Source: Micromem Technologies Inc.
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  • Micromem Technologies (MRM) has closed a private placement for gross proceeds of $282,000
  • The company issued 1,800,000 common shares and placed three convertible debentures
  • Micromem Technologies develops sensors for numerous industries including energy, utilities, automotive, healthcare, information technology and manufacturing
  • Micromem Technologies Inc. (MRM) is unchanged on the day, trading at C$0.055 per share at 3:45 pm ET

Micromem Technologies (MRM) has closed a private placement for gross proceeds of $282,000.

The company issued a total of 1,800,000 common shares at $0.05 per share raising gross proceeds of $90,000.

Micromem has also placed three convertible debentures raising gross proceeds of $192,000, with each debenture bearing an interest rate of 12 per cent per annum with a conversion option at $0.05 per share.

Proceeds will be used for general working capital.

All securities issued are subject to a four-month holding period.

Micromem Technologies designs sensors for oil & gas, utilities, automotive, healthcare, government, information technology, manufacturing and other industries.

Micromem Technologies Inc. (MRM) is unchanged on the day, trading at C$0.055 per share at 3:45 pm ET.

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