsfile Corp. - September 28, 2026) - Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) ("Micromem" or the "Company") announces that it has elected to adopt the semi-annual financial reporting ("SAR") and this news release is being filed pursuant to CSA Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers. As a result, the Company will not file interim financial statements and related documents for its third quarter period ending July 31st. Going forward, Micromem will publish financial results twice a year for the annual period ending on October 31st and for the first six months of its financial year ending on April 30th. The Company anticipates that the transition to SAR will reduce administrative costs and financial burden associated with quarterly reporting. Micromem remains committed to timely disclosure and will report all material changes as required under National Instrument 51-102 - Continuous Disclosure Obligations and the policies of the Canadian Securities Exchange.
The Company also announces it will hold its Annual General Meeting of shareholders (the "AGM") on Thursday, December 10, 2026, at 10:00 a.m. (EST). Micromem will prepare and circulate materials for the AGM in due course.
About Micromem.
Micromem Technologies Inc. and its subsidiaries, a publicly traded (OTCQB: MMTIF) CSE: MRM) company 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 & gas, utilities, automotive, healthcare, government, information technology, manufacturing and other industries. Visit www.micromeminc.com.
Safe Harbor Statement
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward looking statements include: our inability to obtain additional financing on acceptable terms; risk that our products and services will not gain widespread market acceptance; continued consumer adoption of digital technology; inability to compete with others who provide comparable products; the failure of our technology; the infringement of our technology with proprietary rights of third parties; inability to respond to consumer and technological demands; inability to replace significant customers; seasonal nature of our business; and other risks detailed in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. When used in this document, the words "believe," "expect," "anticipate," "estimate," "project," "plan," "should," "intend," "may," "will," "would," "potential," and similar expressions may be used to identify forward-looking statements.
The CSE or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release that has been prepared by management.
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Listing: OTCQB - Symbol: MMTIF
CSE - Symbol: MRM
Shares issued: 668,142,280
SEC File No: 0-26005
Investor Contact: Joseph Fuda, info@micromeminc.com; Tel. 416-364-2023 Subscribe to receive News Releases by Email on our website's home page. www.micromeminc.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316305
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When will Micromem (MMTIF) publish financial results under semi-annual reporting?
Micromem will publish results twice a year: for the annual period ending October 31 and the first six months of its financial year ending April 30. It will not file interim financial statements or related documents for its third quarter ending July 31.