Defence wearable: Micromem (OTCQB: MMTIF) hits cost targets, eyes 5,000 units
Rhea-AI Filing Summary
Micromem Technologies Inc. filed a Form 6-K providing an update on its wearable sensing platform being evaluated for defence and security uses. The company completed an initial cost and engineering review and reports that the current prototype meets its design targets.
The device is designed to weigh less than 250 grams and have an anticipated cost of under $1,000 CAD per unit, while maintaining required functionality and performance. Micromem anticipates that the Department of National Defence opportunity could support an initial annual order of approximately 5,000 units and plans to submit the design to foreign militaries later this year.
The company will proceed to the next stage of development and construction of the wearable platform for demonstration purposes, targeting military, security, and first-responder applications that require real-time sensing and monitoring in demanding environments.
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Key Figures
Key Terms
wearable sensing platform technical
Department of National Defence other
first-responder applications other
forward-looking statements regulatory
Safe Harbor Statement regulatory
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
June 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shall be deemed a part of such registration statement from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished by Micromem Technologies Inc. under the Securities Act of 1933 or the Securities Exchange Act of 1934.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. |
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By: /s/ Joseph Fuda |
| Date: June 23, 2026 | Name: Joseph Fuda |
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Title: Chief Executive Officer |
Exhibit Index
| Exhibit | Description | |
| 99.1 | News Release dated June 23, 2026 |
| FOR IMMEDIATE RELEASE | June 23, 2026 |
Micromem Technologies Inc. Update on Wearable Sensing Platform for Defence and
Security Application Evaluation
Toronto, Ontario and New York, New York, June 23, 2026 - Micromem Technologies Inc. ("Micromem" or the "Company") (CSE: MRM) (OTCQB: MMTIF) is pleased to provide an update following recent meetings with representatives of the Department of National Defence ("DND").
The Company has now completed its initial cost analysis and engineering review of the wearable unit prototype. Micromem is pleased to report that the current design has achieved the targeted cost objectives established for the program while maintaining the required functionality and performance specifications. The criteria established contemplate a device that weighs less than 250 grams, with an anticipated cost of under $1000 CAD per unit.
The wearable unit meets the required weight threshold, providing a lightweight and practical solution suitable for extended field deployment. We anticipate that the DND opportunity provides for an initial annual order of approximately 5,000 units. In addition, the Company will be submitting the design to foreign militaries later this year.
Micromem now intends to proceed with the next stage of development and construction of the wearable device platform for demonstration purposes.
The Company believes the technology can support a broad range of military, security, and first-responder applications providing real-time sensing and monitoring capabilities in challenging operating environments.
Achieving target cost parameters while maintaining a lightweight design represents an important milestone for the program. Micromem is encouraged by the progress made to date, including the work performed by the engineering staff that it has hired for this project. The Company looks forward to advancing the wearable platform through the next phase of development.
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 and CSE - Symbol: MRM
Shares issued: 649,099,645
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