Micromem closes C$235,000 private placement on CSE: MRM

Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) has closed a non-brokered private placement, raising gross proceeds of approximately C$235,000, according to a press release issued June 18, 2026.

The company placed 9,400,000 units at C$0.025 per unit. Each unit consists of one common share and one warrant exercisable at C$0.05 per share for two years from the issuance date. A total of 9,400,000 common shares and 9,400,000 warrants were issued, with all securities subject to a four-month hold period.

No insiders participated in the placement, and all subscribers are described as arm's-length parties. Micromem said it intends to use the net proceeds for working capital. The closing remains subject to certain conditions, including post-closing compliance requirements of the Canadian Securities Exchange.

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