Micromem Technologies Inc. announced a non-brokered private placement of common shares at CAD 0.06 per share and/or convertible debentures for gross proceeds of CAD 150,000 on December 5, 2023. The debentures bear an interest rate of 12% per annum compounded daily, with a conversion option at CAD 0.07 per share and maturing in 12 months. All securities to be issued pursuant to the private placement will be subject to a four-month holding period.

The private placement remains subject to final regulatory approvals.