Micromem Closes Private Placement
Micromem Technologies (CSE: MRM, OTCQB: MMTIF) has completed a non-brokered private placement, raising C$255,000 through the issuance of 5,100,000 units at C$0.05 per unit. Each unit consists of one common share and one warrant, exercisable at C$0.05 for three years.
Additionally, the company settled outstanding debenture debt of C$150,000 by issuing 3,000,000 units under the same terms. The combined transactions resulted in the issuance of 8,100,000 common shares and 8,100,000 warrants. No insiders participated in either transaction.
The proceeds will be used for working capital. All securities are subject to a four-month hold period and final closing is pending CSE approval.
Micromem Technologies (CSE: MRM, OTCQB: MMTIF) ha completato un collocamento privato non intermediato, raccogliendo C$255.000 tramite l'emissione di 5.100.000 unità a C$0,05 per unità. Ogni unità è composta da un'azione comune e da un warrant, esercitabile a C$0,05 per tre anni.
Inoltre, l'azienda ha estinto un debito obbligazionario in sospeso di C$150.000 emettendo 3.000.000 unità secondo gli stessi termini. Le transazioni combinate hanno portato all'emissione di 8.100.000 azioni comuni e 8.100.000 warrant. Nessun insider ha partecipato a entrambe le transazioni.
I proventi saranno utilizzati per il capitale circolante. Tutti i titoli sono soggetti a un periodo di blocco di quattro mesi e la chiusura finale è in attesa dell'approvazione della CSE.
Micromem Technologies (CSE: MRM, OTCQB: MMTIF) ha completado una colocación privada no intermediada, recaudando C$255,000 a través de la emisión de 5,100,000 unidades a C$0.05 por unidad. Cada unidad consta de una acción común y un warrant, que se puede ejercer a C$0.05 durante tres años.
Además, la empresa liquidó una deuda de obligación pendiente de C$150,000 emitiendo 3,000,000 unidades bajo los mismos términos. Las transacciones combinadas resultaron en la emisión de 8,100,000 acciones comunes y 8,100,000 warrants. Ningún insider participó en ninguna de las transacciones.
Los fondos se utilizarán para capital de trabajo. Todos los valores están sujetos a un período de restricción de cuatro meses y el cierre final está pendiente de la aprobación de la CSE.
Micromem Technologies (CSE: MRM, OTCQB: MMTIF)는 중개 없는 비공식 사모를 완료하고 C$255,000을 모금했습니다. 이는 C$0.05의 단가로 5,100,000 단위를 발행한 결과입니다. 각 단위는 하나의 보통주와 하나의 워런트로 구성되어 있으며, 워런트는 3년 동안 C$0.05에 행사할 수 있습니다.
추가로, 이 회사는 C$150,000의 미확정 채무를 동일한 조건으로 3,000,000 단위를 발행하여 정산했습니다. 두 거래를 통해 총 8,100,000 보통주와 8,100,000 워런트가 발행되었습니다. 어떤 내부자도 두 거래에 참여하지 않았습니다.
모금된 자금은 운전 자본으로 사용될 예정입니다. 모든 증권은 4개월의 보유 기간을 따르며, 최종 마감은 CSE의 승인을 기다리고 있습니다.
Micromem Technologies (CSE: MRM, OTCQB: MMTIF) a réalisé un placement privé sans intermédiaire, levant C$255,000 par l'émission de 5,100,000 unités au prix de C$0,05 par unité. Chaque unité est composée d'une action ordinaire et d'un bon de souscription, exerçable à C$0,05 pendant trois ans.
De plus, la société a réglé une dette obligataire en cours de C$150,000 en émettant 3,000,000 unités selon les mêmes conditions. Les transactions combinées ont entraîné l'émission de 8,100,000 actions ordinaires et 8,100,000 bons de souscription. Aucun initié n'a participé à ces transactions.
Les produits seront utilisés pour le fonds de roulement. Tous les titres sont soumis à une période de blocage de quatre mois et la clôture finale est en attente de l'approbation de la CSE.
Micromem Technologies (CSE: MRM, OTCQB: MMTIF) hat eine private Platzierung ohne Vermittler abgeschlossen und C$255.000 durch die Ausgabe von 5.100.000 Einheiten zu einem Preis von C$0,05 pro Einheit gesammelt. Jede Einheit besteht aus einer Stammaktie und einem Warrant, der für drei Jahre zu C$0,05 ausgeübt werden kann.
Zusätzlich hat das Unternehmen eine ausstehende Anleihe von C$150.000 durch die Ausgabe von 3.000.000 Einheiten zu denselben Bedingungen beglichen. Die kombinierten Transaktionen führten zur Ausgabe von insgesamt 8.100.000 Stammaktien und 8.100.000 Warrants. An keiner der Transaktionen nahmen Insider teil.
Die Einnahmen werden für das Umlaufvermögen verwendet. Alle Wertpapiere unterliegen einer Sperrfrist von vier Monaten, und der endgültige Abschluss steht noch unter dem Vorbehalt der Genehmigung durch die CSE.
- Raised C$255,000 in new capital
- Reduced debt burden by C$150,000 through debt settlement
- Significant shareholder dilution with 8.1 million new shares issued
- Low unit pricing at C$0.05 indicates weak market position
- Additional potential dilution from 8.1 million warrants at low exercise price
Toronto, Ontario and New York, New York--(Newsfile Corp. - January 7, 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 releases issued on December 13 and 27, 2024. Micromem raised gross proceeds of approximately C
Micromem intends to use the proceeds raised through the Private Placement for working capital. In addition, the Company settled outstanding indebtedness (the "Debt Settlement") under certain debentures totaling C
In connection with the Private Placement and the Debt Settlement, Micromem has issued a total of 8,100,000 common shares and 8,100,000 warrants. No insiders participated in the Private Placement and the debt Settlement, and all participants are at arm's length. All securities issued pursuant to the Private Placement are subject to a four-month hold period. Closing of the Private Placement is subject to certain conditions and receipt of all necessary approvals, including compliance with the requirements of the Canadian Securities Exchange (CSE).
The securities offered and sold in the Private Placement and Debt Settlement have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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 www.micromeminc.com.
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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Listing: OTCQB - Symbol: MMTIF
CSE - Symbol: MRM
Shares issued: 581,085,698
SEC File No: 0-26005
Investor Contact: info@micromeminc.com; Tel. 416-364-2023 Subscribe to receive News Releases by Email on our website's home page. www.micromeminc.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236128
FAQ
How much did Micromem Technologies (MMTIF) raise in its January 2025 private placement?
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What is the hold period for securities issued in MMTIF's January 2025 private placement?
