Micromem Announces Private Placement Closing

Rhea-AI Summary

Micromem (OTCQB: MMTIF) closed a tranche of a non-brokered private placement on January 14, 2026, raising gross proceeds of approximately C$327,778. The company issued 6,555,555 units at C$0.05 per unit, each unit comprising one common share and one warrant exercisable at C$0.06 for one year.

All securities are subject to a four-month hold period. No insiders participated and all subscribers were arm's length. The company may, at its discretion, close an additional tranche of up to C$167,000. Net proceeds are intended for working capital, and closing remains subject to customary post-closing CSE requirements.

Positive

• Gross proceeds of C$327,778 raised
• 6,555,555 common shares issued
• No insider participation, subscribers at arm's length
• Company may raise an additional C$167,000 tranche

Negative

• Warrants exercisable at C$0.06 could dilute shareholders if exercised
• All securities subject to a four-month hold, limiting immediate liquidity
• Securities not registered in the US, restricting US sales

Toronto, Ontario and New York, New York--(Newsfile Corp. - January 14, 2026) - Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) ("Micromem" or the "Company") announces closing of a tranche of its non-brokered private placement (the "Private Placement") previously announced in its news release issued on December 31, 2025. Micromem raised gross proceeds of approximately C$327,778 by placing a total of 6,555,555 units at a price of C$0.05 per unit, each unit being comprised of one common share and one warrant exercisable at C$0.06 per share for a period of one year following the issuance date. A total of 6,555,555 common shares and 6,555,555 warrants were issued in this Private Placement, will all securities being subject to a four-month hold period. No insiders participated in this Private Placement and all subscribers are at arm's length. As announced in the December 31, 2025 news release, Micromem may close, in its sole discretion, an additional tranche of up to C$167,000.

Micromem intends to use the net proceeds raised through the Private Placement for working capital. Closing of the Private Placement is subject to certain conditions, including compliance with post-closing requirements of the Canadian Securities Exchange (CSE).

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

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.

###

Listing: OTCQB - Symbol: MMTIF
CSE - Symbol: MRM
Shares issued: 622,645,969
SEC File No: 0-26005

Investor Contact: 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/280418

FAQ

How much did Micromem (MMTIF) raise in the January 14, 2026 private placement?

Micromem raised approximately C$327,778 by issuing 6,555,555 units at C$0.05 each.

What did each unit include in Micromem's (MMTIF) private placement?

Each unit comprised one common share and one warrant exercisable at C$0.06 for one year.

Will Micromem (MMTIF) issue more securities after the January 14, 2026 closing?

The company may, in its sole discretion, close an additional tranche of up to C$167,000.

Are insiders involved in Micromem's (MMTIF) private placement closed January 14, 2026?

No; the company announced that no insiders participated and all subscribers are arm's length.

What are the trading or resale limits on the securities from Micromem's (MMTIF) private placement?

All securities issued are subject to a four-month hold period restricting resale.

How does Micromem (MMTIF) intend to use the proceeds from the January 14, 2026 private placement?

Micromem intends to use the net proceeds for working capital.