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 unit脿 al prezzo di 0,06 C$ ciascuna. Ogni unit脿 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 societ脿 intende utilizzare i proventi netti per il capitale circolante. La chiusura 猫 subordinata a determinate condizioni, inclusa la conformit脿 ai requisiti post-chiusura della Canadian Securities Exchange.
Micromem Technologies (MMTIF) ha cerrado con 茅xito su colocaci贸n privada no intermediada previamente anunciada, recaudando 535,775 C$ mediante la emisi贸n de 8,929,583 unidades a un precio de 0.06 C$ por unidad. Cada unidad consta de una acci贸n com煤n y un warrant, con warrants ejercitables a 0.07 C$ por acci贸n durante tres a帽os despu茅s de la emisi贸n. Los valores est谩n sujetos a un per铆odo de retenci贸n de cuatro meses y ning煤n insider particip贸 en la colocaci贸n. La empresa planea utilizar los ingresos netos para capital de trabajo. El cierre est谩 sujeto a ciertas condiciones, incluyendo el cumplimiento de los requisitos posteriores al cierre de la Canadian Securities Exchange.
Micromem Technologies (MMTIF) a cl么tur茅 avec succ猫s son placement priv茅 non parrain茅 pr茅c茅demment annonc茅, levant 535 775 C$ gr芒ce 脿 l'茅mission de 8 929 583 unit茅s au prix de 0,06 C$ par unit茅. Chaque unit茅 comprend une action ordinaire et un bon de souscription, ces derniers 茅tant exer莽ables 脿 0,07 C$ par action pendant trois ans apr猫s l'茅mission. Les titres sont soumis 脿 une p茅riode de blocage de quatre mois et aucun initi茅 n'a particip茅 au placement. La soci茅t茅 pr茅voit d'utiliser les produits nets 脿 des fins de fonds de roulement. La cl么ture reste soumise 脿 certaines conditions, notamment le respect des exigences post-cl么ture de la Canadian Securities Exchange.
Micromem Technologies (MMTIF) hat erfolgreich seine zuvor angek眉ndigte 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 ausge眉bt werden k枚nnen. Die Wertpapiere unterliegen einer viermonatigen Haltefrist, und keine Insider haben an der Platzierung teilgenommen. Das Unternehmen plant, die Nettoerl枚se f眉r das Betriebskapital zu verwenden. Der Abschluss steht unter bestimmten Bedingungen, einschlie脽lich 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 .
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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