Micromem (OTCQB: MMTIF) closes C$327,778 equity unit financing
Rhea-AI Filing Summary
Micromem Technologies Inc. has closed a non-brokered private placement, raising aggregate gross proceeds of approximately C$327,778. The company issued 6,555,555 units at C$0.05 per unit, with each unit consisting of one common share and one warrant exercisable at C$0.06 per share for one year. In total, 6,555,555 common shares and 6,555,555 warrants were issued, with all securities subject to a four-month hold period. No insiders participated and all subscribers are at arm's length. Micromem plans to use the net proceeds for working capital. The company reports that 622,645,969 shares were issued overall. The private placement remains subject to post-closing requirements of the Canadian Securities Exchange.
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Insights
Micromem raises C$327,778 via small equity unit financing.
Micromem Technologies Inc. completed a non-brokered private placement of 6,555,555 units at C$0.05, for gross proceeds of about
All securities carry a four-month hold period, and no insiders participated, with all subscribers described as arm's length. The company intends to apply the net proceeds to working capital, which can help fund ongoing operations given the stated share count of 622,645,969 issued shares.
The placement is still subject to post-closing requirements of the Canadian Securities Exchange, so final completion depends on satisfying those conditions. Any warrant exercises within the one-year term would bring in additional cash and modestly increase the share count beyond the newly issued shares.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
January 2026
Commission File Number 0-26005
MICROMEM TECHNOLOGIES INC.
121 Richmond Street West, Suite 602, Toronto, ON M5H 2K1
[Indicate by checkmark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.]
Form 20-F [X] Form 40-F [ ]
[Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.]
Yes [ ] No [X]
[If "Yes" is marked, indicate below the file number assigned to the registrant in connection with rule 12g3-2(b): N/A
This report on Form 6-K is hereby incorporated by reference in the registration statement on Form F-3 (Registration No. 333-134309) of Micromem Technologies Inc. and in the prospectus contained therein, and this report on Form 6-K shall be deemed a part of such registration statement from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished by Micromem Technologies Inc. under the Securities Act of 1933 or the Securities Exchange Act of 1934.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MICROMEM TECHNOLOGIES INC. | |
| By: /s/ Joseph Fuda | |
| Date: January 27, 2026 | Name: Joseph Fuda |
| Title: Chief Executive Officer |
Exhibit Index
| Exhibit | Description | |
| 99.1 | News Release dated January 27, 2026 |
| FOR IMMEDIATE RELEASE | January 27, 2026 |
Micromem Closes Private Placement
Toronto, Ontario and New York, New York, January 27, 2026 - Micromem Technologies Inc. ("Micromem" or the "Company") (CSE: MRM, OTCQB: MMTIF) announces closing of its non-brokered private placement (the "Private Placement") announced in its news releases issued on December 31, 2025 and January 14, 2026. As previously announced, Micromem raised aggregate 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.
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: 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
FAQ
How much capital did Micromem Technologies Inc. (MMTIF) raise in the latest private placement?
What securities were issued in Micromem (MMTIF)'s January 2026 private placement?
Did insiders participate in Micromem Technologies Inc. (MMTIF)'s private placement?
How will Micromem (MMTIF) use the proceeds from the C$327,778 financing?
What are the hold period and warrant terms for Micromem (MMTIF)'s new securities?
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