Micromem Technologies Inc. announced a non-brokered private placement of 2,500,000 common shares for the gross proceeds of up to CAD 300,000 (subject to an up to 50% increase at the discretion of the Company) on April 12, 2023. The company has requested and received price protection from the Canadian Securities Exchange. All securities issued pursuant to the transaction will be subject to a four-month holding period.

The transaction remains subject to final regulatory approvals.