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Micromem Closes Private Placement

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Micromem Technologies (MMTIF) has successfully closed its previously announced non-brokered private placement, raising C$535,775 through the issuance of 8,929,583 units priced at C$0.06 per unit. Each unit consists of one common share and one warrant, with warrants exercisable at C$0.07 per share for three years after issuance. The securities are subject to a four-month hold period, and no insiders participated in the placement. The company plans to use the net proceeds for working capital purposes. The closing remains subject to certain conditions, including compliance with Canadian Securities Exchange post-closing requirements.
Micromem Technologies (MMTIF) ha completato con successo il collocamento privato non assistito da intermediari annunciato in precedenza, raccogliendo 535.775 C$ tramite l'emissione di 8.929.583 unità al prezzo di 0,06 C$ ciascuna. Ogni unità comprende un'azione ordinaria e un warrant, con i warrant esercitabili a 0,07 C$ per azione entro tre anni dall'emissione. I titoli sono soggetti a un periodo di blocco di quattro mesi e nessun insider ha partecipato al collocamento. La società intende utilizzare i proventi netti per il capitale circolante. La chiusura è subordinata a determinate condizioni, inclusa la conformità ai requisiti post-chiusura della Canadian Securities Exchange.
Micromem Technologies (MMTIF) ha cerrado con éxito su colocación privada no intermediada previamente anunciada, recaudando 535,775 C$ mediante la emisión de 8,929,583 unidades a un precio de 0.06 C$ por unidad. Cada unidad consta de una acción común y un warrant, con warrants ejercitables a 0.07 C$ por acción durante tres años después de la emisión. Los valores están sujetos a un período de retención de cuatro meses y ningún insider participó en la colocación. La empresa planea utilizar los ingresos netos para capital de trabajo. El cierre está sujeto a ciertas condiciones, incluyendo el cumplimiento de los requisitos posteriores al cierre de la Canadian Securities Exchange.
Micromem Technologies(MMTIF)는 이전에 발표한 비중개인 사모 발행을 성공적으로 마무리하여, 단위당 0.06 캐나다 달러에 8,929,583 단위를 발행해 총 535,775 캐나다 달러를 조달했습니다. 각 단위는 보통주 1주와 워런트 1주로 구성되며, 워런트는 발행 후 3년간 주당 0.07 캐나다 달러에 행사할 수 있습니다. 증권은 4개월간의 보유 기간이 적용되며, 내부자는 이번 발행에 참여하지 않았습니다. 회사는 순수익을 운전자본으로 사용할 계획입니다. 거래 마감은 캐나다 증권거래소의 마감 후 요건 준수를 포함한 특정 조건에 따릅니다.
Micromem Technologies (MMTIF) a clôturé avec succès son placement privé non parrainé précédemment annoncé, levant 535 775 C$ grâce à l'émission de 8 929 583 unités au prix de 0,06 C$ par unité. Chaque unité comprend une action ordinaire et un bon de souscription, ces derniers étant exerçables à 0,07 C$ par action pendant trois ans après l'émission. Les titres sont soumis à une période de blocage de quatre mois et aucun initié n'a participé au placement. La société prévoit d'utiliser les produits nets à des fins de fonds de roulement. La clôture reste soumise à certaines conditions, notamment le respect des exigences post-clôture de la Canadian Securities Exchange.
Micromem Technologies (MMTIF) hat erfolgreich seine zuvor angekündigte nicht vermittelte Privatplatzierung abgeschlossen und dabei 535.775 C$ durch die Ausgabe von 8.929.583 Einheiten zu je 0,06 C$ pro Einheit eingenommen. Jede Einheit besteht aus einer Stammaktie und einem Warrant, wobei die Warrants drei Jahre lang nach Ausgabe zu 0,07 C$ pro Aktie ausgeübt werden können. Die Wertpapiere unterliegen einer viermonatigen Haltefrist, und keine Insider haben an der Platzierung teilgenommen. Das Unternehmen plant, die Nettoerlöse für das Betriebskapital zu verwenden. Der Abschluss steht unter bestimmten Bedingungen, einschließlich der Einhaltung der Nachabschlussanforderungen der Canadian Securities Exchange.
Positive
  • Raised C$535,775 in fresh capital for working capital purposes
  • Warrants provide potential for additional future funding at C$0.07 per share
  • No insider participation indicates external investor interest
Negative
  • Potential dilution for existing shareholders with issuance of 8,929,583 new shares
  • Low unit price of C$0.06 indicates current market conditions
  • Additional dilution possible if warrants are exercised

Toronto, Ontario and New York, New York--(Newsfile Corp. - June 20, 2025) - Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) ("Micromem" or the "Company") announces closing of its non-brokered private placement (the "Private Placement") previously announced in its news release issued on May 30, 2025. Micromem raised gross proceeds of approximately C$535,775 by placing a total of 8,929,583 units at a price of C$0.06 per unit, each unit being comprised of one common share and one warrant exercisable at C$0.07 per share for a period of three years following the issuance date. A total of 8,929,583 common shares and 8,929,583 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.

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.

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Listing: OTCQB - Symbol: MMTIF
CSE - Symbol: MRM
Shares issued: 606,840,014
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/256310

FAQ

How much did Micromem Technologies (MMTIF) raise in its private placement?

Micromem Technologies raised gross proceeds of C$535,775 through its private placement.

What is the structure of Micromem's private placement units?

Each unit at C$0.06 consists of one common share and one warrant exercisable at C$0.07 for three years.

How many shares were issued in MMTIF's private placement?

The private placement issued 8,929,583 common shares and an equal number of warrants.

What will Micromem use the private placement proceeds for?

Micromem intends to use the net proceeds from the private placement for working capital.

Is there a hold period for the securities issued in MMTIF's private placement?

Yes, all securities issued are subject to a four-month hold period.
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