Welcome to our dedicated page for Micromen Tech news (Ticker: MMTIF), a resource for investors and traders seeking the latest updates and insights on Micromen Tech stock.
Micromem Technologies Inc. (MMTIF) delivers cutting-edge sensor systems and automated sampling solutions for critical sectors including oil & gas, utilities, and industrial manufacturing. This news hub provides investors and industry professionals with essential updates on the company’s strategic developments, financial milestones, and technological advancements.
Discover official press releases covering new product launches, research collaborations with institutions like the University of Toronto, and strategic partnerships with industry leaders. Our curated collection includes updates on sensor innovations like the ARTRA unit, earnings reports, and operational expansions across key markets.
Bookmark this page for direct access to Micromem Tech’s verified announcements, ensuring you stay informed about developments impacting sensor technology applications in environmental monitoring, defense systems, and industrial diagnostics. Regular updates provide insights into how the company’s AI-integrated solutions address complex challenges in fluid analysis and biochemical detection.
Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) has announced an update on its ARTRA unit for field testing. The company's contracted engineering affiliate has informed that the unit will be ready for shipment during the week of October 14th. This marks a significant milestone as it is the first ARTRA field unit prepared for a client other than Chevron.
Additionally, Micromem has secured access to an engineering patent for an automated sampler system previously filed by Chevron. The company is now set to begin work on a 'Configuration 2' device, which will be a well-mounted system capable of automated well sample collection in real-time for natural gas wells. Once completed, this new device is expected to provide new marketing opportunities for the company.
Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) has announced an update following a meeting with Chevron representatives in Houston on September 25th. The company has secured access to Chevron's automated sampler system for tracer testing, which is important for Micromem's ARTRA device in well-mounted systems. Notably, Micromem will not pay any fees for using the system, and any intellectual property generated will remain with the company.
Chevron will introduce Micromem to the system's designer, allowing for potential modifications for use with third parties. This access is expected to save Micromem significant time and expenses in developing sampler systems for future projects. In return, Micromem will provide modified sampler designs to Chevron for their testing and potential future use.
Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) has closed a non-brokered private placement, raising gross proceeds of approximately C$354,973 by issuing 11,832,420 units at C$0.03 per unit. Each unit consists of one common share and one warrant exercisable at C$0.05 for three years. The company paid a finder's fee of about $5,611 in cash. Additionally, Micromem settled indebtedness of C$40,000 with its legal counsel by issuing 1,333,333 units at C$0.03 per unit. In total, the company issued 13,165,753 common shares and 13,165,753 warrants. The proceeds will be used for working capital, and the closing is subject to certain conditions and approvals.
Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) has confirmed a meeting with Chevron scheduled for September 25, 2024. The meeting will take place at Chevron's offices in Houston. The primary objective of this meeting is to discuss the current status of their project and develop future strategies. This announcement suggests ongoing collaboration between Micromem and Chevron, potentially indicating progress or developments in their joint venture.
Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) has successfully closed its previously announced non-brokered private placement, raising gross proceeds of approximately C$267,894. The company issued 8,929,800 common shares at C$0.03 per share and an equal number of warrants exercisable at C$0.05 per share for a three-year period. A finder's fee of about $5,520 in cash and 184,000 broker warrants was paid in connection with the placement. The proceeds are intended for working capital purposes. All securities issued are subject to a four-month holding period, and the closing is contingent on certain conditions and regulatory approvals.
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